China’s Chaowei Power to offer RMB 500 million of three-year notes

By Marisa Wong

Madison, Wis., June 17 – Chaowei Power Holdings Ltd. has registered to issue RMB 500 million of three-year notes, according to a company announcement.

China Minsheng Banking Corp., Ltd. will be the underwriter and bookrunner.

The company has two months from the date of acceptance of registration, June 1, to complete the issuance.

The purpose of the medium-term notes issuance is to provide supplemental funding for the company’s working capital and the partial repayment of its bank loans, the announcement said.

Based in Changxing, China, Chaowei is a motive battery manufacturer operating in the electric bike market in China.

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