By Marisa Wong
Morgantown, W.Va., April 19 – Chaowei Power Holdings Ltd. priced RMB 500 million of 4.55% two-year debt financing instruments, according to a company announcement.
The bonds are guaranteed by wholly owned subsidiaries Shandong Chaowei Power Co., Ltd. and Zhejiang Chaowei Power Co., Ltd.
China Minsheng Banking Corp., Ltd. is the underwriter and bookrunner.
Proceeds will be used for general working capital.
Based in Changxing, China, Chaowei is a motive battery manufacturer operating in the electric bike market in China.
| Issuer: | Chaowei Power Holdings Ltd.
|
| Guarantors: | Shandong Chaowei Power Co., Ltd. and Zhejiang Chaowei Power Co., Ltd.
|
| Issue: | Debt financing instruments
|
| Amount: | RMB 500 million
|
| Maturity: | 24 months
|
| Bookrunner: | China Minsheng Banking Corp., Ltd.
|
| Coupon: | 4.55%
|
| Announcement date: | April 19
|
| Settlement date: | April 22
|
| Rating: | Dagong Global Credit Rating Co., Ltd.: AA
|
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