China’s Chaowei Power to sell RMB 700 million three-year notes Monday

By Marisa Wong

Morgantown, W.Va., Oct. 12 – Chaowei Power Holdings Ltd. has registered to issue RMB 1.4 billion of medium-term notes, according to a company announcement.

The company plans to issue an initial tranche totaling RMB 700 million on Oct. 16.

The first tranche, which will have a term of three years, will be issued through subsidiary Chaowei Power Co., Ltd.

China Merchants Bank Co., Ltd. and China Merchants Securities Co., Ltd. will be 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.

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