China WindPower Proposes Issue of RMB Bonds

China WindPower Group Limited, an investment holding company mainly engaged in wind power business and industry, said on Tuesday that it has proposed to conduct an international offering of RMB-denominated guaranteed bonds, targeting certain qualified institutional investors in Asia and Europe.

The net proceeds of the mulled bond issue should be used for general corporate purposes, funding its working capital and additional wind farm investment and development, said the company, with investment in various wind farm projects in China, in a statement filed to the Hong Kong Stock Exchange in the day.

Meanwhile, the completion of the suggested issue, whose sole lead manager of sole bookrunner is HSBC, is subject to market conditions and investor interest, said the company.

To date, the interest rate and the terms and conditions of the proposed issue are yet to be determined.

Committed to developing the infrastructure for China's wind power generation, China WindPower has invested around 20 wind farms and set up regional management organizations in Beijing, Liaoning province and other areas with rich wind resource.