China's New Focus Auto plans offering of renminbi-denominated bonds

By Angela McDaniels

Tacoma, Wash., Aug. 9 - New Focus Auto Tech Holdings Ltd. plans to issue renminbi-denominated bonds to international institutional investors, according to a company news release.

The issue size, the offer price and the interest rate will be determined through a bookbuilding process.

The proceeds will be used for working capital and general corporate purposes.

New Focus Auto Tech manufactures and distributes automotive electronics and power-related parts. It also owns a chain of auto aftermarket retail stores. It is based in Shanghai.

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