China Power New Energy announces plans for renminbi-denominated bonds

By Angela McDaniels

Tacoma, Wash., April 12 - China Power New Energy Development Co. Ltd. plans to price renminbi-denominated bonds in Hong Kong, according to a company news release.

The bonds will be guaranteed by the company's subsidiaries.

The proceeds of the proposed offering will be used for the company's business operations and development needs and to fund the construction and operation of its clean energy projects in China.

China Power is an investment holding company based in Hong Kong. Its subsidiaries are engaged in property investment and development, bakery and food, general trading, consultancy and power generation.

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