HIBIS Hong Kong Co., Ltd., an offshore subsidiary of HBIS Group Co., Ltd. (“HBIS”), successfully issued US$ 500 million bond, maturing in 3 years with a coupon of 4.25% in March 2017. The bonds were over-subscribed by eager investors home and abroad, which include big domestic commercial banks, renowned securities firms and asset management companies, as well as many top funds and insurance companies abroad. This is the first USD bonds issued by HBIS by its own independent credit, as well as the first bonds issued by a Chinese steelmaker since 2017. It also is the lowest-priced unrated bonds issued by a Chinese company in the industry.

HBIS is one of China’s largest steelmakers and comprehensive service providers. It owns over 20 tier-one subsidiary companies and 120,000 employees. It’s main business is iron and steel, spanning mining, finance and securities, modern logistics, steel trade, equipment manufacturing, etc. Its revenue in 2016 is 290.8 billion yuan, and total asset at the end of the year is 360.4 billion yuan. It’s ranked no. 201 in the Fortune 500, and is rated the highest grade of competitiveness among the MPI China’s Steelmakers’ List compiled by China Metallurgy Industry Planning and Research Institute. HBIS sits on the executive committee of the World Steel Association, and is the rotating chairman of China Iron and Steel Association.

Jingtian & Gongcheng is the PRC legal counsel of the issuer to provide comprehensive legal services.