On March 2, 2017, Jingtian & Gongcheng’s deal Bank of China green covered notes won Structured Finance and Securitization Deal of the Year at IFLR Asia Awards 2017.

IFLR was first published in 1982, and is a leading publication of financial laws to serve legal affairs of financial institutions, corporations and private lawyers. Through its editing teams in USA, UK and Asia, IFLR provides professional content covering analysis of  latest deal structures, regulatory policy changes to global regulatory authorities and interviews of corporate legal affairs, etc.

In November 2016, Bank of China successfully issued US$ 500 million green covered notes abroad. It’s the first green covered notes in China and China Central Depository and Clearing Co., Ltd. was introduced as the participatory n party for the first time. The bond is covered by the domestic green assets of Bank of China to provide guarantee the payment obligations of the notes. Proceeds from the issuance is to support the domestic green credit projects of Bank of China, and the green assets in the covered assets pool are all climate-related bonds traded on the China Interbank Bond Market, and thus have “double green features” in terms of use of proceeds and aseets covered.  

Jingtian & Gongcheng is underwriter’s PRC legal counsel to provide comprehensive legal support such as deal structure verification and bond issuance.

3 other projects from Jingtian & Gongcheng are nominated for deal of the year:

——Bank of China’s first international green bonds (Bank of China New York Branch and Luxemburg Branch issuance in July 2016) in the segment of “Debt & equty-linked);

——Jiangsu Newheadline in the segment of “High yield” bonds;

——Pacific Andes Resources Development restructuring in the segment of “Restructuring”.