The respected China Business Law Journal has recently published “The Deals of the Year 2017”. Jingtian & Gongcheng made the list twice for its work on: “Bank of China Issuing Chinese Green Covered Bonds” and “Wuxi Biologics IPO in Hong Kong”.

Bank of China Issues Chinese Green Covered Bonds

Deal points: This security is the first batch of offshore green covered bonds issued by a Chinese entity. These bonds are backed by BOC’s climate securities traded on the inter-bank bond market and were introduced to China Government Securities Depositary Trust and Clearing Company as a counterparty for the first time.

Bank of China successfully issued US$ 500 million of China’s first ever green covered bonds internationally and the bonds were introduced to China Government Securities Depositary Trust and Clearing Company as a counterparty for the first time. This issuance is backed by the Chinese green assets owned by Bank of China as a collateral for the payment of the notes. The proceeds will be used to support BOC’s green loan projects in China and the cover pool of all green assets are the climate bonds traded on the inter-bank securities market; therefore the deal is of “dual green nature“ in terms of the function of the funding and the nature of the secured assets.

As the underwriter’s Chinese legal counsel, Jingtian & Gongcheng assisted with the entire process including the drafting and finalizing the deal structure and the issuance.

Wuxi Biologics IPO in Hong Kong

Deal Points: Wuxi Biologics is a leading international open-access biologics technology platform offering multinational pharmaceutical and biotechnological companies end-to-end solutions to empower anyone and any company to discover, develop and manufacture biologics from concept stage to commercial manufacturing.

The awards were based on the nominations of the editorial team after their careful and comprehensive evaluation of the deals or cases, where the main criteria include the importance, complexity and innovation as well as scale.