Inner Mongolia Yili Industrial Group Co., Ltd. ("Yili Group") issued a five-year USD 500 million bond on November 20 via its overseas, wholly-owned subsidiary, Yili Holding Investment Limited.

As Yili Group’s first international bond issuance, it sets the lowest coupon rate among comparable bonds from similar enterprises. Yili consequently became the Chinese consumer goods company with the highest international credit rating. The bond received offers totaling USD 3.6 billion–more than seven times the issued amount.

Yili Group is one of the dairy enterprises with the largest scale and more comprehensive range of products in China. The company has a diverse portfolio and a wide range of channels. In 2019, the company achieved total revenues of CNY 90.223 billion, up 13.41% year-on-year, ranking first in Asia's dairy industry and registering sales of over CNY 10 billion for the second consecutive year. In the first three quarters of 2020, the company reported total revenues of CNY 73.77 billion amid the COVID-19 pandemic.

As the Chinese legal adviser to the underwriter for the issuance, Jingtian & Gongcheng provided comprehensive, end-to-end legal services for the issuance.