Jingtian & Gongcheng Hong Kong Debt Capital Markets Team Maintains Momentum in Completing Multiple Offshore Bond Issuances
Date：2022-06-09
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- The Firm’s Hong Kong and onshore teams have advised Hefei Industry Investment Holding (Group) Co., Ltd. (合肥市产业投资控股（集团）有限公司) as Guarantor in connection with the issuance of its US$500 million guaranteed bonds due 2025, which was priced on 31 May 2022. This issuance is the largest single offshore bond issuance by a state-owned enterprise in Anhui Province. The Issuer team and all other parties have seized a favourable pricing window despite adverse factors such as the multiple-rounds of US treasury rates increase this year and the ongoing COVID-19 pandemic, efficiently completing the pricing and smooth issuance of the offshore bonds. The Firm’s Hong Kong and onshore teams have acted as the Issuer’s international counsel and PRC counsel, respectively, providing streamlined and integrated international and PRC legal services to clients in all aspects such as drafting of offering circular, documentation review and negotiation, legal due diligence and the issuance of legal opinion. The rigorous and meticulous work ethic of the Firm’s teams have sustained a professional standard for the Firm and has been highly regarded by clients.
- The Firm’s HK DCM team has advised Jinan Energy Group Co., Ltd. (济南能源集团有限公司) (“Jinan Energy”) as Guarantor in connection with the issuance of US$100 million guaranteed bonds due 2023, which was priced on 20 April 2022. Such issuance was cleared on the Macao Central Securities Depository and Clearing System and listed on the ChongWa (Macao) Financial Asset Exchange Co., Ltd. This was the debut offshore bond issuance of Jinan Energy. The Firm’s HK DCM team has provided a full range of legal services as the Issuer’s international counsel in this transaction. Its professional advices and extensive experience have been highly praised by the client and reassuring to Jinan Energy’s successful debut issuance in the international debt securities market.
- The Firm’s HK DCM team has advised the lead managers in connection with the issuance of US$150 million credit enhanced guaranteed bonds due 2025 by Huzhou Wuxing Industrial Investment Development Group Co., Ltd. (湖州吳興產業投資發展集團有限公司) (“Huzhou Wuxing Industrial Investment”) as the Guarantor. This issuance was successfully priced on 29 April 2022. The Firm’s HK DCM team acted as the international counsel for the lead managers in this debut offshore bond issuance of Huzhou Wuxing Industrial Investment and has coordinated with all relevant parties to ensure swift and efficient completion of all project execution and documentation works.
- The Firm’s HK DCM team has advised the lead managers in connection with the issuance of EUR139 million credit enhanced green bonds due 2025 by Wuxi Jinyuan Industry Investment Development Group Co., Ltd. (“Wuxi Jinyuan Industry Investment”). This was the first green euro-bonds issued by a state-owned enterprise in Jiangsu Province. The transaction is also the debut offshore bond issuance for Wuxi Jinyuan Industry Investment. The Firm’s HK DCM team has efficiently completed the documentation work and due diligence under a tight project execution timeline, earning once again recognition from its clients on the team’s excellent execution ability and rich project experience.
