The Debt Capital Markets team of Jingtian & Gongcheng LLP (“Jingtian & Gongcheng Hong Kong Team” or the “Team”) acted as international counsel in April 2025, assisting two major local state-owned enterprises in successfully pricing and issuance of offshore USD-denominated bonds, achieving remarkable results amid the recent complex and volatile international capital market environment.
On April 9, 2025, Hefei Industry Investment Holding (Group) Co., Ltd. successfully priced a USD500 million, 3-year offshore bonds issuance with a coupon rate of 4.75%. As the international counsel to the issuer, Jingtian & Gongcheng Hong Kong Team has provided high-quality international legal services in drafting the offering circular, reviewing and negotiating transaction documents, and assisting in bonds listing work. Their professionalism and meticulous work ethic were highly commended by the client.
On April 15, 2025, Lianyungang Port Group Co., Ltd. successfully priced a USD310 million, 3-year offshore bonds issuance with a coupon rate of 4.85%. As the international counsel to the issuer, Jingtian & Gongcheng Hong Kong Team has offered first-class international legal services for the client's another successful bonds issuance in the international capital market. The Team's extensive experience and commitment in provision of highest-caliber legal advice has received the client's strong endorsement. Additionally, this sustainable bonds were listed on the Singapore Exchange, for which Jingtian & Gongcheng Hong Kong Team also acted as the listing agent for the client.
In recent years, Jingtian & Gongcheng Hong Kong Team has acted as international counsel in numerous offshore bond issuance transactions for dozens of local state-owned enterprises. In addition to its extensive experience in offshore bond offerings by large-scale and local SOE issuers, the Team has participated in multiple landmark transactions, including those setting records as the “maiden issuance”, the “first” or “largest” deals in similar offering transactions. For example, in 2024, Jingtian & Gongcheng Hong Kong Team acted as the issuer's international counsel in representing Zhongyuan Yuzi Investment Holding Group Co., Ltd. in its successful issuance of USD500 million offshore bonds. This transaction marked Henan Province's first offshore sustainable bonds offering and, at the time of issuance, was also the largest offshore bond offering by a Henan-based enterprises since 2022.
Across numerous offshore bond issuances, Jingtian & Gongcheng Hong Kong Team has earned widespread client recognition and praise from intermediary teams for its exceptional and efficient execution capabilities, as well as its pragmatic and dedicated work ethic.
