DeHeng Advised Qinghai Provincial Investment Group
Again on the Issuance of Overseas Bonds of US$ 300 Million

2017-07-12

In July 2017, Qinghai Provincial Investment Group Co., Ltd. ("Qinghai Investment Group") issued public offering overseas bonds of US$ 300 million at an interest rate of 6.4%. This is the second successful issuance of overseas bonds by Qinghai Investment Group after the first one with the same amount at the beginning of this year. The funds raised will mainly be used for the key projects such as airport construction and aircraft assembly in China, as well as the repayment of debts. The underwriter of this offering was DBS. DeHeng provided high-quality legal services for this project.

Qinghai Investment Group is a wholly state-owned company established in 1993 with the approval of Qinghai Provincial People’s Government to function in the role of operations and management of state-owned assets. Centering on the economic development strategy of Qinghai Province and the reform and development goals of the company, Qinghai Investment Group actively adjusts its investment direction, improves the investment structure, steps up capital operation, and sets up three major systems of project investment, capital operation, and financial service.

DeHeng, as the Chinese legal counsel for the underwriter, formed a project team with partner Hou Zhiwei as the project leader, and lawyers Zhang Yan, Fan Liangliang and Hu Xueyuan as main team members. This project team cooperated closely with the issuer, underwriter and overseas lawyers in providing comprehensive, professional, efficient and high-quality legal services for this offering.