DeHeng Advised Qinghai Provincial Investment Group
on Issuing Overseas Bond Again

2018-3-29

On March 22, Qinghai Provincial Investment Group Co., Ltd. ("Qinghai Investment Group") successfully issued three-year US$ 250 million overseas bonds, with an interest rate of 7.875%. This is the second time that Qinghai Investment Group successfully issued overseas U.S. dollar bonds after its issuance of U.S. dollar overseas bonds in three batches in 2017. DeHeng provided legal services for the issuer.

The underwriters of this issue are Credit Suisse Securities (Europe) Co., Ltd., GF Securities (Hong Kong) Brokers Co., Ltd. and Orient Securities (Hong Kong) Co., Ltd. The trustee is the London branch of BNY Mellon. The issuer is Qinghai Investment Group, and this issuance is unsecured.

Qinghai Investment Group, a wholly state-owned company approved by the Qinghai Provincial People's Government in 1993, exercises the functions as the operating entities and managing entities of state-owned assets. In keeping with the economic development strategy of Qinghai Province and the company's reform and development goals, it actively adjusts investment direction, improves the investment structure, steps up efforts in capital operation, and establishes three systems of project investment, capital operation, and financial services. Qinghai Investment Group continuously adjusts its industrial structure and development direction to form an industrial chain dominated by "coal-electricity-aluminum-aluminum product processing and manufacturing", thereby reducing costs, enhancing its ability to withstand market risks, enhancing corporate profitability, improving the added value of products, and fostering new profit growth points, laying a solid foundation for the long-term development of the company.