DeHeng Advised Industrial Securities on Issuing USD Bonds
2020-01-19
Through an overseas wholly-owned subsidiary, Industrial Securities Co., Ltd. successfully issued three-year bonds of no more than USD 295 million in December 2019, at the coupon rate of 2.90%. Industrial Securities (Hong Kong) Financial Holdings Limited provided keepwell deed, and Fujian Branch of Industrial and Commercial Bank of China provided standby letter of credit for the issuance. China Industrial Securities International Financial Group Limited and Industrial and Commercial Bank of China acted as the joint global coordinators, joint lead managers and joint book managers of the issuance, China CITIC Bank, CMBC Hong Kong Branch, CMB Wing Lung Bank and Hong Kong Branch of Shanghai Pudong Development Bank as the joint lead managers and joint book managers.
Industrial Securities, founded on October 29, 1991, is a national comprehensive and innovative securities company approved by China Securities Regulatory Commission. It went public on Shanghai Stock Exchange in October 2010, with the stock code 601377.SH.Its scope of business covers securities brokerage, underwriting and sponsoring, investment consultation, owned securities, financial advice, margin trading, fund and financial products sales, fund custody, and introducing broker service for futures. It operates 219 branches in 31 provincial-level administrative regions in the mainland, including 83 branch companies and 136 securities outlets. It holds equity in AEGON-INDUSTRIAL Fund Management Co., Ltd., China Industrial Securities International Financial Group Limited and Industrial Futures Co., Ltd.; wholly owns Industrial Asset Management Co., Ltd., Industrial Innovation Capital Management Co., Ltd., Industrial Investment Management Co., Ltd.; operates Haixia Equity Exchange (Fujian); and is an investor of China Southern Asset Management Co., Ltd., China Securities Credit Investment Co., Ltd., China Securities Internet System Co., Ltd., and E-Capital Transfer Co., Ltd. It has also set up Industrial Securities Charitable Foundation to contribute to charity and poverty alleviation.
As the Chinese legal counselor for the underwriters, the DeHeng team was headed by lawyer Hou Zhiwei, partner of its Beijing Office, with primary support from Zhang Yan, Hu Xueyuan, Yang Jingjing, Xianyu Jiashan, Sun Yuehao and Wang Zhi. They worked closely and actively with the issuer, underwriters and overseas legal team to provide comprehensive, professional, efficient and premium legal services for the issuance.
