DeHeng Advised Shandong Energy Group
on Issuing USD 100 Million Medium- and Long-term Bonds
2020-07-17
On July 15, 2020, Shandong Energy Group Australia Pty Ltd. issued USD 100 million of unrated bonds overseas at a coupon rate of 4.20%. Shandong Energy Group provided guarantee for the issuance.
Shandong Energy Group is a large-scale energy enterprise established based on the integration and reorganization of six local coal companies led by the provincial Party committee and the provincial government. With registered capital of nearly RMB 17 billion, it has a total of 44.6 billion tons of coal resources. Its internal and external coal output has surpassed 100 million tons for eight consecutive years. It has invested in 1,0210 MW of installed electricity capacity and 2 billion cubic meters of coal-to-natural gas capacity, and plans to develop 600 MW of offshore and onshore wind power. It has established presence in six Chinese provincial regions and five countries and regions abroad. With 159,000 employees, it is Shandong's largest state-owned enterprise in terms of economic size, the population of employees and Party membership. It is the second largest supplier of high-quality coking coal in China, the largest supplier of clean and efficient coal in East China, and the largest coal producer in Shandong Province.
As the Chinese legal counsel for the issuance, the DeHeng team, led by partner Hou Zhiwei, with primary support from Zhang Yan, Hu Xueyuan, Yang Jingjing, Xianyu Jiashan, Sun Yuehao and Jiang Yue, provided professional, comprehensive and high-quality legal services for the client.
