DeHeng Advised Several Companies on Overseas Bond Issuance

2022-07-29

China Three Gorges Corporation

 In July 2022, China Three Gorges Corporation issued a bond worth USD 300 million overseas at a coupon rate of 3.625%. 

DeHeng once again served as the issuer’s PRC legal counsel and advised it on completing this offering.

Guangxi Communications Investment Group Co., Ltd. 

In July 2022 Guangxi Communications Investment Group Co., Ltd. issued a bond worth USD 300 million overseas with a coupon rate of 3.95%, the lowest rate among Chinese bonds issued overseas in the same period. 

DeHeng acted as the PRC legal counsel for the underwriter and advised the issuer on completing the offering. 

Changde Economic Construction Investment Group Co., Ltd.   

In March 2022, Changde Economic Construction Investment Group Co., Ltd.  completed the bond issuance of USD 143 million overseas, with the coupon rate of 6.30%.

DeHeng again acted as the PRC legal counsel for the underwriter and advised the issuer on completing the offering.

Taixing Jinjiang Investment Co., Ltd. 

Taixing Jinjiang Investment Co., Ltd. issued several bonds overseas from April to July 2022. The first tranche in April had a scale of USD 30 million, a term of 35 months and a coupon rate of 3.5%. This was the first USD bond with a medium- and long-term standby L/C credit enhancement issued by a company in Taixing. The second tranche in July was a senior unsecured bond with a scale of EUR 30 million, a term of 35 months and a coupon rate of 3.5%. This medium- and long-term Euro bond with a SBLC from a Chinese issuer was subscribed by many investors.

DeHeng acted as the PRC legal counsel for the underwriter and advised the issuer on completing the offering. 

For the above deals, the DeHeng team was led by partner Hou Zhiwei, with primary support from partner Zhang Yan, as well as Wang Jing, Hu Xueyuan, Geng Chen, Li Wentao, Yang Youqi, Liu Di, Wang Haoyu, Sha Fei and Wang Hetong.