DeHeng Assisted Guangzhou Intelligent Equipment Group in Issuing 2024 First Tranche of Medium-Term Notes

2024-05-17

On May 7, 2024, Guangzhou Intelligent Equipment Group Co., Ltd. (“GIE” for short) issued its first tranche of medium-term notes of 2024 (referred to as “24 GIE MTN001”). The bond issuance amounted to RMB 800 million, with a 5-year term and an interest rate of 2.62%, the lowest for MTNs of the same term and the same rating recently issued in Guangdong. The issuance was oversubscribed 3.2 times. 

The lead underwriter for this issuance was China Everbright Bank Co., Ltd., with Agricultural Bank of China Co., Ltd. acting as the joint lead underwriter.

As legal counsel for the issuance, the DeHeng team was led by partner Liang Yi and business partner Yang Meihua of the Guangzhou Office, with primary support from lawyers Chen Jiamin, Chen Leyu, Deng Chunmei, and Tao Duo. The team worked closely with the issuer and other intermediaries and provided professional, comprehensive, and high-quality legal services for the project.