DeHeng Law Offices (Chongqing) Assisted Chongqing Three Gorges Water Conservancy and Electric Power Co., Ltd. in 2024 Tranche-1 MTN Issuance

2024-11-18

Recently, Chongqing Three Gorges Water Conservancy and Electric Power Co., Ltd. (“Three Gorges Water Conservancy”) obtained approval from the National Association of Financial Market Institutional Investors (NAFMII) for the registration of its super & short-term commercial paper (SCP), commercial paper (CP), and medium-term notes (MTN), receiving the Notices of Acceptance of Registration (No. ZSXZ [2024] SCP258, ZSXZ [2024] CP129, and ZSXZ [2024] MTN798, respectively). The registered amounts for the SCP, CP, and MTN are RMB 1.2 billion, RMB 800 million, and RMB 2 billion, respectively.

On November 14, 2024, Three Gorges Water Conservancy issued its first tranche of MTN for 2024, with a total issuance size of RMB 1 billion, a maturity of 3 years, and a coupon rate of 2.35%.

As the special legal advisor for this bond issuance project, the DeHeng team, led by partner Tang Junfeng and with primary support from partner Liu Qian and lawyer Shi Fei, worked closely with the issuer and underwriters and provided comprehensive, professional, efficient, and high-quality legal services for the registration of the SCP, CP and MTN, as well as the issuance of the first tranche of MTN in 2024. The team’s efforts were highly praised by all parties involved in the project.