DeHeng Assisted China Grinm Group in Issuing RMB 1.5 Billion Sci-Tech Innovation Corporate Bond

2025-07-17

On July 16, 2025, China Grinm Group Co., Ltd. issued its 2025 Sci-Tech Innovation Corporate Bond (Tranche 1) to professional investors on the Shanghai Stock Exchange, with an issuance size of RMB 1.5 billion, a term of 5 years, and a coupon rate of 1.67%, setting a new low for corporate bond rates of the same maturity. This marked China Grinm’s first corporate bond issuance following its AAA entity credit rating. It garnered strong interest from 30 institutional investors, with an oversubscription rate of 3.96 times. The investor base included a wide range of mainstream institutions, such as banks, securities companies, trusts, and funds.

As special legal counsel for this bond issuance, the DeHeng team, led by partner Huang Zhenwu, with Huang Zhuoying as the lead partner and with primary support from lawyers Zhao Mingbao and Li Nan, worked closely with China Grinm and other intermediaries, and provided professional, comprehensive, efficient, and high-quality legal services for the bond issuance.