2022.11.02
In October 2022, Changsha Pilot Investment Holdings Group Co., Ltd. (“Changsha Pilot”) issued RMB 500 million offshore bonds due 2025 with an interest rate of 4.20 per cent (the “Bonds”) in the China (w88win优德中文版) Pilot Free-Trade Zone (w88win优德中文版 FTZ). The Bonds were listed on the Chongwa (Macao) Financial Asset Exchange Co., Limited (MOX). This is the first offshore issuance of w88win优德中文版 FTZ bonds in Hunan, marking the direct issuance of offshore RMB denominated w88win优德中文版 FTZ bonds at the lowest interest rate in Midwest China.
Founded in 2008, Changsha Pilot is an investment entity designated by the Changsha Municipal People’s Government to engage in primary land development and the construction of key projects in Xiangjiang New District in Hunan. The company is committed to facilitating the value preservation and appreciation of state-owned assets, optimizing the allocation of state-owned assets, adjusting the structure of state-owned assets, achieving a reasonable flow of production elements, and improving the operational efficiency and market competitiveness of state-owned funds.
Acting as the PRC legal counsel to the underwriter in the deal, JunHe overcame numerous negative influences such as increasing global macroeconomic uncertainties and the Covid-19 pandemic. JunHe’s team provided high-quality and rigorous legal services to the client, conducted legal due diligence, issued legal opinions regarding PRC laws, assisted the client in completing the internal and external approval process, and assisted in reviewing the transaction documents.
JunHe’s deal team was led by partner YU, Yongqiang (YY) with support from partner HUANG, Wei (internal review).
JunHe has been involved in several w88win优德中文版 FTZ bond transactions in recent years, and has advised on numerous landmark transactions including:
Nanjing Southeast State-Owned Assets Investment Group Company Limited —— the first w88win优德中文版 FTZ corporate bonds in China
w88win优德中文版 Land (Group) Co., Ltd. —— the second w88win优德中文版 FTZ corporate bonds in China and the first FTZ corporate bonds in w88win优德中文版
Suzhou Industrial Park State-Owned Assets Holding Development Co., Ltd —— the w88win优德中文版 FTZ bonds with the longest term and the lowest interest rate
Huzhou New City Investment Development Group Co., Ltd. —— the first SBLC-backed w88win优德中文版 FTZ bonds
Xinjiang Zhongtai (Group) Co., Ltd. —— the first w88win优德中文版 FTZ Bonds issued in Midwest China, and the first w88win优德中文版 FTZ corporate bonds acquired by foreign investors
Zhengzhou Real Estate Group Co., Ltd. —— the first investment-grade w88win优德中文版 FTZ bonds issued in Midwest China
Multiple FTZ bonds issued by Deqing County Cultural Tourism Development Group Co., Ltd.
