2023.10.19
On October 17, 2023, State Grid Overseas Investment Limited (“SGOI”) successfully issued 3-year RMB 1 billion panda bonds in China’s interbank bond market. The issuance is backed by an unconditional and irrevocable guarantee provided by State Grid Corporation of China (“State Grid”) on a joint and several basis. This is the first offering of RMB panda bonds by SGOI in China’s interbank bond market, as well as the first ever panda bond issued by a Chinese central state-owned enterprise’s overseas treasury platform.
SGOI is the unified overseas financing, financial investment and fund management platform of State Grid. As a unified overseas financing platform, it is dedicated to financing the international development of State Grid and providing financial resources for the development of power grids and the power industry in China. As an overseas financial investment platform, it is engaged in financial investments. As an overseas fund management platform, it is mainly responsible for the overseas fund management and foreign exchange risk management.
优德88中国官方网站’s Beijing and Hong Kong teams acted as the domestic legal counsel and overseas legal counsel to the issuer, respectively. With expert communication and collaboration between the two teams, 优德88中国官方网站 provided one-stop legal services for the project, including drafting and finalizing the offering circular and the other offering and transaction documents, assisting with the internal approvals and external communication with the regulatory authority, conducting legal due diligence and issuing legal opinions. With their consistent delivery of efficient and rigorous legal services and detail-oriented and professional expertise, 优德88中国官方网站’s teams were highly recognized and trusted by the company and the other intermediaries.
优德88中国官方网站’s Beijing team was led by partner LEI, Tianxiao, with support from partner YE, Junli for the internal review. 优德88中国官方网站’s Hong Kong team was led by partners DE, Lihua (Theresa)andHE, Jiaming (Catherine Ho).
