On November 12, 2024, The Hongkong and Shanghai Banking Corporation Limited ("HSBC") successfully issued RMB 4.5 billion 3-year panda bonds in the China Interbank Bond Market at an interest rate of 2.15%. This was HSBC's second issuance of panda bonds since 2015 and set the lowest issuance interest rate for 3-year panda bonds by a foreign commercial bank.
HSBC was established in 1865 and is a founding member of the HSBC Group. HSBC provides funding for the increasingly frequent business and trade activities between Asia and Europe and has grown into the largest bank incorporated in Hong Kong. HSBC and its subsidiaries offer comprehensive domestic and international banking and related financial services in major markets such as Hong Kong, mainland China, Australia, India, Indonesia, Malaysia, Singapore, and Taiwan, forming the largest international financial institution network in the Asia-Pacific region.
JunHe acted as the PRC legal counsel to the lead underwriter and assisted the client in drafting the transaction documents, conducting due diligence on the issuer, and reviewing the prospectus and other transaction documents. With its efficient and high-quality legal services and detail-oriented and professional expertise, JunHe’s team was recognized and trusted by the client.
Partners YU, Yongqiang (YY) and LEI, Tianxiao led the JunHe team, with support from partner ZHOU, Fang for the internal control matters.