JunHe was appointed by Fujian Zhanglong Group Co., Ltd. (“Zhanglong Group”) to be its counsel and listing agent to assist in the issuance of unsecured senior green bonds with a total amount of USD 500 million at a coupon rate of 4.80%. The bonds were listed on the Stock Exchange of Hong Kong (SEHK) on July 21, 2022 and become mature on June 20, 2025.
Zhanglong Group was established in 2001 and operates as an investment company. The Company invests in city infrastructure projects, logistics management, tourism development and other fields. It also operates finance, biological technology development and other businesses. Fitch Ratings has affirmed the long-term foreign and local currency issuer default rating as ‘BBB-’ with a stable outlook and Lianhe Ratings Global assigned it the default rating of ‘BBB+’ with a stable outlook. Fitch Ratings also affirmed the debt rating of ‘BBB-’ for the bond issue. Standard & Poor’s has provided a second-party opinion on the issuer’s green financing framework.
JunHe’s team was appointed to be the issuer’s counsel in respect to international laws, and drafted the offering circular for the issuance. The team participated in the negotiation and revision of the transaction documents, assisted with the closing and provided advice on UK laws in relation to the issuance. JunHe’s team also acted as the listing agent and provided the issuer with services for the bond offering on the SEHK.
The Project was led by partner Chris Tang.