In April 2022, JunHe acted as the UK counsel to Foshan Gaoming Construction Investment Group Co., Ltd. (hereinafter “Gaoming CI”) in its initial public issuance of offshore USD sustainable bonds. These bonds were not only the first offshore bonds issued by a state-owned enterprise in Foshan, but also the first sustainable development bonds in Foshan.
The size of the bond issuance was USD 200 million at a coupon rate of 3.5%, maturing in three years. The bonds were listed on the Stock Exchange of Hong Kong on April 19, 2022.
Established in 2011, Gaoming CI is responsible for infrastructure construction in Gaoming District, Foshan. The company is engaged in areas such as land development and rehabilitation, the transfer of self-owned land, the lease of premises, property management, and the processing and sale of meat goods.
JunHe acted as the UK counsel to the issuer in this project, and provided legal services regarding UK legal issues. They drafted the offering circular, participated in the negotiation and modification of the transaction documents, and arranged for closing. JunHe’s team, as the agent for the listing of the bonds, advised the issuer on the listing of the bonds on the Stock Exchange of Hong Kong and were highly recognized by the issuer and the other intermediaries for its consistently rigorous and efficient work style and meticulous and dedicated service attitude.
This project was led by Mr. Chris Tang.