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Zhong Lun Advised Ministry of Railway in its Issuance of Railroad Construction Bond for RMB 45 billion 2008-01-22

  Upon the approval of the SDRC, the Ministry of Railway made a public issuance of Railroad Construction Bond Tranche 1 of 2007, starting from November 28 to December 4, 2007. The total bond issue was RMB 45 billion. This bond issue represented the largest single bond issue in Chinese bond market and was a record breaking one following the single issuance of Railroad Construction Bond in the size of RMB 20 billion last year.
  The actual sales accomplished for the Railroad Construction Bond tranche 2007-1 was RMB 35 billion, which was divided into three categories with maturities of 7 years, 10 years and 15 years respectively.
  Zhong Lun has been retained consecutively as counsel to the syndicated underwriters for three years in the issuance of three tranches of Railroad Construction Bonds since 2006. During the same period, we have also been retained by the Ministry of Railway as the issuer’s counsel for three consecutive years.
  The Firm’s bond team is headed by Ye Bei-cheng and is composed of members including Zheng Xiao-jin, Liu Dong-ping, Yuan Jun-kai and Xu Kai.