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Zhong Lun Advised Underwriters on RMB 6 billion Bond Issue by Huaneng International Ltd 2008-01-22

  Upon the approval of China Securities Regulatory Commission on December 19, 2007, Huaneng International Ltd got the green light for the issuance of corporate bonds in the domestic market with a upper limit of RMB 10 billion. This is the largest bond issue approved by the CSRC since the implementation of the Trial Rules for Issuance of Corporate Bonds on August 14, 2007.
  On December 25, 2007, Huaneng International Ltd launched its first tranche of a RMB 6 million bond issue (“Tranche 1”). Tranche 1 was divided into three series, with different maturities and interest terms described as follows:, (i) RMB 1 billion for 5-year term with 5.67% fixed book interest; (ii) RMB 1.7 billion for 7-year term with 5.75% book interest; and (iii) RMB 3.3 billion in 10-year term with 5.90% book interest.
  The Firm was retained as the counsel by the syndicated underwriters in this bond issue in 2007. The team was headed by Ye bei-cheng, and was conmposed of members including Zheng Xiao-jin, Liu Dong-ping, Yuan Jun-kai and Xu Kai.