Zhong Lun Advises on USD500,000,000 Guaranteed Bonds by an Offshore Subsidiary of Yiwu State-Owned Capital Operation Co., Ltd.-中伦律师事务所
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Zhong Lun Advises on USD500,000,000 Guaranteed Bonds by an Offshore Subsidiary of Yiwu State-Owned Capital Operation Co., Ltd. 2017-12-15

On November 28, 2017, an offshore subsidiary of Yiwu State-Owned Capital Operation Co., Ltd. (“YSCO”) has successfully issued USD500,000,000 4.00 per cent. Guaranteed Bonds due 2020 (the “Bonds”), which has been unconditionally and irrevocably guaranteed by YSCO. It is the first time that local state-owned enterprise of Zhejiang Province has publicly issued USD bonds overseas. It is also the first time that state-owned enterprise at the county level has publicly issued USD bonds. Guosen Securities (HK) and Standard Chartered Bank acted as the Joint Global Coordinators for the Bonds. The Bonds have been listed on The Stock Exchange of Hong Kong Limited on December 6, 2017.

 

Zhong Lun Law Firm acted as the PRC counsel of the Joint Lead Managers for the Bonds and provided comprehensive legal services throughout the Bonds issuance. The legal team was led by Wang Hua (Partner) and team members include Chen Maoyun, Huang Hai and Xue Zhen.

 

Yiwu State-Owned Capital Operation Co., Ltd. (“YSCO”) is a wholly state-owned company established and supervised by the State-owned Assets Supervision and Administration Commission of Yiwu (“Yiwu SASAC”). YSCO, as the centralized and unified investment and financing platform for Yiwu state-owned enterprise group, is mainly engaged in state-owned capital operation and state-owned equity management.