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中伦助力日本三菱东京日联银行成功发行首单私募金融熊猫债券
中伦助力日本三菱东京日联银行成功发行首单私募金融熊猫债券
在中伦的专业协助下，日本三菱东京日联银行股份有限公司（"三菱东京日联银行"）作为发行人于2018年1月4日获得中国人民银行核准在境内银行间债券市场分期非公开定向发行人民币金融债券（"熊猫债券发行计划"）并于2018年1月12日成功簿记发行熊猫债券发行计划项下的首期熊猫债券（"首期债券"），首期债券发行金额为10亿元人民币，期限3年。本次发行系日本发行人首次成功在中国资本市场发行熊猫债券，也是在境内银行间债券市场上成功发行的首单私募金融债券。
中伦作为发行人的中国法律顾问，为其熊猫债券发行计划的申请设立及首期债券的发行提供了全程法律服务，包括本次熊猫债券发行计划及首期债券的全套申报及发行文件的起草与谈判及出具中国法律意见书等。中伦合伙人王湘红律师、丁恒律师为本项目的主办合伙人，主要经办律师为贺园丁律师及徐承喆律师，中国法律意见书签字律师为王湘红律师及贺园丁律师，其他参与律师包括陈晓平律师、李柏慧律师及陈海杰律师等。中伦合伙人倪勇军律师和律师高如枫亦为本项目提供了中国税法方面的支持。
本次发行标志着中伦协助境外客户完成熊猫债券领域的又一项创新性交易。此前，中伦曾作为发行人中国法律顾问协助过中国银行（香港）有限公司于2015年在境内银行间债券市场成功发行首单国际商业银行熊猫债券；曾作为发行人中国法律顾问协助波兰共和国财政部于2016年在境内银行间债券市场成功发行首单欧洲国家主权熊猫债券；作为承销商的中国法律顾问协助俄罗斯铝业集团于2017年在境内证券交易所债券市场成功发行首单"一带一路"沿线国家企业熊猫债券。
With the professional support of Zhong Lun, The Bank of Tokyo-Mitsubishi UFJ, Ltd. ("BTMU") as the issuer obtained approval from the People’s Bank of China on 4 January 2018 for BTMU’s issuance of financial bonds denominated in RMB in tranches by way of private placement in the China Inter-bank Bond Market ("Panda Bonds Programme") and successfully issued the first tranche Panda Bonds ("First Tranche Bonds") under the Panda Bonds Programme. The issue size of the First Tranche Bonds is RMB 1 billion and the tenor of the bonds is 3 years. This is the first Panda Bonds successfully issued by Japanese issuer and the first private placement financial bonds successfully issued in the China Inter-bank Bond Market.
Acting as the PRC legal counsel of the issuer, Zhong Lun provided thorough legal service to BTMU on its successful establishment of the Panda Bonds Programme as well as the successful issuance of the First Tranche Bonds, including the drafting and negotiation of the full set of the application package and the issue documents for the Panda Bonds Programme and the First Tranche Bonds, and the issuance of PRC legal opinion etc. The Zhong Lun team on this transaction was jointly led by Partner Xianghong (Shirley) WANG and Partner Heng DING, with principal support by Associate Yuanding (Samuel) HE and Associate Chengzhe XU. The lawyers executing the PRC legal opinion for this deal are Partner Xianghong (Shirley) WANG and Associate Yuanding (Samuel) HE. Other lawyers participating in this transaction include Associate Grace CHEN, Associate Baihui LI and Associate Haijie CHEN etc. Partner Peter NIand Associate Mark GAO also provided legal support from PRC tax perspective.
This transaction also marks the latest innovative Panda Bond transaction which Zhong Lun advised international clients following Bank of China (Hong Kong) Limited’s successful issuance of the first Panda Bonds by international commercial bank in the China Inter-bank Bond Market in 2015 (where Zhong Lun acted as the PRC counsel of the issuer), The Ministry of Finance of the Republic of Poland’s successful issuance of the first sovereign Panda Bond by European country in the China Inter-bank Bond Market in 2016 (where Zhong Lun acted as the PRC counsel of the issuer) and the United Company RUSAL Plc’s successful issuance of the first Panda Bonds by foreign enterprise of the countries along the "One Belt and One Road" in the China onshore stock exchange bond market in 2017 (where Zhong Lun acted as the PRC counsel of the underwriter).
