Chenzhou Industry Investment Group Co., Ltd. (“Chenzhou Industry Investment Group” for short) successfully issued the senior unsecured Euro bonds at fixed price for credit enhancement on March 27, 2020. The total scale of bonds issued this time stood at EURO120 million, with the annual coupon rate of 2.5% and the maturity period of 3 years. After the first issuance of overseas bonds by Chenzhou Industry Investment Group (former “Chenzhou Hi-Tech Investment Holding Co., Ltd.”) in December 2019, Gaopeng & Partners Nanjing Office once again served as the Chinese legal adviser of the underwriter, while Central Wealth Securities acted as the exclusive global coordinator, joint book-runner and joint lead manager, and Huaxia Bank Changsha Branch provided irrevocable standby letter of credit for the bonds.

As the shareholders of Chenzhou Industry Investment Group, the State-owned Assets Supervision and Administration Commission of Chenzhou, Hunan and the Administration Committee of the Chenzhou High-tech Industrial Park are state-owned enterprises headquartered in Chenzhou, Hunan Province, they are key constructors of municipal infrastructure, and also the only infrastructure constructor of Chenzhou Hi-tech Industrial Zone (Chenzhou Export Processing Zone). The bonds issued this time were closely followed by international investors, and actively subscribed by multiple overseas investors.

The legal service team for the issuance of overseas bonds this time was led by Lawyer Jian LIANG, Senior Partner of Gaopeng & Partners Nanjing Office. While maintaining close partnership with other specialized service providers both at home and abroad, the team provided holistic legal services thanks to the strong support and coordination of Chenzhou Industry Investment Group, including assisting the issuer in designing the bond issuance and trading structure, drawing up and reviewing legal instruments and offering circular, conducting due diligence, and issuing legal opinion in English. The legal services were not affected by the COVID-19 pandemic as the team delivered professional and efficient services, and finally won positive evaluation from the client and other specialized service providers.

(This article is translated by software translator for reference only.)