Recently, Jiangsu Nantong Sanjian Group Co., Ltd. ("Nantong Sanjian") successfully issued approximately US$181 million of senior notes due 2022, which will be exchanged for guaranteed senior notes due 2020 issued by Nantong Sanjian. At the same time, on the basis of the exchange offer, Nantong Sanjian successfully completed the new issuance of US dollar bonds. The exchange offer was recognized by the vast majority of bondholders, and eventually reached an exchange ratio of 75.4%, one of the highest of its kind in the Chinese dollar bond market recently. Following our efforts to assist Nantong Sanjian in its first successful issuance of US dollar bonds in 2017, Gao Peng (Nanjing) once again acted as the issuer's domestic legal counsel in this project, providing full legal services, and once again won praise from clients with its professional, high-quality and efficient legal services.

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Nantong Sanjian ranked higher

Nantong Sanjian is a leading large-scale private construction enterprise in China, ranking 22nd according to the 2020 US Engineering News Record (ENR) list of "The World's 250 Largest International Contractors", making it one of the few private builders in China. At the same time, in the list of "Top 500 Chinese Enterprises", Nantong Sanjian ranked 140th, up 10 places from 2019.

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Successful completion of the transaction

In this project, Gaopeng (Nanjing) financial legal service team worked closely with domestic and foreign intermediaries to review and revise a large number of transaction documents and issuance documents, provide suggestions and opinions on the establishment of the transaction structure of the exchange offer, carry out due diligence and issue English legal opinions, and cooperate with the project's partners to successfully complete the complex transaction of the US dollar bond exchange offer.

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