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Tahota helped Chengdu Communications Investment (Group) Co., Ltd. successfully issue US$600 million bonds overseas

2021-12-06 Views:3330

On November 23, 2021, Chengdu Communications Investment Group (hereinafter referred to as "CDCCIC" or "issuer") successfully issued US$600 million senior unsecured bonds in the overseas market, with a bond term of 3 years, coupon rate 2.2% and bond rating BBB+, which sees a stable prospect. The domestic legal counsel of the underwriter is served by the lawyer of Tahota.

This issuance is the largest single issue of US dollar bonds of local state-owned enterprises in Sichuan with the lowest issue interest rate. It is a milestone in broadening the financing channels, raising the upper limit of financing scale and locking competitive financing costs. The successful issuance of US dollar bonds represents the recognition of international capital to state-owned enterprises in Chengdu, and also expects the future of Chengdu as an important strategic position in the "Chengdu-Chongqing Economic Circle".

Lawyer Yang Pengfei (partner of Tahota), lawyer Yang Hongxia, lawyer Peng Zheng and other team members were entrusted as the Chinese legal adviser to the underwriter in this issuance, to carry out legal due diligence, review the compliance of transaction documents from the perspective of Chinese law, participate in the discussion and teleconference of each intermediary agency, and confirm matters including the filing of the National Development and Reform Commission and the filing of the State Administration of Foreign Exchange, and issuing of Legal Opinions in the framework of Chinese law. In this issue, lawyers Kang Xidan, Li Yuelin, Fu Hao, Tan Mengmeng, Tian Qian and Xie Chenling of the team provided a lot of assistance.

Assistance by Tahota in successful issuance of US dollar bond by Chengdu Communications Investment (Group) Co., Ltd. has further consolidated the leading position of Tahota in legal service regarding overseas bonds in the central region and the western region of China.