AllBright Advises Shenzhen Gas Corp., Ltd. on Issuing 2.5 billion in RMB Bonds
2015-02-1016205On February 2, 2015, Shenzhen Gas Corporation Ltd. (Shenzhen Gas) successfully issued bonds on the National Inter-bank Bond Market. Shenzhen Gas has gained the approval from the National Association of Financial Market Institutional Investors to issue a total of 2.5 billion in RMB super short term financing bills in a number of batches, effective for two years starting January 26, 2015. The first batch of bonds issuing topped 900 million RMB, with a coupon rate of 4.85% and a 270- day maturity. China Citic Bank was the lead underwriter and book runner.
Shenzhen Gas, the sole urban gas provider in Shenzhen, is a large-scale state-owned public company under Shenzhen State-owned Assets Supervision and Administration Commission. The company enjoys a AAA rating by China Cheng Xin International Credit Rating Co., Ltd.
AllBright’s Shenzhen Office partners Jiang Yigang and Linda Song and associate Huang Youchuan advised Shenzhen Gas on the bond issuance. In addition, the team led by Mr. Jiang has also advised Shenzhen Gas on its short-term financing bills and medium-term note issuances at the National Association of Financial Market Institutional Investors with an accumulated value of more than 3 billion RMB.
