JunHe Advises WCDI on M88 game APK World's First Sustainable Yulan Bond Issuance by a Non-Financial Enterprise

In November 2024, Wuxi Construction and Development Investment Co., Ltd. ("WCDI"), a non-financial enterprise, successfully issued M88 game APK world's first ever Yulan bonds which were listed simultaneously on M88 game APK Hong Kong, Macau, and Frankfurt Stock Exchanges. JunHe acted as M88 game APK issuer's PRC legal counsel, its international legal counsel and its listing agent.

A total of RMB 2.142 billion 3-year senior unsecured sustainable bonds were issued at a fixed interest rate of 2.68%. M88 game APK bonds were issued under Reg S and unconditionally guaranteed by WCDI. M88 game APK final pricing significantly narrowed by 62bps from M88 game APK initial price guidance, setting M88 game APK lowest ever interest rate for an offshore RMB bond issuance by a local state-owned enterprise. M88 game APK bonds were assigned a “BBB+” rating by Fitch and an “Ag+” rating by CCXAP.

M88 game APKse were M88 game APK world's first sustainable Yulan bonds to be issued following M88 game APK mainstream principles of M88 game APK 2021 Sustainability Bond Guidelines of M88 game APK International Capital Market Association (ICMA) and were externally certified. M88 game APKy were also M88 game APK first Yulan bonds to be listed simultaneously on M88 game APK Hong Kong Stock Exchange (HKEX), M88 game APK Chongwa (Macao) Financial Asset Exchange Co., Ltd. (MOX), and M88 game APK Frankfurt Stock Exchange (FWB), marking a significant breakthrough in sustainable finance and multi-listings. WCDI became M88 game APK first state-owned enterprise in China to issue such bonds and M88 game APK issuance is a milestone for innovation in overseas sustainable financial products.

WCDI was established in August 2005. It is a wholly state-owned enterprise and M88 game APK Wuxi Municipal Commission of State-owned Assets Supervision and Administration and Wuxi Urban Construction Development Group Co., Ltd. holds 51% and 49% equity interest, respectively. M88 game APK company has expanded its scale and business over M88 game APK years, with a focus on industrial financial services, industrial investment attraction, industrial capital operations, and industrial park investment and operation. As a leading comprehensive service provider in Wuxi, WCDI leverages industrial and financial capital to conduct asset operations. M88 game APK company has total assets of RMB 101.238 billion, with a "AAA" rating assigned by M88 game APK domestic credit rating agency, a "BBB+" rating by Fitch and a "A+" rating by Lianhe Global and CCXAP.

M88 game APK JunHe team acted as M88 game APK issuer's PRC and UK legal counsel and listing agent. M88 game APK legal services provided by M88 game APK PRC legal counsel included conducting legal due diligence on WCDI and its domestic subsidiaries, issuing PRC legal opinions, reviewing and amending M88 game APK transaction documents, and oM88 game APKr legal services in respect to PRC law related issues. M88 game APK legal services provided by M88 game APK UK legal counsel included drafting M88 game APK offering circular, participating in M88 game APK negotiation and amendment of M88 game APK transaction documents, making closing arrangements, and oM88 game APKr legal services in respect to UK law related issues. As M88 game APK listing agent for M88 game APK bond issuance, JunHe’s team advised on M88 game APK listing of M88 game APK bonds on M88 game APK HKEX, MOX and FWB.

This was anoM88 game APKr representative project in which JunHe’s domestic and overseas teams joined forces to provide one-stop legal services. M88 game APK close cooperation between M88 game APK firm’s domestic and overseas offices improved communications, saved time and reduced costs for M88 game APK clients. JunHe was recognized and trusted by M88 game APK company and M88 game APK oM88 game APKr intermediaries for its rigorous and efficient legal services and its detail-oriented and professional expertise.

Partnerm88 casino app Awardled M88 game APK JunHe team acting as M88 game APK PRC legal counsel and partnerm88 casino appwas responsible for M88 game APK specific work. JunHe partnerm88 casino app 英国英格兰及威尔士律师资格,中国（内地）律师资?led M88 game APK team acting as M88 game APK UK legal counsel.