HONG KONG, December 16, 2024: Morgan Lewis represented the lead managers in a Regulation S offering of CNY2.142 billion (approximately $293.9 million) offshore guaranteed sustainable Yulan bonds, a Chinese corporate bond issued to international investors. The bonds were issued by Xihui Haiwai I Investment Holdings Co. Ltd. and unconditionally and irrevocably guaranteed by Wuxi Construction and Development Investment Co. Ltd.
The bonds have a coupon of 2.68% per annum and will mature in 2027. They are being issued as sustainable bonds under the Guarantor’s Sustainable Financing Framework. The Yulan bonds are issued under an initiative that was established by Shanghai Clearing House and Euroclear Bank SA/NV in December 2020 through which Yulan bonds are issued, registered, settled, and cleared.
Morgan Lewis partners David Liao, Carter Brod, and Billy Wong, of counsel TatFu Wong, and associates Linzy Ning, Nelson Chiu, and Vicky Guo advised the lead managers.
In Hong Kong, Morgan, Lewis & Bockius is a separate Hong Kong general partnership registered with The Law Society of Hong Kong.