After Jingjiang Harbour Group’s (JJHG) first bond issuance at the end of 2021, the company appointed JunHe’s Shanghai and Hong Kong offices as counsel for Chinese law and international law respectively for the purpose of its issuance of phases II, III, IV and V offshore USD bonds in a total amount of USD 202,000,000. Phases II, III, IV and V were listed on the Stock Exchange of Hong Kong (“SEHK”)。
JJHG was established in July 2007 offers commodity trading services. The company wholesales and distributes commodities such as cement, coal, steel and grain. It also provides terminal facility construction, loading and unloading, warehousing and other services. It is the only state-controlled entity in Taizhou Port, Jingjiang Port Area which is engaged in the construction and operation of ports, and it also is the largest public port operator in the area.
In the issuance of phases II, III, IV and V of USD bonds, JunHe’s Shanghai office conducted legal due diligence on JJHG and its onshore subsidiaries. The team issued legal opinions on issues regarding Chinese law for the project, reviewed and revised the transaction documents and provided advice in all respects relating to Chinese law. JunHe’s Hong Kong office provided services such as drafting the offering circular, assisting with the negotiation and revision of the transaction documents and arranging the closing. As the listing agent, the team from JunHe’s Hong Kong office advised the issuer on offering bonds on the SEHK.
This project is a representative case in which JunHe’s onshore and offshore offices worked together to provide “one-stop” legal services for its client. The two offices cooperated closely, improving communication efficiency and saved the client time and costs. JunHe maintained the prudent, efficient and dedicated attitude it has kept in its past practice, and was highly regarded by the client and the other intermediates.