China CITIC Bank Corporation Limited (CITIC) recently successfully completed the issuance of its 2022 financial bonds (series 1) (the Bonds). The RMB 30 billion bonds will mature in three years with a coupon rate of 2.80% and an oversubscription rate of 2.8. The proceedings raised will be primarily used to optimize the issuer’s mid- to long-term liabilities to assets ratio, increase its sources of stable mid- to long-term debts, and support its mid- to long-term assets business.
JunHe acted as the issuer’s counsel in this project. With its quality, meticulous and efficient legal services, JunHe assisted the issuer in obtaining regulatory approval, carried out comprehensive legal due diligence and rendered legal opinions under Chinese law. Thanks to JunHe’s efforts, the issue was completed successfully despite the negative effects of COVID. JunHe’s reliable work and professional services have been highly praised by the issuer and the other intermediaries.