2024.02.01
In January 2024, Hainan Nongken Investment Holding Group Co., Ltd. (“HSF”) successfully issued US$ 300 million 3-year senior unsecured fixed-rate bonds.
This was HSF’s second overseas bond issuance after its debut in 2021 in the international capital market. The bonds were well received by investors after the book was built. The subscription by the investors exceeded US$ 750 million, and the bonds were oversubscribed more than 2.5 times. With the support of a high-quality book, the final price guidance decreased by 45 basis points compared with the initial price guidance, achieving a desirable pricing outcome. This positive outcome reflects HSF’s efforts over the past three years in shaping an outstanding image in the international capital market and attracting international investors.
JunHe acted as the PRC legal counsel to the underwriter, the international legal counsel to the underwriter and the legal counsel to the trustor, respectively. The legal services provided by the PRC legal counsel to the underwriter included conducting domestic legal due diligence, issuing PRC legal opinions and reviewing the transaction documents. The legal services provided by the international legal counsel to the underwriter included drafting a full set of transaction documents, participating in the negotiation and amendment of the transaction documents and issuing overseas legal opinions. The legal services provided by the legal counsel to the trustor included reviewing the transaction documents and providing legal opinions. JunHe was recognized and trusted by the clients and the other intermediaries for its rigorous and efficient legal services and its detail-oriented and professional expertise.
This is another representative project in which JunHe’s domestic and overseas teams joined forces to provide one-stop legal services. The close cooperation between the firm’s domestic and overseas offices improved communications and saved time and reduced costs for the clients.
The JunHe team acting as the PRC legal counsel to the underwriter was led by partners YU, Yongqiang (YY) and SUN, Fengmin, and the team acting as the international legal counsel to the underwriter was led by partners Chris Tang and SHI, Libin. Partner Lee, Alex Jao Jang led the JunHe team acting as the legal counsel to the trustor.
