2024.08.29
In July 2024, Tsinlien Group Company Limited (“Tsinlien Group”) successfully completed a HK$538 million equivalent offshore sustainability-linked syndicated loan, which was jointly certified by the Hong Kong Quality Assurance Agency and CCX Green Finance. The loan was well received by the market: six domestic and overseas banks confirmed their subscription to the loan and there was an over-subscription rate of 2.04.
Tsinlien Group is the first Tianjin state-owned offshore enterprise to obtain a AAA credit rating. It uses domestic and overseas markets to conduct capital operation, asset integration and financing to develop diversified businesses along the Belt and Road, enhance its international operation capabilities and promote global resource sharing. This successful financing is in line with the national strategy to boost the real economy and the loan was well received by many financial institutions. Tsinlien Group's position and strength in the capital market was recognized by financial institutions in mainland China, Hong Kong and Taiwan who displayed confidence in the group’s development prospects.
JunHe acted as PRC legal counsel and international legal counsel to Tsinlien Group. The team acting as PRC legal counsel was responsible for the application to the NDRC for issuing the offshore debt. They drafted the application, issued legal opinions based on Chinese laws, communicated with the NDRC on behalf of Tsinlien Group and provided guidance on the filing procedures. The team acting as international legal counsel participated in the review, negotiation and modification of the finance documents, assisted with the closing, and advised on foreign law related matters. JunHe’s experienced team was recognized and trusted by the client and the other intermediaries for its delivery of rigorous and efficient services and detail-oriented and professional expertise. We assisted Tsinlien Group in obtaining NDRC’s approval for issuing the offshore debt within a tight timeframe, which greatly shortened the financing cycle and solved a major pain point in the transaction.
This was another representative project in which JunHe’s domestic and overseas teams joined efforts to provide one-stop legal services. The close cooperation between the firm’s domestic and overseas offices improved the efficiency of communications, saving the client time and money.
JunHe partner CUI, Bing (Benson) led the team acting as PRC legal counsel and JunHe partners Chris Tang, Lee, Alex Jao Jang and HE, Jiaming (Catherine Ho) led the international legal counsel team.
