2025.12.03
In November 2025, China Three Gorges International Corporation (Three Gorges International) successfully issued 600 million euros of senior unsecured green bonds, with a five-year term. The bonds were issued with a coupon rate of 2.875%, achieving the narrowest spread in the history of euro bond issuance by a Chinese enterprise and breaking the record for the largest spread reduction for euro bonds issued by central enterprises in the same period. The bonds were listed on the Hong Kong Stock Exchange and the Luxembourg Stock Exchange.
Established in 2011, Three Gorges International is a subsidiary of China Three Gorges Corporation (Three Gorges Group). It plays a crucial role in the group's going global strategy and its building of a world-class clean energy group. Through greenfield investments, equity acquisitions and other means, Three Gorges International participates in overseas clean energy cooperation, serving and implementing the Belt and Road initiative, and it has achieved fruitful results. the company has nearly 40 overseas subsidiaries and branches, with markets covering Europe, the Americas, Asia and Africa. While expanding its business, Three Gorges International is committed to global green energy investment and development.
JunHe acted as the domestic legal advisor for the issuer in this project, and participated throughout the National Development and Reform Commission's foreign debt application phase and the bond issuance phase. JunHe assisted the Three Gorges Group in successfully issuing the bonds and our rigorous and efficient work style, along with our meticulous and dedicated service attitude, earned the recognition and trust of the company and the other intermediary institutions.
The lead partner for this project was Ms. LEI, Tianxiao, and the internal review partner was Ms. YE, Junli.
