DeHeng Advised Gree on Corporate Bonds Issuance

2019-1-04

In October 2018, Zhuhai Gree Group Co., Ltd ("Gree")  issued the first installment of its 2018 corporate bonds worth 500 million yuan, with the maturity term of 3+2 years and the coupon rate of 4.24%. Both the bond rating and the corporate credit rating are AAA, and the bonds were 2.42 times oversubscribed.

Gree is a holding company wholly owned by the Zhuhai Municipal State-owned Assets Supervision  and  Administration  Commission. Its strategic business layout is characterized as "one core and four pillars", covering manufacturing, financial investment, infrastructure investment, building installation and island tourism, etc.

As the legal counsel for the issuance, DeHeng established a team headed by lawyer Chen Jian, partner of DeHeng Zhuhai, and supported by lawyer Chen Zhenjie. The team worked closely with the issuer, underwriters and rating agencies to provide professional, comprehensive, and efficient legal services for the client.