Dentons advises Ping An International Financial Leasing Co., Ltd. on non-public issuance of green corporate bonds

Recently, Ping An International Financial Leasing Co., Ltd. ("Ping An Leasing") successfully issued RMB508 million three year green corporate bonds (2018 series 1) on the Shanghai Stock Exchange. It was the first series of non-publicly issued green corporate bonds for Ping An Leasing. The interest rate is higher than the market rates.

Ping An Securities and China International Capital Co., Ltd. served as the joint lead managers, and Beijing Zhongcai Green Finance Consulting Co., Ltd. conducted a green evaluation of the bonds. The funds raised in this issuance will be invested in green industry projects, complying with the state's policy requirements in supporting the development of green industries and building a green financial system. The Shanghai Stock Exchange has opened up a "green channel" for the approval of green bonds. It only took 11 working days for this issuance from being formally accepted to receiving a no-objection letter. The issuance actively responded to the state and regulatory agencies' focused support for green projects, and also secured a stable source of funding for relevant green projects of Ping An Leasing.

The company was advised by a Dentons Shanghai team, led by senior partner Li Yingying, with assistance from associate Chen Junru and paralegal Wang Ruixin. The team worked closely with other participating agencies, and provided a comprehensive and high-quality legal service for the client, facilitating the rapid bond review and successful issuance.