Dentons advises on Xinjiang Transportation Investment's US$160 million bond issuance

Recently, a Dentons Beijing team led by Partner Chen Yang, supported by associates Li Jingxian and Bi Lan, acted as the Chinese legal advisor for the domestic underwriters on the issue by Xinjiang Transportation Construction Investment Holding Co., Ltd. ("Xinjiang Transportation Investment") of US$160 million 3-year senior unsecured bonds in Hong Kong on April 3. The issuance of this bond was successfully completed on April 11, 2019.

Last year, the team advised on Xinjiang Transportation Investment's issuance of US$150 short-term bonds.

As the legal counsel for the domestic underwriters, the team demonstrated the bond issuance structure, assisted in obtaining regulatory approvals, carried out legal due diligence, reviewed the bond issuance prospectus and trading documents, and issued legal opinions under Chinese law. Their quality services were highly appreciated by the client.

Xinjiang Transportation Investment is a wholly state-owned enterprise managed directly by the State-owned Assets Supervision and Administration Commission of Xinjiang Uygur Autonomous Region. It is both a transportation infrastructure financing and construction platform, and an asset operation and maintenance management platform for the transportation sector at the autonomous region.

Orient Securities (Hong Kong) Limited, Mizuho Securities, Central Wealth Securities Investment, Industrial Bank Hong Kong Branch, Haitong International Securities, CMBC Capital, Silk Road International Bank, and Canfield Securities acted as the joint global coordinators, joint lead managers and joint book runners. Herbert Smith Freehills LLP acted as the legal advisor for the foreign underwriters. Linklaters LLP advised the overseas issuer, and Qiankun Law Firm represented the domestic issuer.