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Leading global law firm Herbert Smith Freehills has advised State Grid Corporation of China on its latest medium term multi-tranche bond programme, worth US$7.7 billion in total.


The first draw down under the programme raised US$5 billion last week, the largest G3 bond this year, and the largest bond issue ever by a Chinese State-owned enterprise.

State Grid is the largest corporation in China by 2015 revenue, and the largest utility corporation in the world. It delivers power to 1.1 billion people in 26 provinces, reaching 88% of China's population. It also operates overseas assets in Australia, The Philippines, Brazil and Portugal.

In Beijing, partners Tom Chau and Zhong Wang advised State Grid, assisted by senior associate Isaac Chen. US securities advice was provided by partner Siddhartha Sivaramakrishnan, senior associate Jin Kong in Singapore and associate George Wu in Hong Kong.

"This year marks the fifth anniversary since State Grid first tapped the overseas bond market in 2013," said Tom.

"We have advised State Grid on all of its overseas bond offerings to date and that work has raised an aggregate of over US$12.6 billion. It's been a pleasure to work alongside the company as it continues to expand its international presence."

"The success of the offering in uncertain markets is a testament to State Grid's strong global reputation and indicates there is plenty of investor demand for issues backed by solid company fundamentals," said Zhong.





史密夫斐尔律师事务所北京办公室合伙人邹兆麟(Tom Chau)、王重(Zhong Wang)牵头向中国国家电网提供法律服务,北京办公室资深律师陈敏(Isaac Chen)提供协助。此外,史密夫斐尔新加坡办公室合伙人Siddhartha Sivaramakrishnan、资深律师Jin Kong和香港办公室资深律师吴卓人(George Wu)就交易涉及的美国证券事务提供法律服务。





Operating from 26 offices across Asia Pacific, EMEA and North America, Herbert Smith Freehills is at the heart of the new global business landscape providing premium quality, full-service legal advice. We provide many of the world’s most important organisations with access to market-leading dispute resolution, projects and transactional legal advice, combined with expertise in a number of global industry sectors, including energy, natural resources, infrastructure, technology and financial services.   

Herbert Smith Freehills has some 1,500 lawyers in Asia Pacific, advising clients on complex corporate, disputes and finance matters, currently from offices in Bangkok, Beijing, Hong Kong, Jakarta*, Seoul, Shanghai, Singapore and Tokyo, and in Australia, from Brisbane, Melbourne, Perth and Sydney. The firm is due to open in Kuala Lumpur in May 2017.

*In Jakarta, Herbert Smith Freehills' international counsel practise alongside our affiliate firm, Hiswara Bunjamin & Tandjung, one of Indonesia’s leading commercial and corporate law firms.




*在雅加达,史密夫斐尔律师事务所与印度尼西亚领先的商业及公司事务律师事务所之一Hiswara Bunjamin & Tandjung联营开展国际法律咨询业务。


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Sally Greig

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Hong Kong