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Herbert Smith Freehills advises China's State Grid on US$5 billion bond

02 May 2017
Deals and cases

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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.

全球领先的国际律师事务所史密夫斐尔律师事务所就中国国家电网公司最新总计77亿美元的中期分期债券发行计划提供法律服务。

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.

 

史密夫斐尔就中国国电网公司50亿美元行提供法律服

全球领先的国际律师事务所史密夫斐尔律师事务所就中国国家电网公司最新总计77亿美元的中期分期债券发行计划提供法律服务。

该计划下首次发行于上周筹得50亿美元,是本年度最大型的G3债券发行,也是中国国有企业历来最大型的债券发行。

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。

邹兆麟律师评价称:“国家电网公司自2013年首次进入海外债券市场,至今已有五年,史密夫斐尔就其迄今所有海外债券发行提供法律服务,共计协助国家电网公司筹得逾126亿美元资金。史密夫斐尔非常荣幸能在国家电网公司拓展海外布局的过程中鼎力提供协助。”

王重律师称:“在当前不稳定的市场态势下,国家电网公司的成功发行是对其良好国际声誉的有力印证,同时也表明,优质发行人发行债券仍有强劲的投资者需求。”

以收入规模衡量,国家电网公司是2015年中国最大的公司,也是全球最大的公用事业公司。国家电网公司为26个省市的11亿人供电,占全中国人口的88%。该公司还在澳大利亚、菲律宾、巴西和葡萄牙运营海外资产。

 

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. www.herbertsmithfreehills.com   

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.

于史密夫斐尔

史密夫斐尔律师事务所在亚太地区、欧洲、中东、非洲和北美洲共设有26个办公室/代表处,致力于在全新的全球商业环境中为客户提供优质而全面的法律服务。结合本所在全球能源、自然资源、基础设施、科技和金融服务等多个行业领域卓越的专业能力,我们为全球各大主要客户提供市场上首屈一指的争议解决、项目及交易相关法律服务。

史密夫斐尔律师事务所在亚太地区的曼谷、北京、香港、雅加达*、首尔、上海、新加坡和东京均设有办公室,连同澳大利亚的布里斯本、墨尔本、柏斯和悉尼分所,共有约1340名律师为客户处理复杂的企业、争议和金融法律问题。本所将于2017年5月在马来西亚吉隆坡开设新的办公室。这将是本所在亚洲区的第九家、在亚太地区的第十三家以及在全球的第二十七家办公室。

*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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