Contemporary Ruiding Development Issues US$500 Million Guaranteed Bonds

Hong Kong – Paul Hastings, a leading global law firm, announced today that it represented Contemporary Ruiding Development Limited in its issuance of US$500 million 1.5% bonds due 2026, unconditionally and irrevocably guaranteed by Contemporary Amperex Technology Co., Limited (“CATL”). The firm advised both the issuer and the guarantor on the offering.

The Hongkong and Shanghai Banking Corporation Limited, Merrill Lynch (Asia Pacific) Limited and ICBC International Securities Limited acted as the joint global coordinators, joint bookrunners and joint lead managers. Barclays Bank PLC, BNP Paribas, China CITIC Bank International Limited, China Minsheng Banking Corp., Ltd., Hong Kong Branch, Citigroup Global Markets Limited and CMB International Capital Limited acted as the joint bookrunners and joint lead managers.

Contemporary Ruiding Development is an indirect wholly-owned subsidiary of CATL, a leading manufacturer of lithium-ion battery based in the Fujian Province in China. Proceeds from the issuance are intended to be used for general corporate purposes, including refinancing offshore indebtedness, financing the purchase of raw materials and replenishing working capital.

Paul Hastings has previously advised on Contemporary Ruiding Development’s debut bond offering, involving US$1 billion of 1.875% bonds due 2025 and US$500 million of 2.625% bonds due 2030.

The Paul Hastings team was led by Raymond Li, global partner and chair of Greater China and corporate partner James Ma, with support from associate Jeff Lee, trainee solicitors Kristy Wong and Alex Chan, and paralegal Kitty Lee.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.