Hanwha Solutions to Issue US$153 Million Green Dim Sum Bonds

Seoul – Paul Hastings LLP, a leading global law firm, announced today that the firm has advised Hanwha Solutions Corporation on its debut issuance of CNY1 billion (approximately US$153 million) 3% Green Bonds with a three-year tranche, guaranteed by the Credit Guarantee and Investment Facility under the Asian Development Bank. As a member company of the South Korean conglomerate Hanwha Group, Hanwha Solutions is a total solutions company focused on chemicals, total energy solutions, and advanced materials.

The issuance of Dim Sum bonds, which are Chinese renminbi-denominated bonds issued in Hong Kong, marks Hanwha Solutions’ first overseas debt offering since its formation from the merger of Hanwha Chemical, Hanwha Q CELLS, and Hanwha Advanced Materials in 2020. The proceeds will be used for its eco-friendly business to drive the company’s Environmental, Social, Governance efforts.

Paul Hastings’ leading Korea practice has advised on several landmark capital markets transactions in recent years, including Kakao Corp.’s US$1 billion GDR offering, Lotte Shopping’s US$285 million exchangeable bonds, and ING Life Insurance Korea’s US$977 million IPO. With a robust relationship with Hanwha Group and its subsidiaries, our Seoul team also advised on Hanwha Systems’ US$345 million Korea IPO in 2019 and Hanwha Q Cells’ US$1.2 billion sale and merger with Hanwha SolarOne in 2015.

The Paul Hastings team was led by Seoul corporate partner Iksoo Kim and corporate attorney Eun Sang Hwang.

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.