Shanghai Electric Group Issues US$500 Million Guaranteed Bonds

November 25, 2019

Shanghai & Hong Kong - Paul Hastings LLP, a leading global law firm, announced today that it advised UBS AG Hong Kong Branch, Barclays Bank PLC, ICBC International Securities Limited, Guotai Junan Securities (Hong Kong) Limited, Bank of Communications Co., Ltd. Hong Kong Branch, Oversea-Chinese Banking Corporation Limited, Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch, China Construction Bank (Asia) Corporation Limited, J.P. Morgan Securities PLC and MUFG Securities Asia Limited as counsel to the joint lead managers and joint bookrunners in the issuance by Shanghai Electric Group Global Investment Limited of the US$500 million of 2.65% guaranteed bonds due 2024 guaranteed by Shanghai Electric (Group) Corporation (“Shanghai Electric”). The bonds are listed on the Singapore Exchange.

Shanghai Electric is one of the largest equipment manufacturing conglomerates in China, and manufactures thermal, nuclear and wind power equipment, power transmission and distribution equipment, elevators, air compressors, automation systems, printing machines, and machine tools.

Paul Hastings has advised on numerous debt issuance transactions recently, including Mingfa Group’s US$200 million bonds issuance, Mei Nian Investment’s US$200 million guaranteed senior notes issuance, Sino-Ocean Group’s US$500 million guaranteed notes issuance and Yuzhou Properties’ issuance of two senior notes with combined value of US$1 billion.

The Paul Hastings team was led by the co-chair of the firm’s mainland China offices, partner Jia Yan, and Hong Kong-based partner James Ma, with support from Shanghai of counsel Stancy Qian, and Hong Kong associate Jeff 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.