DEALS
Zhong Lun Advises Ningbo Power Development Co., Ltd. on Issuance of RMB600 Million Short-Term Bond
Zhong Lun Advises Ningbo Power Development Co., Ltd. on Issuance of RMB600 Million Short-Term Bond
On May 6, 2011, Ningbo Power Development Co., Ltd. (“Ningbo Power") successfully issued a short-term bond (“Bond") in the National Inter-bank Bond Market. The Bond is a 366-day bond with the issuance amount of RMB600,000,000, and interest rate at 5.15% p.a..
Zhong Lun was engaged to act as legal counsel of Ningbo Power. Professionals involved include Partner Ge Yongbin and Fu Qiang.
Bank of Shanghai was the underwriter and bookrunner of the Bond and China Chengxin International Credit Rating Co., Ltd. was the credit rating institution.
Ningbo Power, whose controlling shareholder is State-owned Assets Supervision and Administration Committee of Ningbo Municipal Government, is a state-owned enterprise governed directly by Ningbo Municipal Government. Ningbo Power engages in generating electricity and supplying heat for a large number of the enterprises and government institutions as well as development areas. Ningbo Power, with power energy as the leading industry, is now investing in major energy and power projects, holding power and heating plants and extending the industry chain.
