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Zhong Lun Advises Ningbo Power Development Corporation on Issuance of Corporate Bonds
Zhong Lun Advises Ningbo Power Development Corporation on Issuance of Corporate Bonds
On April 27, 2012, Ningbo Power Development Corporation, upon the approval of the National Development and Reform Commission, successfully issued corporate bonds, with an amount of RMB 1 billion, a term of eight years and a nominal interest rate of 6.93%.
As the legal adviser of the issuer, Zhong Lun Law Firm, through a team led by partner Ge Yongbin, and including attorneys Fu Qiang and Zhang Hao, provided comprehensive legal services for this issuance.
Ping An Securities Co., Ltd. served as the lead underwriter, Minsheng Securities Co., Ltd. as the co-lead underwriter, Huaan Securities Co., Ltd. and Cinda Securities Co., Ltd. as the distributors, and China Cheng Xin International Credit Rating Co., Ltd. as the credit rating agency.
The issuer is a state-owned enterprise directly under the Ningbo Municipal People’s Government, responsible for the supply of electricity and heat for enterprises and institutions in the downtown and development zones of Ningbo. With the electrical energy as its leading industry, the issuer mainly invests in energy and power projects, thermal power projects and the electricity-related projects.
