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Zhong Lun Advised Underwriter on Successful Panda Bonds Issuance of U.C. RUSAL, First Issuer from “Belt and Road” Countries
Zhong Lun Advised Underwriter on Successful Panda Bonds Issuance of U.C. RUSAL, First Issuer from “Belt and Road” Countries
On March 16, 2017, United Company RUSAL Plc (“RUSAL" or the “Company"), a leading global aluminium producer, has successfully completed the first tranche of the Renminbi denominated bonds (Panda bonds) issue on the Shanghai Stock Exchange with principal amount of RMB 1.0 billion. As such, RUSAL becomes the first overseas company with global operations outside of China to enter the Chinese bond market through this placement on the Shanghai Stock Exchange.
As the PRC legal counsel of the sole lead underwriter and book runner of this project, China International Capital Corporation Ltd. (CICC), Zhong Lun has provided a full range of legal services. The Zhong Lun team is led by Partner Shirley WANG from Beijing Office, with support by Associates Baihui LI and Samuel HE.
As the first “Belt and Road" country enterprise issuing Panda bonds, the success of the offering further expands the financing channels for the “Belt and Road" country enterprises, deepens the national financial cooperation along “Belt and Road".
RUSAL is one of the leaders in the global aluminium industry. In 2015, it accounted for 7% of global aluminium production and 7% of global alumina output. RUSAL employs around 61,000 persons in 20 countries on 5 continents. RUSAL’s products are main sold in Europe, North America, South-East Asia, Japan, China and Korea.