Grandall Advised Kunming Urban Investment in its Issue of USD Bonds
Kunming Urban Construction Investment and Development Co., Ltd. (the “Company”) has recently issued senior unsecured and fixed interest bonds of USD 300 million with a term of three years. The bonds are listed at the Stock Exchange of Hong Kong Ltd.
The Company is a state-owned enterprise established in May 1997 with the approval from the People’s Government of Kunming. Its business scope covers investment, development and consultancy for municipal utilities and related industries, provision of services for investments in local urban construction projects, development, manufacturing and operation of construction machinery and building materials, development and management of real estate, acceptance of entrustment by the government to carry out land reserve development, freight forwarding, warehousing services, and domestic trade, etc. The successful issue of overseas bonds reflects the wide influence and recognition boasted by the Company as an urban infrastructure construction and regional city comprehensive operator, and strengthens the confidence of global investor in the promising future of Kunming.
Grandall has been retained as the issuer’s domestic counsel with Mr. TANG Yunwei, Ms. YANG Xianghong, Ms. JIANG Jingjing, from Grandall Kunming Office, and Mr. LIU Xiangming, Mr. ZHAO Chen and Mr. LIU Yongyu, from Grandall Nanjing Office, providing professional legal service in the case.