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News from Mayer Brown JSM: Mayer Brown JSM advises Tsinlien Group on issue of CNY1.3 billion Renminbi-denominated bonds.

11 November 2011

Mayer Brown JSM is pleased to announce that it has advised Tsinlien Group Company Limited (Tsinlien) on the issue of CNY1.3 billion 5.75% guaranteed Renminbi-denominated bonds due 2014.

In a deal arranged by DBS Bank Ltd., CITIC Bank International Limited, Deutsche Bank AG, Goldman Sachs International, J.P. Morgan Securities (Asia Pacific) Limited, Standard Chartered Bank (Hong Kong) Limited, UBS AG, Hong Kong Branch and Wing Lung Bank Limited, the bonds were issued by a wholly-owned offshore subsidiary of Tsinlien, with Tsinlien providing a guarantee. The transaction was completed on 10 November 2011, and the bonds are listed on the Singapore Exchange Securities Trading Limited.

Tsinlien is an investment holding company covering a wide range of industry sectors, and operates in Hong Kong as a financial and investment arm of the Tianjin municipal government. Tsinlien is the controlling shareholder of Tianjin Development Holdings Limited and a company wholly-controlled by the Tianjin municipal government. The proceeds of the issue will be used by Tsinlien for general corporate purposes including potential acquisitions.

The Mayer Brown JSM team was led by corporate finance partners Ben Sandstad and Jeckle Chiu.

"We are delighted to have been involved with this transaction and assist Tsinlien with its financing requirements," said Jeckle Chiu, partner of Mayer Brown JSM in Hong Kong.

"It was especially pleasing to have completed this deal amid the challenging wider market environment. The issuance is further evidence that despite the volatility, demand for dim sum bonds remains resilient," added Ben Sandstad, partner of Mayer Brown JSM in Hong Kong.

Mayer Brown JSM previously advised Tsinlien on the issue of RMB1,638 million US dollar-settled 1.25% guaranteed exchangeable bonds due 2016. The firm has also advised on various other dim sum bond transactions, including the issues by Beijing Enterprises Water Group Limited (BEWGL) of CNY1 billion 3.75% bonds due 2014 and CNY450 million 5.00% bonds due 2016 in June 2011 and their tap-issue of CNY450 million 3.75% bonds due 2014 and CNY50 million 5.00% bonds due 2016 in October 2011.

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    Jeckle Chiu
    T +852 2843 2245

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