Baker McKenzie advised Beijing-based China Railway Construction Corporation (CRCC) on its offering of dual-tranche notes for a combined net value of more than USD660 million.
The offering comprises USD300 million of 1.875% guaranteed notes due in 2026, and EUR300 million (USD360 million) of 0.875% guaranteed notes due in 2026. The notes were issued by the company’s indirect wholly owned subsidiary, CRCC Hean, and guaranteed by CRCC. Proceeds from the new notes will be used to repay debts and replenish working capital for overseas construction projects.
Baker McKenzie’s Beijing-based partner Wang Hang and counsel Han Bing led the team, with support from local principal of capital markets, Xavier Amadei, of Baker McKenzie Wong & Leow in Singapore, special counsel Rachel Wang in Hong Kong, and associates Phoebe Wang in Shanghai and Adriana Chiu in Hong Kong.