Clifford Chance has advised Guotai Junan Securities Co., Ltd.
Named after the city flower of Shanghai (magnolia), Yulan Bonds are a new asset class of Chinese corporate bonds denominated in foreign currencies. The structure launched in December 2020 and is designed to enable Chinese issuers to gain direct exposure to a wider foreign investor base, providing access to a greater liquidity pool and delivering improved cost efficiencies.
Guotai Junan Securities Co., Ltd. is an integrated financial services provider and investment bank.
Guotai Junan Securities Co., Ltd. issued US$300 million 1.60% Yulan bonds due 2024 under Guotai Junan Holdings Limited’s US$3 billion Medium Term Note Programme, guaranteed by Guotai Junan Securities Co., Ltd. The bond issuance is the second transaction under the Yulan bond structure and the first Yulan bond transaction from a non-bank financial institution in the PRC.
Partner David Tsai (Picture) was supported by senior associate Nicholas Mai, legal assistant Michael Cheng and paralegal Donald Chen.
Law Firms: Clifford Chance;
Clients: Guotai Junan Securities Co., Ltd.;