10 March 2017, GOME Electrical Appliances Holding Limited (GOME) completed its issuance of US$400 million 5.00% overseas corporate bonds due in 3 years. King & Wood Mallesons (KWM) acted as the PRC counsel for Barclays, the underwriter in the issuance. After the issuance, the bonds will be listed on the Singapore Exchange.

The overseas issuance was affected by the international political and economic situation and other unfavorable factors. The Asian bond market was also faced with other high-rated corporate bonds issuances from South Korea, Singapore and others over the same period. Against such background, the bond issuance attracted many investors and was oversubscribed by overseas banks, institutional investors and other qualified investors, reflecting international investors’ recognition of and confidence in the Chinese market and China's economic growth.

KWM acted as the PRC counsel for Barclays, the underwriter in the project. KWM’s all-round legal services  include advising the underwriter on PRC legal issues, leading due diligence investigations of the issuer’s over 500 stores under its 10 major subsidiaries, assisting the issuer’s domestic company in filing with the NDRC, and drafting and revising legal opinions, the prospectus, the subscription agreement, the issuance announcement and other major transaction documents and related follow-up work. KWM’s efforts and services were well recognized by the issuer, the underwriter and other parties in the project. The project was led by partners Song Ruiqiu and Liu Dongya.

Song Ruiqiu commented, “We’re glad to assist Barclays in GOME's successful issuance of overseas bonds. With our experience in the capital market, solid expertise and innovative thinking, we have advised our clients on numerous representative deals, which won us high reputation. ”