Hong Kong listed company, China Evergrande Group (stock code: 3333), advised by King & Wood Mallesons, successfully issued 3-year and 5-year USD-denominated bonds, raising a total of US$1.5 billion.

China Evergrande Group’s overseas bonds issuance was a benchmark project in the international bond market, marking the largest US dollar bond issuance ever in the real estate high-yield bond market in Asia. The issuance has received nearly five times over subscription from numerous internationally renowned investment institutions such as Blackrock, Fidelity, Wellington, Allianz and Nomura, reflecting the international market’s high recognition of China Evergrande Group’s creditworthiness and excellent performance. China Evergrande Group has accumulatively issued over US$10 billion of bonds overseas since 2006.

As the underwriter’s PRC legal counsel, the KWM team participated in all aspects of the project, making a few innovative breakthroughs in the transaction structure and the terms of issuance through several rounds of negotiations, and ultimately bringing the bond issuance to a successful close. The issuer, the underwriters and other parties in the transaction all spoke highly of KWM.

China Evergrande Group is a world top 500 enterprise integrating real estate, finance, health, tourism and sports.

Wang Lixin commented, “China Evergrande Group is one of KWM’s long-term key clients, and we’re very pleased to assist it in the completion of another milestone project. Our team continues to leverage our leading legal services in a comprehensive range of practice areas to help clients achieve their commercial goals as Chinese companies continue to strategically expand in international capital markets.”