Freshfields Bruckhaus Deringer has advised BNP Paribas on the issue of bonds by Qingdao City Construction Investment (Group) Limited (Qingdao City Construction).

The issue is comprised of two tranches – the US$500m bonds, due 2020 at 4.75 per cent and the US$300m bonds, due 2025 at 5.95 per cent.

Freshfields advised BNP Paribas in its capacity as the sole global coordinator for the bonds.

Qingdao City Construction is the primary investment and financing platform of the Qingdao government. It develops public infrastructure and primary land in the greater Qingdao area.

The Freshfields team advising on the transaction was led by corporate partner Calvin Lai, finance partner Andrew Heathcote and finance counsel Bing Guan.