King & Wood Mallesons has advised China General Nuclear Power Corporation (CGN) as its international counsel and PRC counsel on the offering of US$500,000,000 4.00 per cent. bonds due 2025, issued by China Clean Energy Development Limited, a wholly-owned subsidiary of CGN and guaranteed by CGNPC International Limited. The bonds are also supported by credit enhancement by CGN through a keepwell and equity interest purchase undertaking deed and a standby facility agreement.

CGN is one of the only three enterprises authorised by the PRC government to have a controlling interest in nuclear power projects in the PRC and is the PRC’s only nuclear power-focused large-scale clean energy corporation that is directly supervised by the State-owned Assets Supervision and Administration Commission of the State Council of the PRC. CGN is principally engaged in the generation and sale of power, construction, operation and management of nuclear and renewable
power plants and projects.
 
The King & Wood Mallesons international team was led by Hong Kong-based partner Hao Zhou, who has recently been named to ALB Asia’s inaugural “40 under 40” 2015 list of Asia’s brightest young legal minds. He was supported by partner Richard Mazzochi, senior associate Michael Lu and associates Lu Tan and Anran Zhou. The King & Wood Mallesons PRC team was led by Shenzhen-based partner Yujia Pan.