Leading international law firm Clifford Chance has advised Jingneng Investment Group Co., Limited on the issue of US$300,000,000 2.75% credit enhanced bonds due 2017 with the benefit of a keepwell deed provided by Beijing Energy Investment Holding Co., Ltd and an irrevocable standby letter of credit provided by Agricultural Bank of China Limited, Beijing Branch.
Jingneng Investment Group is an indirect wholly owned subsidiary of Beijing Energy Investment Holding Co., Ltd (BEIH), which is wholly owned by the Municipal Government of Beijing. As the investing and financing entity for electric power constructions in Beijing, BEIH manages investment funds of electric power and energy conservation for the Beijing Municipal Government.
The Clifford Chance team comprised Capital Markets partners Connie Heng and Tim Wang, counsel Angela Chan, senior associate Naiting Cao and associates Fan Zhibin and Torrance Shi.
