Rodney has led a broad variety of ECM IPO and DCM listed offshore bond deals, and advised on a number of cross M&A transactions. In particular, Rodney and his team has closed more than 10 DCM deals in the past year, details as discussed below:
1. Acted for the joint lead managers of Renshou Urban Investment Group Co., Ltd. in its US$55 million 7.5% guaranteed bonds due 2027 guaranteed by Sichuan Development Financing Guarantee Co., Ltd. and listed on Chongwa (Macao) Financial Asset Exchange Co., Ltd. (“MOX”) in September 2024 (MOX Bond Code: MOXTB24227).
2. Acted for Jiangyou Hongfei Investment (Group) Co., Ltd. (“Jiangyou”) as its international counsel in its successful issuance of US$ 62,000,000 7.0% guaranteed Bonds due 2027 (the “Bonds). The Bonds were listed on Chongwa (Macao) Financial Asset Exchange Co., Limited (“MOX”) on 3 June 2024 (MOX Bond Code: MOXTB24119).
Jiangyou is a state-owned enterprise 67% owned by Jiangyou Hongyuan Hechuang Industrial Development Group Co., Ltd. and 33% owned by Mianyang Miantai Industrial Co., Ltd. Jiangyou is an asset operating entity in Jiangyou City and engages in the businesses of gas supply, water supply and public transportation. It also participates in the investment and construction of municipal infrastructure, road pipeline networks, resettlement housing and other projects.
3. Acted for (i) the placing agents and the trustee in the successful issuance of CNY95 million 8.0% bonds due 2026; (ii) the joint lead managers and the trustee in the successful MOX listing and issuance of CNY400,000,000 7.5% Bonds due 2027. The Bonds were listed on Chongwa (Macao) Financial Asset Exchange Co., Limited (“MOX”) on 11 March 2024 (MOX Bond Code: MOXTB24043); and (iii) the placing agents in the successful issuance of CNY256 million 8.6% bonds due 2026, by Weifang Water Investment Group Co., Ltd (“Weifang”).
Weifang is a state-owned enterprise 90% owned by the State-owned Assets Supervision and Administration Commission of Weifang City and 10% owned by Shandong Caixin Asset Operation Co., Ltd. The Issuer is a major water supply, investment and construction entity in Weifang City. The main businesses of the Issuer and its subsidiaries include engineering construction and housing sales, water sales, financing and factoring, trade and others.
4. Acted for the placing agents in the successful issuance of CNY107.5 million 8.0% bonds due 2025 by Liaocheng Guotai Dongchang Urban Construction & Development Group Co., Ltd. (“Liaocheng”).
Liaocheng is a state-owned enterprise wholly-owned by the Liaocheng Dongchangfu Finance Bureau. The Issuer is major land development and urban construction entity and a state-owned asset operator supported by the Liaocheng Dongchangfu District People’s Government. The main business of the Issuer and its subsidiaries is to undertake the investment, financing, implementation, and operation of affordable housing projects, with a focus on the demolition and resettlement of such projects.
5. Acted for the placing agents in the successful issuance of CNY310 million 8.0% bonds due 2024 by Weihai Nanhai Investment and Development Co., Ltd. (“Weihai”).
Weihai is a state-owned enterprise wholly-owned by the Weihai Nanhai New District Management Committee. The Issuer is one of the crucial state-owned investment and operating entities in the Weihai Nanhai New District, principally engaged in the businesses of agent construction, sales of products and water supply.
6. Acted for the placing agents in the successful issuance of CNY497 million 7.9% bonds due 2026 by Sichuan Naxing Industrial Group Co., Ltd. (“Sichuan Naxing”)
Sichuan Naxing is a state-owned enterprise 90% owned by the State-owned Assets Supervision and Administration Commission of the People’s Government of Luzhou and 10% owned by the Sichuan Provincial Department of Finance. The Issuer is principally engaged in infrastructure construction agent, property sales, asset leasing and commodity sales businesses in Luzhou City.
