Recently, a Dentons team led by Beijing office partner Chen Yang, supported by associates Li Jianxian and Bi Lan, acted as the Chinese legal advisor for the underwriters on the issue by Xinjiang Transportation Construction Investment Holding Co., Ltd. ("Xinjiang Transportation Investment") of US$150 million senior unsecured bonds in Hong Kong. The issuance of this bond was successfully completed on April 24, 2018.

The team provided comprehensive legal services for this project, including demonstrating bond issuance structure, obtaining regulatory approvals, conducting due diligence on the company's domestic entity and its subsidiaries, reviewing the bond issuance prospectus and trading documents, and issuing an attorney's legal opinion.

Xinjiang Transportation Investment is a wholly state-owned enterprise managed directly by the State-owned Assets Supervision and Administration Commission of Xinjiang Uygur Autonomous Region. It is both a transportation infrastructure financing and construction platform, and an asset operation and maintenance management platform for the transportation sector at the autonomous region. The bond is the first of its kind issued by a provincial organization in Xinjiang.

The residual duration of this bond was 363 days. Orient Securities (Hong Kong) Limited, Mizuho Securities, and Silk Road International Bank acted as the joint global coordinators, joint lead managers and joint book runners. Herbert Smith Freehills LLP acted as the legal advisor for the foreign underwriters. Linklaters LLP advised the overseas issuer, and Qiankun Law Firm represented the domestic issuer.