Linklaters acted as the international legal advisor to the underwriters on the successful debut bond issuance by Contemporary Amperex Technology Co. Limited (CATL). CATL is a globally renowned developer and manufacturer of lithium-ion batteries and is one of the largest companies on China’s A-share Growth Enterprise Market by market capitalisation.
This dual-tranche issuance includes US$1bn 5-year senior fixed rate bonds with a coupon rate of 1.875% and US$500m 10-year senior fixed rate bonds with a coupon rate of 2.625%.
This successful issuance marks the largest issuance of US dollar-denominated bonds issued by Chinese private enterprises under Regulation S since 2020, as well as the largest single debut issuance of US dollar-nominated bonds issued by Chinese enterprises under Regulation S since 2017.
The transaction was led by Linklaters’ capital markets partners Michael Ng and Hanwen Yu, with support from managing associate Libin Shi.
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