Ogier advises China Communications Construction on issuance of RMB7.1 billion offshore green bonds

Ogier in Hong Kong has acted as British Virgin Islands counsel in three offshore Renminbi (RMB) green bonds issued by CCCI Treasure Limited, totalling more than RMB7.1 billion.

CCCI Treasure Limited is an offshore subsidiary of China Communications Construction. Each of the bonds is unconditionally and irrevocably guaranteed by China Communications Construction Company Limited.

The first issuance of the bonds was completed on 8 August 2024 with an issuance size of RMB2.1 billion. The second issuance was completed on 19 August 2024 with an issuance size of RMB2.8 billion. The third issuance of the bonds was completed on 24 October 2024 with an issuance size of RMB2.2 billion.

China Communications Construction is a leading global infrastructure integrated service provider, mainly engaged in transportation infrastructure investment, construction and operation, equipment manufacturing and integrated urban development. The green bonds issued are a sustainable financial instrument, which will enable the company to enhance its commitment to social responsibility and strengthen its substantial contribution in the field of environmental protection and sustainable development.

The Ogier team in Hong Kong was led by partner Cecilia Li, with support from the firm's global head of Corporate Nathan Powell, associate Randa Leung, legal manager Kingston Tang and paralegal Josie Ma.

Cecilia commented: "We were delighted to assist one of the largest Chinese central state-owned enterprises in this bonds issuance. This manifests Ogier's expertise in the steadily growing offshore green bonds market."