In April 2019, Kunming Iron and Steel Holding Co., Ltd. (the "Kunming Iron and Steel Holding") successfully issued US dollar bonds worth 200 million US dollars at a coupon rate of 7.375% and with a maturity term of three years. This issuance followed the company's successful issuance of overseas US dollar bonds in 2018.
Kunming Iron and Steel Holding established in 1939 whose previous name is China Electric Power Steel Plant and Yunnan Iron and Steel Plant, has gradually extended into a modern enterprise group concentrating on traditional and emerging industries instead of an iron & steel manufacturing after years of development. Its business scope includes iron and steel metallurgy, modern logistics, new materials, equipment manufacturing, energy conservation and environmental protection, cement and other building materials, coal coke chemicals, mining development, cultural tourism, real estate, health preservation and elderly care, e-commerce, and financial services. It is one of the top 500 Chinese enterprises.
As the Chinese legal counsel for the issuance, the DeHeng team, led by Partner Hou Zhiwei from the Beijing office, with primary support from Partner Zhang Yan, attorney Hu Xueyuan, Yang Jingjing, Xianyu Jiashan, Sun Yuehao and Wang Zhi, provided professional, comprehensive and premium legal services for the client.