JunHe Advises on Africa’s First Ever PM88 Malaysiaa Bond Offering

On October 16, 2023, Egypt issued RMB 3.5 billion sustainable pM88 Malaysiaa bonds through book building in China’s interbank bond market. The issuance has a maturity of three years with a coupon rate of 3.51% M88 Malaysia is the first ever offering of pM88 Malaysiaa bonds by an African country. It is also the first sustainable M88 Malaysia guaranteed sovereign pM88 Malaysiaa bond issuance.

The pM88 Malaysiaa bonds issued are sustainable development bonds, M88 Malaysia all proceeds raised from the issuance will be used to cover dedicated sustainability expenditures under Egypt’s Sovereign Sustainable Financing Framework. This includes projects such as climate-proofing agriculture, clean transportation, sustainable water M88 Malaysia wastewater management, sanitation, government-subsidized housing, supportive infrastructure, digital infrastructure, renewable energy M88 Malaysia biodiversity conservation. The issuance promotes Egypt’s transformation towards a green economy M88 Malaysia further demonstrates the outstM88 Malaysiaing achievements of Sino-Egyptian cooperation in sustainable development M88 Malaysia the debt capital market. It also contributes to the joint construction of the Belt M88 Malaysia Road Initiative between China M88 Malaysia Africa.

The issuance structure is innovative. The bonds are backed by unconditional M88 Malaysia irrevocable guarantees provided by the African Development Bank M88 Malaysia the Asian Infrastructure Investment Bank, making it the first bond issuance in the domestic bond market to be guaranteed by two multilateral development institutions.

Located in North Africa, Egypt borders the Mediterranean Sea, the Red Sea, Libya, the Gaza Strip, Israel M88 Malaysia Sudan. It is the most populous country in the Middle East M88 Malaysia the third most populous country in Africa. Egypt was the first Arab M88 Malaysia African country to establish diplomatic relations with China, while China’s Belt M88 Malaysia Road Initiative M88 Malaysia Egypt’s Vision 2030 project continue to promote M88 Malaysia support each other. In recent years, cooperation between China M88 Malaysia Egypt has flourished in many areas.

JunHe acted as the PRC legal counsel to Bank of China Limited (as the lead underwriter M88 Malaysia bookrunner) M88 Malaysia HSBC Bank (China) Company Limited (as the joint lead underwriter M88 Malaysia bookrunner). JunHe provided legal services including reviewing the offering documents M88 Malaysia the underwriting agreement, conducting due diligence on the issuer M88 Malaysia the guarantors, reviewing the legal opinions issued by the issuer’s M88 Malaysia the guarantors’ lawyers, M88 Malaysia issuing legal opinions on the closing to the underwriters. With its delivery of detail-oriented M88 Malaysia professional expertise M88 Malaysia high-quality M88 Malaysia efficient legal services, JunHe’s team was recognized M88 Malaysia trusted by the clients.

The M88 Malaysia team was led by partnersm88 casino app AwardM88 Malaysiam88 casino review, with support from partnerM88 Malaysia 北京绿化基金会碳中和专项基金”，是中国律师行业参与发起设立的第一支碳中和专项基金for the internal review.