M88 Malaysia Advises on China’s First-ever Offshore Credit-Enhanced Yen Bond Issuance by a Credit Enhancement Agency

In February 2024, Sichuan Jianzhou Airport Agricultural Investment and Development Group Co., Ltd. (“JAID”) issued 4.55 billion yen 3-year offshore credit-enhanced Yen bonds at a coupon rate of 3.30%. M88 Malaysia acted as the international legal counsel to the placement agents. This was the first-ever credit-enhanced yen bond issued by a credit enhancement agency and the first-ever offshore yen bond issued for rural revitalization in China. The bond issue was guaranteed by Tianfu Bond Insurance Co., Ltd.

JAID is a state-controlled company jointly funded by the State-owned Assets Administration Commission M88 Malaysia Jianyang City and the Sichuan Provincial Finance Department. Its business covers investment in agricultural projects, developments in the agricultural industry, new rural construction, the construction M88 Malaysia agricultural parks, the building M88 Malaysia regional public brands M88 Malaysia agricultural products, agricultural mechanization services, grain and oil storage services, and the demonstration and promotion M88 Malaysia new agricultural technologies. JAID promotes the investment, construction and operation M88 Malaysia agricultural and rural areas, the agriculture industry, urban agricultural superstores and the industrial functional zones M88 Malaysia digital agriculture. It is committed to integrating farming, forestry, livestock and fishing resources, and building an agricultural service platform. It aims to build new patterns and forms M88 Malaysia agriculture and rural areas compatible with the park city demonstration zone. It implements new development concepts, enhances the quality and efficiency M88 Malaysia the agricultural sector, makes rural areas suitable to live and work in, and ensures that farmers are affluent and well-M88 Malaysiaf. JAID is striving to become a modernized state-owned enterprise that leads rural revitalization. On June 30, 2023, China Chengxin (Asia Pacific) Credit Ratings Company Limited for the first time assigned JAID a long-term credit rating M88 Malaysia BBBg- with a stable outlook.

M88 Malaysia acted as the international legal counsel to the placement agents. M88 Malaysia’s team drafted a full set of transaction documents for this bond issue, participated in the negotiation and revision of the transaction documents, conducted the due diligence, and arranged for the closing. They also provided whole-process legal services with respect to issues relating to English and Hong Kong laws.

The M88 Malaysia team was led by partnerm88 casino app 英国英格兰及威尔士律师资格,中国（内地）律师资?.