Hanwha Solutions to Issue US$153 Million Green Dim Sum Bonds
Seoul – Paul Hastings LLP, a leading global law firm, announced today that the firm has advised Hanwha Solutions Corporation on its debut issuance of CNY1 billion (approximately US$153 million) 3% Green Bonds with a three-year tranche, guaranteed by the Credit Guarantee and Investment Facility under the Asian Development Bank. As a member company of the South Korean conglomerate Hanwha Group, Hanwha Solutions is a total solutions company focused on chemicals, total energy solutions, and advanced materials.
The issuance of Dim Sum bonds, which are Chinese renminbi-denominated bonds issued in Hong Kong, marks Hanwha Solutions’ first overseas debt offering since its formation from the merger of Hanwha Chemical, Hanwha Q CELLS, and Hanwha Advanced Materials in 2020. The proceeds will be used for its eco-friendly business to drive the company’s Environmental, Social, Governance efforts.
Paul Hastings’ leading Korea practice has advised on several landmark capital markets transactions in recent years, including Kakao Corp.’s US$1 billion GDR offering, Lotte Shopping’s US$285 million exchangeable bonds, and ING Life Insurance Korea’s US$977 million IPO. With a robust relationship with Hanwha Group and its subsidiaries, our Seoul team also advised on Hanwha Systems’ US$345 million Korea IPO in 2019 and Hanwha Q Cells’ US$1.2 billion sale and merger with Hanwha SolarOne in 2015.
At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.