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Contemporary Ruiding Development’s US$1.5 Billion Debut Bond Offering

September 15, 2020

Hong Kong – Paul Hastings, a leading global law firm, announced today that it represented Contemporary Ruiding Development Limited in connection with its debut offshore bond issuance. The offering involved US$1 billion of 1.875% guaranteed bonds due 2025 and US$500 million of 2.625% guaranteed bonds due 2030, guaranteed by Contemporary Amperex Technology Co., Limited (“CATL”). The firm advised both the issuer and the guarantor, as to Hong Kong Law and English Law on the transaction.

The Hongkong and Shanghai Banking Corporation Limited, Merrill Lynch (Asia Pacific) Limited, ICBC International Securities Limited and CMB International Capital Limited acted as the joint global coordinators, joint bookrunners and joint lead managers. Barclays Bank PLC, Bank of China Limited, CCB International Capital Limited, China CITIC Bank International Limited, China Everbright Bank Co., Ltd., Hong Kong Branch, China Minsheng Bank Corp., Ltd., Hong Kong Branch, China PA Securities (Hong Kong) Company Limited, Citigroup Global Markets Limited, Shanghai Pudong Development Bank Co., Ltd., Hong Kong Branch and Standard Chartered Bank acted as the joint bookrunners and joint lead managers.

Contemporary Ruiding Development is an indirect wholly-owned subsidiary of CATL, a leading manufacturer of lithium-ion battery based in the Fujian Province in China. CATL is the largest electric vehicles battery brand in China based on market share in 2019. The proceeds from this offering will be used for financing its offshore project construction and working capital.

Paul Hastings has advised on numerous debt issuance transactions recently, including Yuzhou Group’s

, Shanghai Electric Group’s and , and Sino-Ocean Group’s .

The Paul Hasting team was led by

, global partner and chair of Greater China and corporate partner , with support from of counsel , associates  and , legal manager , and paralegal Kitty Lee.

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.

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