Translator：Wang Yichun

On October 12, Shanghai Landing Law Offices successfully assisted CCCC Third Harbor Engineering Co., Ltd. in issuing the first green renewable corporate bond in the infrastructure construction industry. The bond, known as the 2022 Publicly Issued Green Renewable Corporate Bond (First Tranche) or “G三航Y1”, has an issuance scale of 1 billion yuan, a bond term of 3+N years, and a coupon rate of 2.97%. This sets a new low for the interest rate of perpetual bonds without group guarantees in the infrastructure sector of China Communications Construction Group Corporation Limited (CCCC Ltd).

As highlighted in the country's "Fourteenth Five-Year" Plan and the Outline of the 2035 Long-Term Goals, green finance is a crucial component of future economic development. Green bonds, an integral part of the green financial system, play an increasingly vital role in fostering the green transformation of economic development and mitigating the tension between economic growth and environmental protection. The successful issuance of this green bond not only enhances the company's commitment to green investment and environmental responsibility but also encourages active participation in environmental conservation. This reflects the corporate philosophy of the CCCC Third Harbor Engineering Co., Ltd. to shoulder social responsibility and foster green development. Moreover, it enables the CCCC Third Harbor Engineering Co., Ltd.to leverage the bond market's financing cost advantage to secure low-cost project construction funds, thereby achieving a win-win situation for green development and investment project returns.

As the special legal advisor for the first green renewable corporate bond in the infrastructure construction industry, Landing Law Offices provided professional and efficient legal services, contributing to the successful issuance and gaining valuable experience in the field of green financial innovation. Committed to the principle of "Specialized Services", Landing continues to dedicate itself to delivering professional services to its clients. The lawyers involved in this issuance were Liu Zhaofu and Kong Lingsen.