A Dentons Shanghai team, led by senior partner Wu Jingjing, assisted by associates Liu Chang, Wang Songyan and Gu Xiao, and paralegal Liu Gongyuan, acted as the Chinese legal counsel for the issuer Soar Wise Limited and the guarantor AVIC International Leasing Co., Ltd. (the Company), in relation to the successful pricing and issuance of the senior unsecured bonds on the Hong Kong Stock Exchange on October 30. This is another breakthrough after the Company issued US dollar bonds through direct issuance last year. On the day of pricing, the investment institutions subscribed enthusiastically, and at one point, the subscription scale exceeded US$ 1 billion. The final price guidance was set at T+175 basis points, which was 15 basis points narrower than the initial price. The bond was one of the most successful US dollar bonds issued on that day.

The issuer Soar Wise Limited was a wholly-owned subsidiary of the Company. The issuing size of the Series I bond is US$ 350 million, with a maturity of three years. Bank of China, Barclays, CICC, DBS Bank and Haitong International Securities served as the global coordinators, and Fitch, an internationally renowned rating agency, granted "A-" ratings for both the issuer and the bond. After the roadshows in Hong Kong, Singapore and London, the bond was successfully priced and issued on October 30.

The Dentons team provided a full scope legal assistance for the issuance, including conducting due diligence on the Company and its major subsidiaries, reviewing transactional documents related to the issuance, and assisting in the preparation of the documents required for the bond issuance. In particular, the team coordinated and communicated with the foreign exchange authorities in relation to the registration of domestic guarantor and oversea borrower, and provided significant support in communicating with the National Development and Reform Commission and the commerce departments for the filing of the overseas investment of the foreign issuer. Their efficient communication and close cooperation with the Company and other participating agencies has facilitated the successful issuance of the bond.

The successful issuance of the bond realized the purpose of continuously expanding corporate financing to the overseas capital markets, and provided sufficient capital for the Company to achieve its internationalization strategy. The Dentons team led by Ms. Wu will, as always, provide comprehensive, professional, high-quality and efficient legal services for all clients, ensuring that the clients can realize their strategic goals.