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Guantao Law Firm advises Rizhao Transportation Energy Development Group issue 2023 Phase I Private Placement Notes

Guantao Law Firm has recently helped Rizhao Transportation Energy Development Group Co., Ltd. (“Rizhao Transportation Energy Development Group”) issue its 2023 Phase I Private Placement Notes. The size of this issuance is CNY 500 million with a term of 2+1 year. The corporate credit rating of the issuer, Rizhao Transportation Energy Development Group, is AA+. The issuance is of great significance in terms of expanding the enterprise’s financing channels, reducing financing costs, and optimizing the existing assets of state-owned enterprises. 

Rizhao Transportation Energy Development Group is a big state-owned sole proprietor in Rizhao city, Shandong province. The group aims to integrate the development of transportation and energy, becoming a comprehensive and core group supported by four industries: transportation, energy, smart manufacture, and health. The group has registered capital of CNY 2 billion and industry qualifications such as Grade 1 General Contracting Qualification for Road Engineering Construction. It is the general agency of asphalt in Shandong of the Fortune 500 company, South KOREA’S SK Group, and China’s second largest asphalt importer. 

Guantao Law Firm worked as the legal adviser for this project. Attorney TIAN Bo, partner of the firm, attorney ZHAO Dong, and attorney LIN Jingyi formed a project team and provided effective and high-quality legal service.