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Guantao advises Rizhao Transportation Development Group on successfully issuing the 3^rd PPN of 2023

Recently, Guantao has advised Rizhao Transportation Energy Development Group Co., Ltd. ("Rizhao Transportation Development Group" or the "Company") on issuing the 3rd private placement note (PPN) of 2023 (the "Issuance").  The size of this Issuance is 500 million RMB yuan, and the Issuance period is 2 + 1 year.  The issuer, Rizhao Transportation Development Group, is rated as AA +.  The successful Issuance is of great significance for the Company to expand financing channels, reduce financing costs and revitalize stock assets of SOEs. 

Rizhao Transportation Development Group is a large wholly state-owned enterprise (SOE) in Rizhao city, Shandong Province. With the construction of a development integration pattern of transportation energy as its goal, the Company aims to become a comprehensive backbone group supported by the four industries of 'Great transportation, Great energy, Great intelligence manufacturing and Great health'.  The registered capital of the Company is 2 billion RMB yuan.  It possesses the industry qualification of Level I for general contracting for highway construction.  It is the general agent of Korea SK asphalt of Fortune Global 500 in Shandong Province and the second largest asphalt importer in the country. 

Guantao acted as the PRC legal counsel for the Company. The Guantao team, led by partner TIAN Bo and assisted by senior associates ZHAO Dong and LIN Jingyi, provided efficient and high quality legal services in the Issuance.