Conyers provided British Virgin Islands legal advice to China Huaneng Group (Hong Kong) Treasury Management Holding Limited (“Huaneng Group”) in connection with its issue of US$500 million 2.85% guaranteed Perpetual Securities and US$500 million 3.08% guaranteed Perpetual Securities, guaranteed by China Huaneng Group Co., Ltd. (the “Guarantor”).
Huaneng Group is wholly-owned by the Guarantor. It is one of the five largest state-owned electricity generation enterprises in China, administrated by the State Council. It engages in the investment, construction, operation and management of power generation assets and the production and sale of electricity. In 2012, the company was ranked 246th on the Fortune 500 list.
Partner Wynne Lau and Associate Michael Yu of Conyers’ Hong Kong office advised on the matter working alongside Herbert Smith Freehills.