Fangda Partners advised CapitaLand China Trust (“CLCT”) on its offering of CNY600 million bonds in the China (Shanghai) Pilot Free Trade Zone (the “FTZ”). The bond has a three year tenor and an annual coupon of 3.80%.

This issuance marks CLCT’s first offshore bond issuance in the FTZ. It is also the first issuance by a Singapore-based issuer and the first by a Singapore real estate investment trust (“REIT”) on the FTZ offshore bond market. The issuance provides Singapore issuers and REITs access to RMB funds by tapping the offshore debt capital markets, and marks a milestone in continued development and diversification of the FTZ offshore bond market.

Fangda, acting as both the international counsel and the PRC counsel to the issuer on this landmark transaction, provided one-stop legal services to CapitaLand. Fangda was deeply involved in structuring the transaction and worked closely with CapitaLand and other professional advisors to overcome various deal execution challenges to achieve the successful completion of this innovative cross-border debt offering.

The Fangda team was led by partners Christine Chen and Annie Shen on international legal matters and Joyce Zhou on PRC legal matters. The Fangda team included counsels Siyu You and Jason Zhao, as well as associates Michelle Miu, Roselyn Li, Yuheng Hu and Pearl Deng.