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Groundbreaking Chinese Listing For Channel Islands' Exchange

by Jason Gorringe, Lowtax.net, London
06 October, 2015

China Cinda Finance (2014) II Limited has been listed on the Channel Islands Securities Exchange, the first such listing with an ultimate parent company domiciled in China.

China Cinda Asset Management Co. Ltd, the issuer's ultimate parent, was incorporated in Beijing, China, in 1999 and listed on the Hong Kong Stock Exchange (HKEx) in 2013.

The CISE listing comprises three series of notes with an aggregate principal amount of USD500m, which have been issued by China Cinda Finance (2014) II Limited. The notes were sold to investors such as life insurance companies, securities firms, and asset managers.

Offshore law firm Mourant Ozannes acted on behalf of China Cinda Finance (2014) II Limited.

Paul Christopher, Managing Partner of Mourant Ozannes in Hong Kong, said: "Mourant Ozannes is delighted to have played a part in bringing this unique listing to the Channel Islands. The client required a listing to open up its scope of potential investors and the CISE was chosen due to the fact that it offers competitiveness on cost and flexibility of approach within a well regulated environment. The teams we have worked with on this transaction have all been very happy with how it progressed and we are already speaking to other parties in the region who are looking to follow suit."

Fiona Le Poidevin, Chief Executive Officer of the CISE, said: "I am delighted to welcome this ground-breaking listing to the CISE. We are an international exchange and keen to welcome business from all over the globe. Given the Channel Islands' progress in Asia over recent years this is a significant milestone for us at the Exchange, where we are always open to new ideas and structures, including quality listings originating from markets such as this."

"The China Cinda group of companies represent a very large and well respected financial institution so it is extremely pleasing that they have chosen to list these debt instruments on the CISE. It is always good to receive positive feedback from clients and we are excited about the potential pipeline of work to come from other parties in the Asian marketplace in the future."

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