Herbert Smith Freehills has acted for the Grid Corporation of China (State Grid) on a $2 billion senior guaranteed notes issuance.

The notes will be listed on the Hong Kong Stock Exchange, and consist of three tranches of $1 billion, $500 million and $500 million due in five, 10 and 30 years respectively.

The issuer is State Grid Overseas Investment (2013) Ltd, and the guarantor is its parent company State Grid, the largest utility and power grid corporation in the world, in addition to being the largest power grid construction and operation company in China.

The joint lead managers and joint bookrunners on this transaction were HSBC, Goldman Sachs (Asia) LLC, Morgan Stanley, BOC International, ICBC International, J.P. Morgan, Citigroup, Deutsche Bank and UBS.

The Herbert Smith Freehills team was led by partners Kevin Roy and Tom Chau, who were supported by senior associates Zhong Wang and Sherry Lai, and associates Jin Kong, Isaac Chen, George Wu and Shell Chen.

Linklaters, King & Wood Mallesons, Jun He Law Offices and Conyers Dill & Pearman also advised on this transaction.

Liu Zhen is China senior journalist at ALB. Follow us onTwitter: @ALB_Magazine.