Zhong Lun represented China Water Affairs Group Limited on its offering of US$150 million 5.875% senior notes due 2030, which was successfully priced on October 15, 2025. The Notes are issued as “Blue Bonds” under the Company’s Green & Blue Finance Framework. The Notes are issued under Regulation S. The net proceeds will be used for repayment of certain offshore indebtedness and the Company plans to use proceeds to finance or refinance Eligible Green Projects, particularly water supply projects, in accordance with the Green & Blue Finance Framework.

China Water Affairs Group Limited is a leading professional, international, market-oriented and cross-regional water services operator in China. It mainly engages in urban water supply, direct drinking water, sewage treatment and drainage and other related value-added services in mainland China.

This project is led by partner Renee Xiong and supported by Alan Wong and Jiyan Yan.