January 29, 2013, Citic Heavy Industries Co., Ltd (Citic HIC)(601608) successfully issued CNY 1.8 billion 2012 first tranche of unsecured corporate bonds, comprising CNY 1.2 billion 5-year 4.85% bonds and CNY 600 million 7-year 5.2% bonds.

Citic HIC is a giant state-owned enterprise, one of the largest heavy machinery manufacturers and the largest mining machinery manufacturer in China. It was  one of the first 50 Chinese enterprises accredited for international management and recognized as innovative enterprise in 2008. The company has been  listed in Top 500 Chinese manufacturers and ranked the first in the  Top 20 Chinese construction material machinery manufacturers list since 2005.

Jingtian & Gongcheng acted as the issuer's lawyer.