Herbert Smith Freehills has advised State Grid Corp. of China on a $3.5 billion bond issue.

The state-run utility company broke the sale into three tranches: $1.25 billion in five-year notes, $1.6 billion in 10-year notes and $650 million in 30-year notes.

Hong Kong partner Kevin Roy and Beijing partner Tom Chau acted for State Grid on the deal. King & Wood Mallesons served as Chinese counsel, while Walkers advised on British Virgin Islands law.

Linklaters Hong Kong partners William Liu and Pam Shores are representing joint global coordinators HSBC Goldman Sachs (Asia), Morgan Stanley, BOC International and ICBC International. Commerce & Finance Law Offices advised the banks on Chinese law.

Herbert Smith Freehills, King & Wood Mallesons and Linklaters had the same roles on a $2 billion note offering by State Grid last year, the company’s first international debt issue.

Email: tbrennan@alm.com.