News

DeHeng Advised Founder Hong Kong Financial Holdings 

on First Issuance of Foreign Bonds

2018-11-23


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On November 16, 2018, Founder Securities (Hong Kong) Financial Holdings (hereinafter referred to as "Founder Hong Kong Financial"), a wholly-owned subsidiary of Founder Securities Co., Ltd. ("Founder Securities"), issued US$ 200 million, two-year bonds at a rate of 6.9% (hereinafter referred to as "this issuance") through its wholly-owned subsidiary First FZ Bond Limited, guaranteed by Founder Hong Kong Financial and with the benefit of a keepwell deed provided by Founder Securities. Founder Securities (Hong Kong) Capital Company Limited, BOC International, Guotai Junan International, Zhongtai International and Industrial Bank Co., Ltd. Hong Kong Branch acted as the Joint Global Coordinators of this issuance.


Founder Securities was reorganized into a company limited by shares in 2010 and listed on the Shanghai Stock Exchange in 2011, which is one of the first comprehensive securities companies in China and one of the first members of the Shanghai Stock Exchange and the Shenzhen Stock Exchange. As a large comprehensive financial broker listed on the "A share" market, Founder Securities has strong capital and wide business scope. By the end of 2017, the company had total assets of 148.336 billion yuan and net assets of 37.429 billion yuan. To adapt to the development trend of China's capital market and achieve global development, Founder Securities established and self-financed a wholly-owned subsidiary, i.e. Founder Hong Kong Financial, in Hong Kong upon approval of China Securities Regulatory Commission. This is the first foreign bond issued by Founder Securities.


As the PRC counsel to the underwriters of this issuance, DeHeng set up a project team headed by Hou Zhiwei, partner of Deheng's office in Beijing, and included attorneys Zhang Yan, Zuo Ti, Hu Xueyuan, Yang Jingjing, Xianyu Jiashan and Wang Zhi. The project team cooperated closely with the issuer, underwriters, and overseas lawyers in providing professional, comprehensive and high-quality legal services for this issuance.

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