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DeHeng Advised Skyfame Realty on Issuing USD Notes

2019-07-10


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Skyfame Realty (Holdings) Limited (hereinafter referred to as Skyfame Realty) successfully issued USD105 million senior notes due 2022 abroad on July 8, 2019 at the rate of 13.0%. The notes are expected to be assigned a rating of B- by Fitch Ratings Ltd, a famous international rating agency. China Investment Securities International, Dongxing Securities (Hong Kong) Company Limited and Everbright Sun Hung Kai were the joint global coordinators, joint bookrunners and joint lead managers for the issuance, in addition to Future Land Resources Securities and Wilson Securities, CM Financial and Morton Securities as the joint bookrunners and joint lead managers. 


Skyfame Realty is a listed company of the red chip structure on the main board of Hong Kong Stock Exchange, with the stock code of 00059. Its main business covers property development, property investment, property management and commercial operation. After years of operation in the Chinese real estate market, mainly engaged in property development, Skyfame Realty has established a number of subsidiaries and developed a number of real estate development projects of its own brand across China's mainland. This issuance of foreign debt was registered with the National Development and Reform Commission, and the proceeds from the issuance of the Notes will be mainly used for refinancing offshore indebtedness and for other general corporate purposes. 


As the PRC legal counsel for the managers, the DeHeng team was headed by lawyer Hou Zhiwei, partner of the Beijing Office, with primary support from Zhang Yan, Hu Xueyuan, Yang Jingjing, Xianyu Jiashan, Sun Yuehao and Wang Zhi. They closely cooperated with the issuer, manegers and overseas legal counsels to provide comprehensive, professional, efficient and premium legal services for the issuance.  

Relevant Lawyer

  • Zhiwei HOU

    Partner

    Tel:+86 10 5268 2888

    E-mail:houzw@dehenglaw.com

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