DeHeng Advised Taizhou New Binjiang Development Co., Ltd.
on Issuing USD Bond
2020-04-02
On April 2, 2020, Binjiang Guotou Limited, a wholly-owned overseas subsidiary of Taizhou New Binjiang Development Co., Ltd., successfully issued a three-year bond worth of USD 219 million at the coupon rate of 7%. The offering was guaranteed by Taizhou New Binjiang Development and its placement agents included Industrial Bank Hong Kong Branch, BOCI Asia, Central Wealth Securities Investment Limited and Fosun Hani Securities Limited.
Taizhou New Binjiang is a wholly state-owned company under Taizhou Municipal State-owned Assets Supervision and Administration Commission, established in August 2000 with a registered capital of RMB 4.33 billion. It is the main developer and operator of Binjiang Industrial Park in Taizhou, Jiangsu Province, and assumes a host of roles for the Park to advance infrastructure construction, adjustments to the industrial structure and stock state-owned assets, and facilitate the all-round development of the Park in various fields. It aspires to become a multi-sector, cross-region asset management and investment company with the modern enterprise system.
As the Chinese legal counselor for the issuer, the DeHeng team was headed by partner Hou Zhiwei, with primary support from Zhang Yan, Hu Xueyuan, Yang Jingjing, Xianyu Jiashan, and Sun Yuehao. They worked closely and actively with the issuer, underwriters and overseas legal team to provide comprehensive, professional, efficient and premium legal services for the offering.
