DeHeng Advised Several Companies on Overseas Bond Issuance

2022-06-16

1. Hefei Industry Investment Group 

Hefei Industry Investment Group completed the issuance of USD 500 million bonds in June 2022 overseas, with the coupon rate of 3.90%. The issuance was the largest overseas ever by a state-owned enterprise in Anhui province. 

DeHeng acted as the Chinese legal counsel for the underwriter and advised the issuer on completing the offering.

2. Penglai State-owned Assets Investment Group Co., Ltd., Zhoushan Archipelago New Area

Penglai State-owned Assets Investment Group Co., Ltd., Zhoushan Archipelago New Area completed the overseas bond issue of USD 150 million in June 2022, with the coupon rate of 3.90%.Zhoushan Branch of Hangzhou Bank Co., Ltd. provided standby L/C for the issuance.

DeHeng acted as the PRC legal counsel for the underwriter and advised the issuer on completing the offering.

3. Xianning Urban Development (Group) Co., Ltd. 

Xianning Urban Development (Group) Co., Ltd. issued USD 70.5 million bonds overseas with a coupon rate of 4.5% in June 2022. Wuhan Branch of China Bohai Bank Co., Ltd. provided standby L/C for the issuance.This was the first overseas bond issued by enterprises in Xianning, Hubei province. 

DeHeng served as the PRC legal counsel for the issuer and advised the client on completing this offering. 

4. Yangzhou Longchuan Holding Group Co., Ltd. 

Yangzhou Longchuan Holding Group Co., Ltd. issued USD 101 million of bonds overseas in April 2022 at a coupon rate of 3.80%. Suzhou Branch of China Bohai Bank Co., Ltd. provided standby L/C for the issuance.

DeHeng acted as the PRC legal counsel for the underwriter and advised the issuer on completing the offering.

For the above issuances, the DeHeng team was led by partner Hou Zhiwei, with primary support from partner Zhang Yan, as well as Wang Jing, Hu Xueyuan, Geng Chen, Li Wentao, Yang Youqi, Liu Di, Wang Haoyu, Sha Fei and Wang Hetong.