DeHeng Advised Eastern Shenghong on Obtaining CSRC Approval

on Issuing A-share Convertible Bonds

2021-02-02

On February 1, 2021, the application of Jiangsu Eastern Shenghong Co., Ltd. for public issuance of A-share convertible bonds was approved by the Public Offering Review Committee of China Securities Regulatory Commission (CSRC). Eastern Shenghong planned to raise no more than RMB 5 billion at the par value of RMB 100 of each bond, with a term of six years from the date of issuance. After deducting the issuance expenses, the raised fund will be mainly spent on the 16-million-ton refinery-petrochemical project of Shenghong Petrochemical (Lianyungang) Co., Ltd., whose investment totals RMB 67.664 billion.

As the legal counselor, the DeHeng team, led by partner Xu Jianjun and Yang Jihong, with primary support from lawyers Wang Huakun and Li Bixin, provided comprehensive, professional legal opinions for the client. This was DeHeng's another service for Eastern Shenghong following its advice on the latter's restructuring and IPO, issuance of green bonds, and private placement of A shares, fulfilling the goal of helping the capital market serve the real economy.