DeHeng Advised Several Companies on Bond Issuance at Home and Abroad

2022-03-17

1.  Caofeidian State Holding Investment Group Co., Ltd. 

Caofeidian State Holding Investment Group Co., Ltd. completed the overseas issuance of USD 100 million bonds in January 2022, with a coupon rate of 2.1%. This was the largest issuance for enterprises of the same type in Hebei province. 

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

2. Huzhou City Investment & Development Group Co., Ltd. 

Huzhou City Investment & Development Group Co., Ltd. completed the overseas bond issuance worth of USD 300 million in January 2022, with a coupon rate of 2.85%. 

DeHeng once again served as the PRC legal counsel for the issuer and advised it on completing the offering.

3. Guorui Properties Limited 

Guorui Properties Limited completed the exchange offer and consent solicitation for its existing priority notes in February 2022. As part of the exchange offer and consent solicitation, a new note with a total principal of USD 334,790,000 was issued in the same month. 

DeHeng acted as the PRC legal advisor for the dealer, and advised Guorui Properties Limited in completing this exchange.

4. CNGR Advanced Materials Co., Ltd.

CNGR Advanced Materials Co., Ltd. completed the overseas bond issuance of USD 100 million in March 2022, with a coupon rate of 4.55%, making it the first Chinese lithium company to issue a green USD bond. 

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

5. Quzhou State-owned Capital Operation Co., Ltd. 

Quzhou State-owned Capital Operation Co., Ltd. completed the issuance of USD 470 million bonds in March 2022, with a coupon rate of 3.00%.

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

6. Huatai Securities Co., Ltd. 

The overseas subsidiary of Huatai Securities Co., Ltd. completed the issuance of USD one billion bonds in March 2022, with a coupon rate of 2.375%. 

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

7. Xinjiang Financial Investment Co., Ltd. 

Xinjiang Financial Investment Co., Ltd. issued a number of USD-denominated bonds overseas in March 2022, including the direct issuance of USD 67 million with the coupon rate of 5.60%; the issuance with the standby letter of credit of USD 28 million with the coupon rate of 2.70%, USD 20 million with 2.70%, USD 70 million with 2.88% and USD 15 million with 2.70%. 

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

8. Ninghai State-owned Assets Investment Holding Group Co., Ltd. 

Ninghai State-owned Assets Investment Holding Group Co., Ltd. completed the issuance of USD 120 million bonds in March 2022, with the coupon rate of 3.65%. 

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

9. Keqiao State-owned Assets Investment & Operation Group Co., Ltd. 

Keqiao District State-owned Assets Investment & Operation Group Co., Ltd. completed the overseas bond issuance of USD 300 million in March 2022, with the coupon rate of 3.0%. This was the first investment-grade overseas bond issued by a company in Keqiao of Shaoxing city, and registered the lowest interest rate for securities issued without a standby letter of credit by a county-level state-owned enterprise nationwide this year. 

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

10. Shengzhou City Investment & Development Group Co., Ltd. 

Shengzhou City Investment & Development Group Co., Ltd. completed the issuance of USD 143 million bonds in March 2022 overseas, with the coupon rate of 2.70%.

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

11. South China Industries Assets Management Co., Ltd. 

In February 2022, South China Industries Assets Management Co., Ltd. issued the first tranche of 2022 corporate bonds to professional investors, with a size of RMB 700 million and the coupon rate of 3.39%.

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

For the above clients, the DeHeng team was led by partner Hou Zhiwei, with primary support from partner Zhang Yan, and Wang Jing, Hu Xueyuan, Wang Yujia, Xianyu Jiashan, Jiang Yue and Sha Fei.