DeHeng Advised Da Heng Qin on Issuing the First 10-year Long-Term Credit Bond (Option Free) in Zhuhai

2022-04-22

On April 19, 2022, Zhuhai Da Heng Qin Company Limited issued the first tranche of high-quality corporate bonds of 2022: Type 1 Bond is of a scale of RMB 700 million with a term of five years and the coupon rate of 3.57%, which was 103 basis points lower than the quoted loan prime rate (LPR) for loans with a term of more than 5 years in the same period, and about 5 basis points lower than the valuation of the existing bonds of the Company with the same maturity; Type 2 Bond has a scale of RMB 300 million, with a term of 10 years and the coupon rate of 4.28%, which was 32 basis points lower than the quoted LPR for loans with a term of over 5 years in the same period - it is the first long-term credit bond (option-free) with a term of 10 years in Zhuhai.

As the legal counsel for the issuance, the DeHeng team, led by partners Chen Jian and Zhang Wendong, with primary support from He Jing and Cheng Yahui, worked closely and actively with the issuer, underwriter, and rating agency, and provided professional, comprehensive and efficient legal services for the client.