DeHeng Advised Longnan Tourism Development and Investment Group on Issuing Jiangxi's First County-level USD Bond

2022-09-01

In August 2022, Longnan Tourism Development and Investment Group Co., Ltd. issued a bond overseas with the scale of USD 96 million and the coupon rate of 6.00%. Bank of Jiujiang Co., Ltd. provided the standby L/C for the issuance. The bond was the first county-level USD bond issued by a company in Jiangxi province.

Established in March 2016, Longnan Tourism Development and Investment is a conglomerate under the Municipal State-owned Assets Supervision and Administration Commission, with a business scope covering financial services, municipal utilities, culture and tourism. DeHeng once again served as the PRC legal counsel for the issuer and advised the client on completing this offering. The DeHeng team was led by partner Hou Zhiwei, with primary support from partner Zhang Yan, as well as Hu Xueyuan, Liu Di, Wang Haoyu and Sha Fei.