DeHeng's Hong Kong Associated Firm advised Zhenjiang Cultural Tourism Industry Group Co., Ltd. (镇江文化旅游产业集团有限责任公司) on its issuance of USD57.5 million listed bonds with the benefit of an irrevocable Standby Letter of Credit issued by Bank of Nanjing, Zhenjiang Branch

2022-09-13

Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, advised the managers on Zhenjiang Cultural Tourism Industry Group Co., Ltd. (镇江文化旅游产业集团有限责任公司) (the “Issuer”) on its issuance of USD57,500,000 5.2% credit enhanced bonds due 2025 with the benefit of an irrevocable Standby Letter of Credit issued by Bank of Nanjing, Zhenjiang Branch, and listed on the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”).

The Issuer is one of the major investment, financing and infrastructure construction state-owned entities in Zhenjiang. It is a state-owned enterprise wholly owned by and under the direct management and supervision of Zhenjiang SASAC. Since its establishment in December 1992, the Issuer has played an important role in implementing Zhenjiang Government’s blueprint for urban planning and municipal construction in Zhenjiang and has received strong financial and operational support from Zhenjiang Government. 

Listing of the bonds on the Hong Kong Stock Exchange (Stock code: 5506) commenced on 9 September 2022.

The partner of Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, Lily Liang, led the team including Jason Wong, Vanessa Lai, Darryl Ting, Christina Yip, Connie Ip, Catherine Kwok, Dexter Yeung, Lilian Kwong, Fairy Wang, Evelyn Fan, Jeff Wang, Andy Kwok, Neil Wang, Sherry Zhang, Liz Tang and Vince Chan.