DeHeng's Hong Kong Associated Firm Advised Yancheng Dafeng Haicheng Industrial Development Co., Ltd. (盐城市大丰区海城实业发展有限公司) on its issuance of RMB521.0 million listed FTZ bonds with the benefit of an irrevocable Standby Letter of Credit issued by Bank of Shanghai Co., Ltd., Nanjing Branch

2022-12-30

Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, advised Yancheng Dafeng Haicheng Industrial Development Co., Ltd. (盐城市大丰区海城实业发展有限公司) (the “Issuer”, together with its subsidiaries, the “Group”) on its issuance of RMB521,000,000 4.20% credit enhanced bonds due 2025 in Shanghai Free-Trade Zone supported by an irrevocable standby letter of credit provided by Bank of Shanghai Co., Ltd., Nanjing Branch and listed on the Chongwa (Macao) Financial Asset Exchange Co., Ltd. (the “MOX”).

Since its establishment in 2013, the Group has been serving as the core operating entity responsible for agent construction, and sales of water and sewage treatment in Dafeng District. The Group serves the dual purposes of supporting local social and economic development and achieving business growth. The Group has leveraged on the robust economic growth of Dafeng District and the favourable local as well as national strategies, to develop and expand its business.

Listing of the bonds on the MOX (Stock code: MOXLB2279) commenced on 30 December 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 and Liz Tang.