DeHeng (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) on its issuance of EUR24.0 million listed bonds with the benefit of an irrevocable Standby Letter of Credit issued by Bank of Jiangsu Co., Ltd. Yancheng Branch

2023-03-15

DeHeng Law Offices (Hong Kong) LLP advised the managers and the trustee on 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”) on its issuance of EUR24,000,000 4.6% credit enhanced bonds due 2026 with the benefit of an irrevocable Standby Letter of Credit provided by Bank of Jiangsu Co., Ltd. Yancheng Branch, and listed on the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”). 

The Company is wholly controlled by the Yancheng City Doulonggang Ecotourism Group Co., Ltd. (盐城市斗龙港生态旅游度假集团有限公司). The Group serves the dual purposes of supporting local social and economic development and achieving business growth. 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 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 Hong Kong Stock Exchange (Stock code: 5765) commenced on 15 March 2023.

Lily Liang, the partner of DeHeng Law Offices (Hong Kong) LLP, led the team including Jason Wong, Vanessa Lai, Darryl Ting, Christina Yip, Connie Ip, Evelyn Fan, Catherine Kwok, Dexter Yeung, Lilian Kwong, Fairy Wang, Jeff Wang, Andy Kwok, Neil Wang, Sherry Zhang and Liz Tang.