DeHeng (Hong Kong) advised Dongtai Chengxing Investment Development Co., Ltd. (东台市城兴投资发展有限公司) on its issuance of CNY410 million listed bonds with the benefit of an irrevocable Standby Letter of Credit issued by Bank of Shanghai Co., Ltd. Nanjing Branch

2023-05-04

DeHeng Law Offices (Hong Kong) LLP advised the managers and the trustee on Dongtai Chengxing Investment Development Co., Ltd. (东台市城兴投资发展有限公司) (the “Issuer”, together with its subsidiaries, the “Group”) on its issuance of CNY410,000,000 3.65% credit enhanced bonds due 2026 with the benefit of 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”). 

The Company is substantially controlled by the Dongtai City SAAC. The Group serves the dual purposes of supporting social and economic development of Dongtai City and achieving business growth. Since its establishment in 2015, the Group has been serving as the core operating entity responsible for land development and consolidation, infrastructure construction, as well as supporting facilities development in Gaoxin District, Dongtai City. The Group has leveraged the robust economic growth of Dongtai City and the favourable local as well as national strategies, to develop and expand its business.

Listing of the bonds on the MOX (Stock code: MOXLB2375) commenced on 28 April 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.