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DeHeng (Hong Kong) advised Changxing Urban Construction Investment Group Co., Ltd. (长兴城市建设投资集团有限公司) on its issuance of CNY335 million listed bonds with the benefit of an irrevocable Standby Letter of Credit issued by Postal Savings Bank of China Co., Ltd. Huzhou Branch

2023-05-24


DeHeng Law Offices (Hong Kong) LLP advised the managers and the trustee on Changxing Urban Construction Investment Group Co., Ltd. (长兴城市建设投资集团有限公司) (the “Issuer”, together with its subsidiaries, the “Group”) on its issuance of CNY335,000,000 3.70 per cent. credit enhanced bonds due 2026 with the benefit of an irrevocable Standby Letter of Credit provided by Postal Savings Bank of China Co., Ltd. Huzhou Branch, and listed on the Chongwa (Macao) Financial Asset Exchange Co., Ltd. (the “MOX”). 


The Issuer was established in March 2007 and is a state-owned enterprise under the control of the Changxing Government. The Issuer is a leading and one of the largest state-owned enterprises in Changxing County, Huzhou City, Zhejiang Province in terms of total assets as at 31 December 2022. The Group is mainly engaged in urban construction, urban operation and emerging industries businesses. By virtue of its diversified development strategy and business success in various sectors, the Issuer has experienced rapid growth in recent years and has also benefited from the economic strengths and strategic location of Changxing County. In recent years, in recognition of its business success, the Group has been granted a number of prestigious awards for the infrastructure construction projects it undertook.


Listing of the bonds on the MOX (Stock code: MOXTB2310) commenced on 23 May 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, Catherine Kwok, Evelyn Fan, Fairy Wang, Dexter Yeung, Lilian Kwong, Jeff Wang, Andy Kwok, Sherry Zhang, Neil Wang and Liz Tang.

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