DeHeng (Hong Kong) advised Mengcheng Development Zone Xingmeng Investment Co., Ltd. (蒙城县开发区兴蒙投资有限公司) on its issuance of CNY670 million listed bonds backed by an irrevocable Standby Letter of Credit issued by Industrial and Commercial Bank of China Limited, Anhui Provincial Branch

2023-07-26

DeHeng Law Offices (Hong Kong) LLP advised the managers and the trustee on Mengcheng Development Zone Xingmeng Investment Co., Ltd.(蒙城县开发区兴蒙投资有限公司) (the “Issuer”, together with its subsidiaries, the “Group”) on its issuance of CNY670,000,000 3.58 per cent. credit enhanced bonds due 2026 with the benefit of an irrevocable Standby Letter of Credit provided by Industrial and Commercial Bank of China Limited, Anhui Provincial Branch, and listed on the Chongwa (Macao) Financial Asset Exchange Co., Ltd. (the “MOX”). 

Since the Issuer establishment in 2017, the Group has carried out municipal development activities and provided public services in Mengcheng County. The Group’s businesses include infrastructure construction, engineering construction, land leasing, sales of construction materials, transportation service, leasing of construction materials and other business. Leveraging on the development of Mengcheng County and Anhui Province, strong shareholder’s support and the experienced management team of the Group, the Group has undertaken and played an important role in the development of Mengcheng County.

Listing of the bonds on the MOX (Stock code: MOXTB23040) commenced on 25 July 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.