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 CNY140 million listed bonds backed by an irrevocable Standby Letter of Credit issued by Hefei Science and Technology Rural Commercial Bank Co., Ltd

2023-08-16

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 CNY140,000,000 5.0 per cent. credit enhanced bonds due 2026 with the benefit of an irrevocable Standby Letter of Credit provided by Hefei Science and Technology Rural Commercial Bank Co., Ltd, and listed on the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”). Listing of the bonds on the Hong Kong Stock Exchange (Stock code: 84438) commenced on 16 August 2023.

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.

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.