DeHeng Assisted ZRCB in Becoming the First Local Bank in China to Issue a Lotus Bond

2023-08-22

In August 2023, Zhuhai Rural Commercial Bank Co., Ltd. (“ZRCB”) issued a 3-year, RMB500 million senior unsecured green bond with a coupon rate of 3.50% on the ChongWa (Macao) Financial Asset Exchange Co., Ltd. (MOX). This was the first lotus bond, i.e., an offshore RMB-denominated bond issued in Macau and listed on the MOX, issued by a domestic bank and a local legal-person financial institution in China.

As the PRC legal counsel for the issuer, the DeHeng team, with primary support from Hou Zhiwei, Zhang Yan, Yang Youqi and Liu Chen, assisted the issuer in completing the offering.