DeHeng (Hong Kong) advised Wuhan Gehua Group Co., Ltd. (武汉葛化集团有限公司）on its issuance of CNY718 million listed bonds backed by an irrevocable Standby Letter of Credit issued by Hubei Bank Corporation Limited

2023-09-04

DeHeng Law Offices (Hong Kong) LLP advised the Wuhan Gehua Group Co., Ltd. (武汉葛化集团有限公司）(the “Issuer”, together with its subsidiaries, the “Group”) on its issuance of CNY718,000,000 5.0 per cent. credit enhanced bonds due 2026 with the benefit of an irrevocable Standby Letter of Credit provided by Hubei Bank Corporation Limited, and listed on the Chongwa (Macao) Financial Asset Exchange Co., Ltd. (the “MOX”).

The Issuer is wholly owned by Administrative Committee of Wuhan East Lake HTDZ. Since its establishment in 1991, the Group has carried out municipal development activities and provided public services in Wuhan City. The Group’s businesses include sales of goods business, water supply business, engineering construction business, land consolidation business, infrastructure construction business and other businesses. Leveraging on the development of Wuhan City and Hubei 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 Wuhan City.

Listing of the bonds on the MOX (Stock code: MOXTB23049) commenced on 1 September 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.