DeHeng (Hong Kong) advised Xuchang City Investment Corporation (许昌市投资集团有限公司) on its issuance of CNY300.0 million listed bonds backed by an irrevocable Standby Letter of Credit issued by Postal Savings Bank of China Co., Ltd. Xuchang Branch

2023-10-11

DeHeng Law Offices (Hong Kong) LLP advised the managers and the trustee on Xuchang City Investment Corporation (许昌市投资集团有限公司) (the “Issuer”, together with its subsidiaries, the “Group”) on its issuance of CNY300,000,000 3.69 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. Xuchang Branch, and listed on the Chongwa (Macao) Financial Asset Exchange Co., Ltd. (the “MOX”).

Since the Issuer’s establishment in 1988, the Group has been the core municipal infrastructure construction and operation entity in Xuchang City, Henan Province. The Group’s businesses include land consolidation, engineering settlement, interest (entrusted loan), real estate sales, commodity trade, leasing business and others. Leveraging on the development of Xuchang City, strong government support and its stable business model, the Group has undertaken and played an important role in the development of Xuchang City.

Listing of the bonds on the MOX (Stock code: MOXTB23066) has commenced on 11 October 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, Liz Tang, Catherine Hui, Pinky Lau and Faye Pang.