DeHeng Hong Kong advised Xi'an Port Industrial Co., Limited (西安港实业有限公司) on the issuance of U.S.$63.0 million listed bonds backed by an irrevocable standby letter of credit issued by Postal Savings Bank of China Co., Ltd. Xi'an Branch

2023-11-23

DeHeng Law Offices (Hong Kong) LLP advised the managers and trustee on Xi’an Port Industrial Co., Limited’s (西安港实业有限公司) (the “Issuer”, together with its subsidiaries, the “Group”) issuance of U.S.$63,000,000 6.10 per cent. credit enhanced bonds due 2026 (the “Bonds”) backed by an irrevocable standby letter of credit issued by Postal Savings Bank of China Co., Ltd. Xi’an Branch and listed on The Stock Exchange of Hong Kong Limited (the “HKSE”). Listing of the bonds on the HKSE (Stock code: 6003) commenced on 23 November 2023.

The Issuer was established in June 2013 and is a state-owned enterprise indirectly and wholly-owned by the Xi’an Port Management Committee (西安国际港务区管理委员会). The Group’s main businesses are (i) land consolidation business, (ii) agent construction business and (iii) other businesses including factoring business, financial leasing business, trading business, operating lease business, product processing and sale business and other businesses. The Group is the primary investment, financing and construction entity for infrastructure in the Xi’an Park (西安国际港务区). 

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.