DeHeng (Hong Kong) advised Hangzhou Gongshu International Development (Hong Kong) Limited (杭州拱墅国际发展（香港）有限公司) on its issuance of CNY2,100,000,000 4.2 per cent. listed bonds with the benefit of a keepwell and liquidity support deed and a deed of equity interest purchase undertaking by Hangzhou Gongshu Construction and Development Holding Group Co. Ltd (杭州市拱墅区城市建设发展控股集团有限公司)

2023-12-01

DeHeng Law Offices (Hong Kong) LLP advised the managers and the trustee on Hangzhou Gongshu International Development (Hong Kong) Limited (杭州拱墅国际发展（香港）有限公司) (the “Issuer”) on its issuance of CNY2,100,000,000 4.2 per cent. bonds due 2026 with the benefit of a keepwell and liquidity support deed and a deed of equity interest purchase undertaking by Hangzhou Gongshu Construction and Development Holding Group Co. Ltd (杭州市拱墅区城市建设发展控股集团有限公司) (the “Company”), and listed on the Chongwa (Macao) Financial Asset Exchange Co., Ltd. on 1 December 2023 (Stock code: MOXTB23096).

The Issuer is wholly controlled by the Gongshu District Finance Bureau. As one of the major entities that operates public utilities business in Gongshu District. the Group conducts seven major businesses, including property leasing, security services, sales of resettlement housing, sales of materials, land development, public services and other businesses, and serves the dual purposes of supporting social and economic development of Gongshu District and Hangzhou City and achieving business growth. Since its inception in 2016, the Group has been playing a significant role in enhancing the development and competitiveness of Gongshu District and Hangzhou City .

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.