DeHeng (Hong Kong) advised Shaanxi Yushen Energy Development and Construction Group Co., Ltd. (陕西榆神能源开发建设集团有限公司) on its issuance of CNY700 million listed bonds with an irrevocable Standby Letter of Credit issued by Bank of Xi'an Co., Ltd.

2023-12-21

DeHeng Law Offices (Hong Kong) LLP advised the managers and the trustee on Shaanxi Yushen Energy Development and Construction Group Co., Ltd. (陕西榆神能源开发建设集团有限公司) (the “Issuer”, together with its subsidiaries, the “Group”) on its issuance of CNY700,000,000 4.68 per cent. credit enhanced bonds due 2026 with an irrevocable Standby Letter of Credit issued by Bank of Xi’an Co., Ltd., and listed on the Chongwa (Macao) Financial Asset Exchange Co., Ltd. (the “MOX”). Listing of the bonds on the MOX (Stock code: MOXTB23113) commenced on 14 December 2023.

Established in May 2009, the Issuer is a large state-owned enterprise directly wholly-owned by Yushen Management Committee. The Issuer has been designated by Yulin Government to be the main infrastructure construction entity within the Yushen Industrial Zone (榆神工业区), Yulin, Shaanxi Province. By leveraging strong government support and its track record in infrastructure construction, the Group has achieved stable growth in its assets scale and recorded strong operating performances over the past few years.

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, Dexter Yeung, Evelyn Fan, Fairy Wang, Lilian Kwong, Jeff Wang, Andy Kwok, Liz Tang, Catherine Hui, Pinky Lau, Faye Pang and Calvin Cheung.