DeHeng (Hong Kong) advised Qufu Xingda Investment Development Co., Ltd. (曲阜兴达投资发展有限公司) on its issuance of CNY207.0 million listed bonds with the benefit of an irrevocable Standby Letter of Credit issued by Evergrowing Bank Co., Ltd, Jining Branch

2024-03-13

DeHeng Law Offices (Hong Kong) LLP advised the managers and the trustee on Qufu Xingda Investment Development Co., Ltd. (曲阜兴达投资发展有限公司) (the “Issuer”, together with its subsidiaries, the “Group”) on its issuance of CNY207,000,000 4.40 per cent. credit enhanced bonds due 2027 with the benefit of an irrevocable Standby Letter of Credit issued by Evergrowing Bank Co., Ltd, Jining Branch, and listed on the Chongwa (Macao) Financial Asset Exchange Co., Ltd. (the “MOX”) (Stock Code: MOXTB24048).

Established in September 2015, the Issuer is a state-owned enterprise directly and wholly owned by Qufu SAAC. As a primary investment and financing entity engaging in urban infrastructure construction and state-owned assets operation in Qufu, the Group has received strong operational and financial support (excluding credit support) from local governmental authorities in Qufu, such as the Qufu Finance Bureau and the Qufu Government. By focusing on infrastructure construction and municipal development, as well as leveraging on strong government support, the Group has established itself a core driving force in the urbanisation of Qufu. 

Lily Liang, the partner of DeHeng Law Offices (Hong Kong) LLP, led the team including Jason Wong, Darryl Ting, Christina Yip, Connie Ip, Catherine Kwok, Dexter Yeung, Lilian Kwong, Vivian Li, Sophia Chan, Evelyn Fan, Fairy Wang, Jeff Wang, Andy Kwok, Liz Tang, Catherine Hui, Pinky Lau, Faye Pang, Calvin Cheung, Geoffrey Tang, Jeremy Chu and Jerry Liu.