DeHeng (Hong Kong) advised Changxing Urban Construction Investment Group Co., Ltd. (长兴城市建设投资集团有限公司) on its issuance of U.S.$110 million listed green bonds with the benefit of an irrevocable Standby Letter of Credit issued by Huishang Bank Corporation Limited

2024-03-26

DeHeng Law Offices (Hong Kong) LLP advised the managers and the trustee on Changxing Urban Construction Investment Group Co., Ltd. (长兴城市建设投资集团有限公司) (the “Issuer”, together with its subsidiaries, the “Group”) on its issuance of U.S.$110,000,000 5.5 per cent. credit enhanced bonds due 2027 with the benefit of an irrevocable Standby Letter of Credit provided by Huishang Bank Corporation Limited, and listed on The Stock Exchange of Hong Kong Limited (the “HKSE”). Listing of the bonds on the HKSE (Stock code: 4552) commenced on 26 March 2024.

The Issuer was established in March 2007 and is a state-owned enterprise under the control of the Changxing Government. The Issuer is a leading and one of the largest state-owned enterprises in Changxing County, Huzhou City, Zhejiang Province in terms of total assets as at 31 December 2022. The Group is mainly engaged in urban construction, urban operation and emerging industries businesses. By virtue of its diversified development strategy and business success in various sectors, the Issuer has experienced rapid growth in recent years and has also benefited from the economic strengths and strategic location of Changxing County. In recent years, in recognition of its business success, the Group has been granted a number of prestigious awards for the infrastructure construction projects it undertook.

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 and Jeremy Chu.