DeHeng (Hong Kong) advised Chibi City Development Group Co., Ltd. (赤壁城市發展集團有限公司) as Issuer on its issuance of CNY700 million guaranteed bonds guaranteed by Hubei Financing Guarantee Group Co., Ltd. (湖北省融資擔保集團有限責任公司) as Guarantor
2024-05-31
DeHeng Law Offices (Hong Kong) LLP advised the managers and the trustee on the issuance of CNY700.0 million 6.50 per cent. bonds due 2027 by Chibi City Development Group Co., Ltd. (赤壁城市發展集團有限公司) (the “Issuer”, together with its subsidiaries, the “Group”) guaranteed by Hubei Financing Guarantee Group Co., Ltd. (湖北省融資擔保集團有限責任公司) (the “Guarantor”). Listing of the bonds on the Chongwa (Macao) Financial Asset Exchange Co., Ltd. (Stock code: MOXTB24109) and The Stock Exchange of Hong Kong Limited (Stock code: 84516). The listing of the Bonds commences on 31 May 2024.
The Issuer is wholly owned by Chibi SASAC. Since its establishment in 2015, the Group has carried out municipal development activities and provided public services in Chibi City. The Group’s businesses include infrastructure construction business, construction service business, sales of properties business, sales of goods business, land consolidation business and other business. Leveraging on the development of Chibi City and Hubei Province, strong shareholder’s support and the experienced management team of the Issuer Group, the Issuer Group has undertaken and played an important role in the development of Chibi City.
The Guarantor is a state-owned enterprise located in Wuhan, Hubei Province, PRC and has been primarily engaged in provisions of guarantees and other financing services. It is one of the largest and most comprehensive provincial-level state-owned financing guarantee platforms in Hubei Province.
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 and Sandy Liu.
