DeHeng Assisted in the Issuance of Hangzhou’s First Perpetual Corporate Bond (High-Growth Industry Bond) by a Municipal SOE

2025-06-24

On June 23, 2025, Hangzhou CIEC Group Co., Ltd. issued perpetual bonds for professional investors on the Shanghai Stock Exchange. This was the first perpetual corporate bond (high-growth industry bond) issued by a municipal state-owned enterprise (SOE) in Hangzhou, with an issuance scale of RMB 500 million, a term of 3+N years, and a coupon rate of 2.82%.

As the legal advisor for this project, the DeHeng team, with primary support from lawyers Wang Wenying and Huang Luohao and paralegal Wang Zian of its Hangzhou Office, closely coordinated with the issuer and other intermediary institutions and provided professional, comprehensive, and high-quality legal services for the bond issuance.