DeHeng Again Assisted Huatai Securities in Updating MTN Program and Completing Multi-Currency Drawing Issuance under the Program

2025-09-30

In September 2025, Pioneer Reward Limited, a subsidiary of Huatai International Financial Holdings Company Limited, which is a wholly-owned subsidiary of Huatai Securities Co., Ltd., updated its offshore-established USD 3 billion medium-term note (MTN) program. Under this program, it successfully issued RMB-denominated Magnolia Bonds, USD senior unsecured floating-rate bonds, and HKD senior unsecured bonds to global investors. Huatai Securities provided guarantees for the MTN program and this multi-currency drawing issuance.

As the PRC legal counsel for Huatai Securities in this project, the DeHeng team, with primary support from Hou Zhiwei, Zhang Yan, and Yang Youqi, once again assisted the company in completing the update of the MTN program and the multi-currency drawing issuance.