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Advised managers/trustee on issue of US$100m listed and guaranteed bonds by Goucheng International

Advised the joint lead managers and trustee on the issuance of US$100 million listed bonds by Goucheng International Co., Ltd. unconditionally and irrevocably guaranteed by Ninghai City Investment Group Ltd. (寧海縣城投集團有限公司).


Chungs Lawyers (in association with DeHeng Law Offices) advised the joint lead managers and the trustee on the issuance of US$100,000,000 3.5% guaranteed bonds due 2023 by Goucheng International Co., Ltd. (the “Issuer”), which is unconditionally and irrevocably guaranteed by Ninghai City Investment Group Ltd. (寧海縣城投集團有限公司) (collectively with its subsidiaries and the Issuer, the “Group”) and listed on the Hong Kong Stock Exchange (stock code: 40513).


The Group is one of the primary state-owned assets management and infrastructure construction platforms of the Ninghai Municipal Government focusing on primary land development, resettlement housing and price-capped housing and water supply and water treatment in Ninghai and is indirectly controlled by Ninghai SAMC. Established in 2000 and designated to carry out the Ninghai Municipal Government’s blueprint for municipal development in Ninghai, the Group has established itself as a leading state-owned asset management company in Ninghai and plays an important role in the urbanisation of Ninghai.


Listing of the bonds on the Hong Kong Stock Exchange commenced on 17 December 2020.


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