DeHeng Advised China Construction Fourth Engineering Division Co. Ltd. 

on Second Issuance of Mid-term Notes 2018

2018-11-22

China Construction Fourth Engineering Division Co. Ltd. (the "China Construction Fourth Division") successfully issued the second phase of 2018 mid-term notes on November 20, 2018, with an amount of RMB 1.5 billion, a term of 3+N years and a coupon rate of 5.72%. The credit rating was AAA. DeHeng acted as the legal counsel for this issuance, for which China Construction Bank acted as the lead underwriter, Bank of China as the joint lead underwriter, China Cheng Xin International Credit Rating Co., Ltd. as credit rating agency, and PricewaterhouseCoopers (PwC) as the auditor. This issuance marked the full issuance of the entire 3 billion mid-term notes that China Construction Fourth Division submitted for registration and issuance on September 12, 2018 at the National Association of Financial Market Institutional Investors.

China Construction Fourth Division, established in 1962, is a wholly-owned subsidiary of China State Construction Engineering Corporation Limited (CSCEC, stock code: 601668.SH) which in 2018 ranked 23rd on the Fortune Global 500 list and 3rd on Fortune China 500 list, and was awarded the highest credit level in the global building industry. With a registered capital of RMB 5.1 billion, the company is engaged in building construction, infrastructure construction, real estate development, investment & construction, etc., with four national superior-grade certifications for the engineering, procurement and construction (EPC) of building projects, one superior-grade EPC certification for municipal works and public utilities, and first-grade certifications for mechanical and electrical installation, infrastructure, decoration, steel structures and curtain walls.

As the legal counsel for China Construction Fourth Division in this issuance, DeHeng put together a project team headed by Peng Mingzhi, partner of Deheng’s office in Guangzhou and Liang Yi, business partner of the Guangzhou office, and included attorneys Hong Jian, Chen Yansi, Xiao Yuehui, Zhang Xiaotong, and Zhang Shenglan, to provide legal services for the client in the entire process. DeHeng will continue to provide professional, high-quality and efficient legal services to our clients as always.