DeHeng Advised Risesun Real Estate Development Co., Ltd.’s
Wholly-owned Subsidiary on Issuing US Dollar Bonds
2019-05-05
In April 2019, Risesun Real Estate Development Co., Ltd. (hereinafter referred to as "Risesun Development") issued $325 million of senior unsecured fixed-rate bonds through its overseas indirect wholly-owned subsidiary RongXinDa Development (BVI) Limited, with a term of 3 years and a coupon rate of 8.00%. The bonds issued this time were listed on the Singapore Exchange under the symbol XS1979285571. Risesun Development provided unconditional and irrevocable cross-border joint and several liability guarantee for bond principal and interest.
Established in 1996, Risesun Development was listed on the Shenzhen Stock Exchange on August 8, 2007, becoming the first real estate company listed through IPO in Hebei Province. After over 20 years of development, Risesun Development has made great strides in its business scale and business field, evolving rapidly from the initial development of ordinary residential into a nationally renowned multi-industry comprehensive group enterprise, and integrating such interests as real estate development, health tourism investment, financial investment and internet innovation.
DeHeng, as the counsel for the issuer, formed a project team headed by lawyer Zhu Ming, Partner of DeHeng's office in Beijing, supported by lawyers Tian Yuan, Sun Meng and Pang Tianhong. The team worked closely and actively with the issuers, underwriters, and overseas lawyers to provide comprehensive, professional and efficient legal services for this project.
