DeHeng Advised CCDIH on Issuing USD 200 Million

Bonds on Singapore Stock Exchange

2021-05-08

Changchun City Development Investment Holding (Group) Co., Ltd. (CCDIH), through its overseas subsidiary, issued three-year senior unsecured USD-denominated bonds worth of RMB 200 million with a coupon rate of 4.3% on the Singapore Exchange on April 28, 2021.

The bond attracted the attention of overseas investors as soon as it was opened to registration. It raised USD 540 million, more than two times oversubscribed, and the interest rate was reduced from 4.5% to 4.3%, the lowest for urban development investment USD bonds issued with the same security structure in the past two months.

As the domestic counsel for the issuer, the DeHeng team, primarily comprising business partner Zhang Yan and associate Wang Hao, worked closely and actively with the issuer, underwriters, and other domestic and overseas legal counsels and other intermediaries, and provided comprehensive, professional, efficient and high-quality legal services for the issuance.