Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, advised Wuxing Industry Investment Husheng Company Limited (吴兴产投湖盛有限公司) (the “Issuer”,) on its issuance of US$150,000,000 4.0% credit enhanced bonds due 2025 guaranteed by Huzhou Wuxing Industrial Investment Development Group Co., Ltd. (湖州吴兴产业投资发展集团有限公司) (the “Guarantor”, together with its subsidiaries, the “Group”) and supported by an irrevocable standby letter of credit provided by Bank of Shanghai Co., Ltd. Hangzhou Branch and listed on the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”).
The Group is a state-owned enterprise controlled by the State-owned Capital Supervision and Administration Service Center of Wuxing District Huzhou City (湖州市吴兴区国有资本监督管理服务中心). Since its establishment in 2013, the Group mainly engages in the infrastructure construction, land consolidation and development, as well as sale of resettlement housing in Huzhou City.
Listing of the bonds on the Hong Kong Stock Exchange will be commenced on 12 May 2022 (Stock code: 5225).
The Partner of Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, Lily Liang, led the team includes Jason Wong, Vanessa Lai, Catherine Kwok, Dexter Yeung, Lilian Kwong, Evelyn Fan, Fairy Wang, Jeff Wang, Andy Kwok, Neil Wang and Sherry Zhang.