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Chungs Lawyers advised Heng Yuan International Company Ltd (the “Issuer”) on its issuance of US$150,000,000 2.20% guaranteed bonds due 2024 unconditionally and irrevocably guaranteed by Ningbo Haishu Development and Construction Investment (Group) Co., Ltd. (寧波市海曙開發建設投資集團有限公司) (collectively with its subsidiaries and the Issuer, the “Group”), and listed on the Hong Kong Stock Exchange (stock code: 40950).


Since its establishment in 2014, the Group has been the core operating entity carrying out municipal development activities and providing public services in Haishu District of Ningbo City. Leveraging on the development of Ningbo City and Haishu District, strong shareholder’s support and an experienced management team of the Group, the Group has undertaken and completed a large number of municipal development projects and played an important role in the development of Haishu District.


Listing of the bonds on the Hong Kong Stock Exchange commenced on 3 December 2021.


The Partner of Chungs Lawyers, Lily Liang, led the team includes Tracy Wong, Jason Wong, Lawrence Lam, Dexter Yeung, Lilian Kwong, Amber Cao, Evelyn Fan, and Fairy Wang.

Chungs Lawyers advised Zhongrong International Bond 2021 Limited (the “Issuer”) on its issuance of US$100,000,000 6.80% guaranteed notes due 2022 unconditionally and irrevocably guaranteed by Zhongrong International Holdings Limited (the “Guarantor”) with the benefit of a keepwell and liquidity support deed and a deed of equity interest purchase undertaking by Zhongrong International Trust Co., Ltd. (中融國際信托有限公司) (collectively with its subsidiaries, the Issuer and the Guarantor, the “Group”), and listed on the Singapore Exchange.


Zhongrong International Trust Co., Ltd. is one of the leading trust companies in the PRC. The Group’s principal business is its trust business which includes the design of asset-specific trust products and investment of trust assets in such products. In recent years the Group has expanded into non-traditional business, including asset management and wealth management.


Listing of the bonds on the Singapore Exchange commenced on 1 December 2021.

Chungs Lawyers advised Tianjin Free Trade Zone Investment Holdings Group Co., Ltd. on its issuance of US$200,000,000 3.00% credit enhanced notes due 2024 with the benefit of an irrevocable standby letter of credit issued by China Bohai Bank Co., Ltd., Tianjin Pilot Free Trade Zone Branch (渤海银行天津港保税区分行), and listed on the Hong Kong Stock Exchange (stock code: 40936).


Established in 2008, Tianjin Free Trade Zone Investment Holdings Group Co., Ltd. provides regional services to three development zones within the city of Tianjin, including the Tianjin Port Free Trade Zone (天津港保稅區), the Tianjin Airport Economic Area (天津空港經濟區), and the Tianjin Airport International Logistics Zone (天津空港國際物流區). Tianjin Port FTZ operates under tax-free and paperwork-free policies, and is the largest free trade zone in Northern China.


Listing of the bonds on the Hong Kong Stock Exchange commenced on 25 November 2021.