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Advised Heng Yuan International Company Ltd. on its issuance of EUR90 million listed bonds

Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, advised Heng Yuan International Company Ltd (恒源国际发展有限公司) (the “Issuer”) on its issuance of EUR90,000,000 3.10% guaranteed bonds due 2025 unconditionally and irrevocably guaranteed by Ningbo Haishu Development and Construction Investment (Group) Co., Ltd. (宁波市海曙开发建设投资集团有限公司) (the “Guarantor”, collectively with its subsidiaries and the Issuer, the “Group”), and listed on the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”).

Established in 2014, the Guarantor is a state-owned enterprise located in Haizhou District, Ningbo City, China, wholly owned by the State-owed Assets Administration Centre of Haishu District of Ningbo City. The Group has been the core operating entity carrying out municipal development activities and providing public services in Haishu District, including construction and sales of resettlement housing, agent construction, municipal construction and maintenance, muck management service, construction management and other management services. Leveraging the development of Haishu District and Ningbo City, strong shareholder’s support and the experienced management team of the Group, the Group has undertaken and completed a large number municipal development projects and played an important role in the development of Haishu District.

Listing of the bonds on the Hong Kong Stock Exchange (Stock code: 5392) commenced on 3 August 2022.

The Partner of Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, Lily Liang, led the team including Jason Wong, Vanessa Lai, Darryl Ting, Christina Yip, Catherine Kwok, Dexter Yeung, Lilian Kwong, Fairy Wang, Evelyn Fan, Jeff Wang, Andy Kwok, Neil Wang, Sherry Zhang, Liz Tang, and Vince Chan.

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