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Advised Heng Yuan International Company Ltd on its issuance of US$150 million listed bonds

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.

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