Chungs Lawyers, the associated firm of DeHeng Law Offices in Hong Kong, advised Shengzhou Communications Investment and Development Group Co., Ltd. (嵊州市交通投资发展集团有限公司) (the “Issuer”, together with its subsidiaries, the “Group”) on its issuance of US$142,000,000 3.50% credit enhanced bonds due 2025 supported by an irrevocable standby letter of credit provided by Bank of Ningbo Shaoxing Branch and listed on the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”).
Established in 1998, the Issuer is wholly owned by Shengzhou Investment Holding Co., Ltd. (嵊州市投资控股有限公司). The Group is one of the major operating entities for urban development and transportation infrastructure construction in Shengzhou City, including infrastructure construction, provision of accommodation service and sale of construction materials. Leveraging on the development of Shengzhou City and Zhejiang Province, strong shareholder’s support and its diversified businesses, the Group has undertaken and completed a large number of construction projects and played an important role in the development of Shengzhou City.
Listing of the bonds on the Hong Kong Stock Exchange commenced on 26 April 2022 (Stock code: 5195).
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.