Recently, Chongqing Hechuan District Urban Construction Investment Co., Ltd. (hereinafter referred to as “Hechuan Urban Construction”) successfully issued the senior unsecured bonds (Reg S and Fitch BB+) at fixed price. These bonds were a total of US$300 million for 3 years, with fixed interest of 6.3%. The bonds were issued directly by Hechuan Urban Construction and listed on the Hong Kong Stock Exchange.

      Hechuan Urban Construction is a district-level state-owned enterprise for infrastructure development and construction in Hechuan District, Chongqing. The issue has received twice the subscription amount, and it has also attracted subscriptions from international investors outside Hong Kong, including Singapore and Europe.

      In this offering, acted as the underwriter' Chinese legal adviser, Tahota Law Firm mainly assisted the underwriters to carry out due diligence under Chinese laws against issuer, reviewed issuance documents, and issued Chinese legal opinions. The main lawyers of this project were lawyer Yang Pengfei, a senior partner and lawyer Yang Yue from International Business Department.