Dacheng Assists SME Collective Bonds of Handan in Obtaining NDRC Approval

On December 8 2013, an SME collective bond issue program of Handan was granted approval from National Development and Reform Commission (“NDRC”). The issuers were seven small and medium-sized enterprises based in Handan, Hebei province, from such sectors as machinery, chemical engineering and food. The issue was scheduled to raise no more than RMB258mln of working capital with a six-year maturity and all redeemable at the end of the third year by the issuers. Handan City Construction and Investment Co., Ltd. acted as guarantor of unlimited joint and several liabilities. The issue would start in near future.
 
Dacheng provided legal service for the issuers. The project team was led by senior partner Guo Qing and included attorneys Li Mingguo and Long Zhifeng. The team had previously acted for another two SME collective bond issue programs which were also granted government approval.