Dentons Advises Nantong North City Development and Construction Corporation on Issuing 17 North City Corporate Bond

On August 4, 2017 Nantong North City Development and Construction Corporation's Corporate Bond (“17 North City Corporate Bond”) gained the approval letter “Fagai Corporate Bond [2017] No. 131” from the National Development and Reform Commission and was successfully issued, with a bond code of 1780198 and issue size of RMB1.5 billion. 1 billion yuan of the funds raised will be used in the construction of affordable housing in the North City, and the remaining 500 million yuan will be used in supplementing the operating capital.
Northeast Securities Co., Ltd. was the lead manager of the bond, underwriting by standby commitment. After the comprehensive rating conducted by China Cheng Xin International Credit Rating Co., Ltd., the bond’s credit rating was AA. The bond issuer was advised by a Nantong-based team, consisting of Senior Partner Gu Yingbin and Associate Zhang Zhouyi.