Dentons successfully advises on issuing dollar bonds overseas for Lingang Holdings

A Dentons Beijing-based team, led by senior counsel Zhang Wei, with assistance from partners Li Jieyu and Shi Wen, and associates Zhong Luman and Liu He, acted as the Chinese legal counsel for the underwriters in connection with Tianjin Lingang Investment Holdings Co., Ltd. ("Lingang Holdings") issuing Reg S 360-day 6.75% US$110 million unrated senior debenture dollar bonds.

Lingang Holdings is a wholly state-owned enterprise under the State-owned Assets Supervision and Administration Commission of Tianjin Binhai New Area. It is mainly engaged in the construction, development and operation of infrastructure, supporting facilities and port facilities in the Tianjin Harbor Economic Area.

The Development Bank of Singapore, Wing Lung Bank, Central Wealth Securities, Dongxing Securities (Hong Kong) and Haitong Bank, S.A. served as the joint global coordinators, joint lead managers and joint bookkeepers of the issuance. Besides, the bonds were successfully listed on the Hong Kong Stock Exchange. The successful issuance of this oversea dollar bonds will help Lingang Holdings to optimize its capital structure and enhance its overall financing capabilities and international reputation.

The Dentons team provided a full scope legal assistance on this project. Their work mainly included carrying out legal due diligence on Lingang Holdings and its major affiliates and subsidiaries, assisting in communication with foreign exchange authorities, reviewing overseas prospectus and transaction documents, and issuing an attorney's legal opinion under Chinese law.