Dacheng lawyer assists Jizhou New City in successful issuance of offshore USD bonds

On June 14, 2022, Tianjin Jizhou New City Construction Investment Co., Ltd. (hereinafter referred to as "Jizhou New City", the "Issuer") successfully issued the priced senior unsecured bond of Reg S, USD70 million, non-rated, interest-rate of 3.9%, with a maturity of three years and a bank standby letter of credit as a credit enhancement measure, and completed the delivery of such bond on June 17. With Zheshang Bank Co., Ltd. (Hong Kong Branch) and Guoyuan Securities Brokerage (Hong Kong) Limited as joint global coordinators, the Bond is the first medium and long-term public offering of USD bond in Tianjin in 2022.

Jizhou New City is mainly engaged in infrastructure construction, real estate development and operation and other business in Jizhou District, Tianjin, and the actual controller is the State-owned Assets Supervision and Administration Commission of Tianjin Jizhou District People's Government. The successful issuance of USD bond is of great significance for Jizhou New City to broaden its financing channels and enhance its credit in the capital market, providing strong financial guarantee for its operation and development.

Subsequent to the successful issuance of offshore USD bonds by Jizhou New City in 2019, Dentons again established a team to assist Jizhou New City in the issuance of offshore USD bonds as the PRC legal counsels of the Issuer. The members of the team include Mr. Zhang Wei, Director of Business Department III of Beijing Headquarters, Mr. Wen Shu, partner, Ms. Zhang Shuzhen, senior partner, Ms. Zhang Wenjun and Mr. Wang Yi. The project team provided full-scale, efficient and professional legal services to facilitate the successful issuance of the USD bond, which included legal due diligence of Jizhou New City and its important subsidiaries, review of offshore issuance circulars and transaction documents, and issuance of PRC legal opinions. The project team communicated and cooperated closely with Jizhou New City and various intermediaries to jointly realize the successful issuance of the offshore bond.