Zhoushan Islands New Area Penglai State Asset Investment Group’s $150 Million Bonds Offering

Chungs Lawyers advised Zhoushan Islands New Area Penglai State Asset Investment Group on the deal.

Zhoushan Islands New Area Penglai State Asset Investment Group Co., Ltd. executed the issuance of US$150 million 3.90% credit enhanced bonds due 2025 supported by an irrevocable standby letter of credit provided by Bank of Hangzhou Co., Ltd. Zhoushan Branch and listed on the Stock Exchange of Hong Kong Limited.

Zhoushan Islands New Area Penglai State Asset Investment Group is the core operating entity responsible for sales of resettlement housing and affordable housing, as well as land development and consolidation in Daishan County, serving the dual purposes of supporting the social and economic development of Daishan County and achieving business growth. 

The Chungs Lawyers team was led Lily Liang (Picture), and included Jason Wong, Vanessa Lai, Darryl Ting, Christina Yip, Catherine Kwok, Dexter Yeung, Lilian Kwong, Fairy Wang, Evelyn Fan, Jeff Wang, Andy Kwok, Neil Wang, Sherry Zhang and Janice Yang.

Involved fees earner: Evelyn Fan – Chungs Lawyers (in association with DeHeng); Catherine Kwok – Chungs Lawyers (in association with DeHeng); Andy Kwok – Chungs Lawyers (in association with DeHeng); Lilian Kwong – Chungs Lawyers (in association with DeHeng); Vanessa Lai – Chungs Lawyers (in association with DeHeng); Lily Liang – Chungs Lawyers (in association with DeHeng); Darryl Ting – Chungs Lawyers (in association with DeHeng); Jeff Wang – Chungs Lawyers (in association with DeHeng); Fairy Wang – Chungs Lawyers (in association with DeHeng); Neil Wang – Chungs Lawyers (in association with DeHeng); Jason Wong – Chungs Lawyers (in association with DeHeng); Janice Yang – Chungs Lawyers (in association with DeHeng); Dexter Yeung – Chungs Lawyers (in association with DeHeng); Christina Yip – Chungs Lawyers (in association with DeHeng); Sherry Zhang – Chungs Lawyers (in association with DeHeng);

Law Firms: Chungs Lawyers (in association with DeHeng);

Clients: Zhoushan Islands New Area Penglai State Asset Investment Group;