On October 23, 2018, Rudong County Tongtai Agricultural Development Co., Ltd. successfully issued its RMB 700 billion 5-year (3+1+1) corporate bonds (Series III; bond code: 150778.SH), which was underwritten by Northeast Securities. Both the company and the bond gained a credit rating of AA, and the coupon rate was 7.5%, which is relatively low comparing with the bonds of the same type and rating issued in the near term. This is the third series of corporate bonds issued by the company, following its non-public issuance of the 2018 Series I corporate bonds (bond code: 150508.SH) and the 2018 Series II corporate bonds (bond code: 150684.SH). The above three series of bonds were all underwritten by Northeast Securities, with a total issuing size of RMB 1.9 billion.

A Dentons Nantong team led by partners Li Jingming and Fan Xinan provided a full scope legal assistance on the issuance of the above three series of bonds. During the process, our lawyers collaborated with other participating agencies in a diligent, prudent and dedicated manner, and provided a comprehensive and high-quality legal services for the successful approvals and issuance of the bonds.

In recent years, Dentons Nantong office has been spearheading the development of legal services in the bond market. Lawyers in this office has successfully assisted many local bonds' issuance, including 13 Tonggangzha Bond, 16 Gangzha Shanty Area Reconstruction Project Bond, and 17 Chongchuan Housing Project Bond. The office has established an efficient, united and professional service team, and has acquired and maintained the competitive advantage of our legal services in this location.