On November 25, 2014, Guangxi Laibin Industrial Investment Co., Ltd. (stock code: 1480572) completed bookkeeping and issuance of RMB1bn corporate bonds, with approval from the Department of Fiscal and Financial Affairs of NDRC. The seven-year-term fixed-interest-rate bonds, bound by an advance repayment of principal clause, adopt a benchmark rate of 4.85% and a coupon rate of 5.97%. The fund raised from the issuance would all be used to support shanty town renovation projects in Laibin.

A Dacheng team composed of attorneys Xiu Rui, Peng Songzhi, Zhang Jing, Chen Wenqing and Chen Changsong provided legal counsel for the issuer.

The issuance in question was regulated by the newly promulgated “Corporate Bond Approval Handbook”, which has set out more strict and detailed approval standards and requirements on lawyers’ work.