Dacheng Advises Ningbo Meishan Island Development & Investment Co., Ltd. on 2015 Corporate Bond Issuance
A Ningbo-based team led by senior partners Wei Jie and Jiang Hongming advised Ningbo Meishan Island Development & Investment Co., Ltd. on the public offering of no more than RMB800mln corporate bonds. The company received an official approval for the bond issuance (No. (2015)233) from the National Development and Reform Commission (“NDRC”) on February 5, 2015 and completed the issuance on March 20.
The issuance was guided by “Corporate Bond Review Handbook” released by NDRC in December 2013, in which higher requirements were set for attorneys regarding the carefulness and strictness of due diligence.
Ningbo Meishan Island Development & Investment Co., Ltd. is primarily engaged in land plot development, infrastructure construction and community facility construction in the bonded port area of Meishan Island.
RMB800mln seven-year fixed-rate bonds at a coupon rate of 6.27% were issued. Caitong Securities Co., Ltd. acted as lead underwriter, Union Power Certified Public Accountants LLP acted as auditor and Dacheng as legal counsel for the issuer. The attorneys’ expertise and diligence were highly commended by the client.
The issuance was guided by “Corporate Bond Review Handbook” released by NDRC in December 2013, in which higher requirements were set for attorneys regarding the carefulness and strictness of due diligence.
Ningbo Meishan Island Development & Investment Co., Ltd. is primarily engaged in land plot development, infrastructure construction and community facility construction in the bonded port area of Meishan Island.
RMB800mln seven-year fixed-rate bonds at a coupon rate of 6.27% were issued. Caitong Securities Co., Ltd. acted as lead underwriter, Union Power Certified Public Accountants LLP acted as auditor and Dacheng as legal counsel for the issuer. The attorneys’ expertise and diligence were highly commended by the client.