Upon audit and approval by the Shanghai Stock Exchange, Nanjing Lishui Economic and Technical Development Group Co., Ltd. (hereinafter referred to as “Lishui Economic Development Group”) was entitled to issue non-public corporate bonds with a total amount of no more than RMB4 billion (incl.) to professional investors. The non-public issuance of corporate bonds by Lishui Economic Development Group in 2021 was completed recently. The final issuance amount of the bond was RMB4 billion, which were issued in four tranches, with coupon rates of 4.98%, 4.98%, 4.97%, and 4.85% respectively. 

Established in 1993, Lishui Economic Development Group was formerly known as Lishui Economic and Technical Development Corporation. During its 25-year development, it has made great contributions to the prosperity and development of Lishui Development Zone. In 2019, the company changed into a limited liability company and also changed to its current name. Positioned as a “comprehensive operator in the development zone”, the company is focusing on the functions such as infrastructure construction, public utility services, strategic guidance and investment for emerging industries and operational management and operation for state-owned assets. 

The successful issuance of the corporate bonds will further broaden the financing channels of Lishui Economic Development Group and reduce capital costs, providing financial guarantee for the company’s sustained and steady development and contributing to the development of Lishui Development Zone. 

As the legal advisor for the issuer Lishui Economic Development Group, Tahota carried out works in strict accordance with relevant laws and regulations as well as relevant regulations of the China Securities Regulatory Commission. We formulated a work plan, conducted due diligence on the project, provided professional legal advices, actively coordinated with various intermediary agencies, including the lead underwriter (Huatai United Securities), the co-lead underwriters (Tianfeng Securities, East Asia Qianhai Securities), the auditing agency (Talent Certified Public Accountants) and the rating agency (Golden Credit Rating) and made a lot of communications and coordination to solve the legal problems occurred during the process, so that the project can get passed successfully.