Dacheng Nanning Office Advise Guangxi Xijiang Development & Investment Group on Enterprise Bond Issue

Recently, RMB1.05bn worth of enterprise bonds was issued successfully by Guangxi Xijiang Development & Investment Group Co., Ltd. (“12西江债”) and started trading in the capital market.
 
Ping An Securities acted as lead underwriter for the bonds and Dacheng’s Nanning office as legal advisor for the issuer. The assignment was handled by partner Li Anhua and attorney Xiang Zhe.
 
The 10-year-term fixed-rate bonds grant the issuer the option to uplift the coupon rate and the bondholder the option to sell back. In the first five years before maturity, the coupon rate will remain at 7.82%. At the end of the fifth year, the issuer can opt to uplift the coupon rate by zero to 100 basis points on the basis of the 7.82%. The adjusted coupon rate will be kept consistent in the second five years.