Dacheng Attorneys Advise Xinjiang Tianhengji Investment Co. on Short-term Commercial Paper Issuance

On November 21, 2012, Xinjiang Tianhengji Investment (Group) Co., Ltd. issued the first round of short-term commercial papers for 2012 (“12天恒基CP001”, code No.:041264035) worth RMB400mln and due in 365 days at a coupon rate of 4.95%. The commercial papers would be traded in the national interbank market starting from November 26.
 
Shanghai Pudong Development Bank acted as lead underwriter for the commercial papers and Dacheng as legal counsel for the issuer. The project was led by Urumqi-based partner Wang Min, with support from attorneys Zhao Jianming and Yao Xuefei.
 
Xinjiang Tianhengji Investment (Group) Co., Ltd. is a state-owned enterprise under the Agricultural Development Division of Xinjiang Production and Construction Corps (“XPCC”). Incorporated in June 2007, its total net assets reached RMB2.59bn by June 30, 2012. It is parent to five wholly-owned subsidiaries, five partly-owned subsidiaries and is involved in a number of joint stock companies. Its subsidiaries constitute a business pattern that features commodity circulation of building materials and construction and installation as the mainstay, with follow-up business in water supply, landscaping, consultation service, foreign trade and export as well as real estate development.