Dacheng Assist Chengdu Xisheng Group in Successful Issuance of Overseas U.S. Dollar Debt

Recently, Chengdu Xisheng Investment Group Co., Ltd. ("Xisheng Group") has successfully issued overseas U.S. Dollar debt with a maturity of 3 years of US $92.5 million at a coupon interest rate of 4.80%.

Xisheng Group was incorporated in January 2010 with a registered capital of RMB200 million. It is a limited liability company (wholly state-owned) with 100.00% of its shares held directly by the Bureau of State-owned Assets Supervision and Administration and Financial Work of Pixidu District, Chengdu. Xisheng Group is mainly engaged in the development and construction of municipal infrastructure and environmental improvement projects, sales of real estate and construction materials, etc.

Orient Securities (Hong Kong) Limited and Shanghai Bank International Limited acted as the global coordinators for the Offering, and Dacheng Law Offices acted as the PRC counsel of the underwriters in the Transaction. The project team, consisting of Mr. Chen Yang, Mr. Li Jie, Mr. Liu Xiaoyan and Mr. Nancy Xi, has provided full-process and professional legal services for the Closing Project. The services mainly include conducting legal due diligence of Xisheng Group and its important domestic subsidiaries, reviewing the Offshore Circulation and transaction documents and issuing PRC legal opinions.