Recently,as the domestic legal advisers for Chongqing Dasheng Assets Management Company(the issuer), Li Qingyu, the executive director of Chongqing office, YangPengfei, our partner lawyer, and Lu Junlin from an lawyer team helped Dashengissue cross-border RMB bonds in Singapore Stock Exchange on September 30th,2016.

It wasthe first time for a Chongqing district-level company to issue cross-border RMBbonds. The issue involved 500 million RMB with a 4.375% per year coupon rateand would last for three years, which had great guiding significance forprefecture-level enterprises to issue cross-border RMB bonds.

Tahotadealt with foreign debt quota examination and approval by National Developmentand Reform Commission, put exchange settlement on records in StateAdministration of Foreign Exchange, designed deal structure,conducted due diligence according to relevant domestic and overseas laws andrules, drafted all transaction documents in English and offered Chinese legalopinion letters.  

Otherparticipating institutions for this issue included Global Coordinator DBS Bank,Chongqing Rural Commercial Bank which offered standby letters of credit, thetrustor Mellon Bank, king & wood mallesons  and Linklaters.

Wu Ye, apartner lawyer from Tahota Shanghai office provided technical support in thisissue.