Tian Yuan Law Firm LLP ("Tian Yuan Hong Kong") assisted Dongying City Dongying District Municipal Holding Group Co., Ltd. ("Dongying Municipal Holding") in successfully completing offshore RMB senior unsecured credit enhancement on February 5, 2024 Issuance of bonds. The bond issuance size is RMB 286 million, with a coupon rate of 4.6% and due in 2027. The bond was supported by a standby letter of credit from the Dongying Branch of Bank of Qingdao Co., Ltd. and was listed on the China (Macau) Financial Assets Exchange Co., Ltd. ("Macau Exchange").

As Dongying City's core state-owned assets platform with the largest assets, the strongest profitability, and the most prominent administrative status, Dongying City Holdings' business fields and investment scope cover key industries such as urban infrastructure construction, heating business, leasing business, and municipal sanitation business. It is in a monopoly position in the industry, the market is relatively stable, and the assets it operates have long-term and stable investment returns. The company's business has strong overall competitive advantages and broad development prospects.

Tian Yuan Hong Kong served as the international legal adviser to the underwriters in this bond issuance project, providing high-quality and efficient legal services throughout the process. The main services provided include but are not limited to drafting and revising various transaction documents, reviewing bond-raising documents, and assisting the underwriters in legal matters. Due diligence, issuing overseas legal opinions, leading project delivery and other matters.

Tian Yuan Hong Kong has extensive experience in overseas bond issuance (especially overseas bond issuance by Chinese-funded enterprises). Adhering to the concepts of professionalism, dedication and diligence, Tian Yuan Hong Kong always provides high-quality and efficient legal services to clients, and fully understands the special and important matters that Chinese-funded enterprises need to pay attention to in overseas financing.