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Tahota advises on €93 million bond Issuance by Jiangxia Agriculture Group

2022-06-16 Views:2386

Recently, Wuhan Jiangxia Agriculture Group Company Limited.(hereinafter referred to as “Jiangxia Agriculture Group”)successfully issued €93,000,000 fixed rate bonds bearing coupon interest at 2.3%. As the PRC legal advisor of this project, Tahota advised on the issuance of the bonds in conducting due diligence on PRC laws, reviewing issuance documents, collaborating with other agents and issuing PRC legal opinions. The legal team from Tahota was led by senior partner Shaohua PENG, and included lawyer Kebo ZUO, Siyan CHEN, Sicheng WAN, and Chang GAO, etc.

Jiangxia Agriculture Group is a wholly state-owned enterprise established in September of 2013 with the approval of the Jiangxia District Government, and is invested by Wuhan Jiangxia District State-owned Assets Supervision and Administration Office, which is renamed as Wuhan Jiangxia District State-owned Assets Supervision and Administration Bureau. Jiangxia Agriculture Group focuses primarily on the investment and development of agriculture, agricultural infrastructure construction, municipal engineering construction and social and economic consulting services. As an important platform of infrastructure investment and construction in Jiangxia District, Jiangxia Agriculture Group has received substantial support by means of multiple asset injections and fund appropriations from the Jiangxia District Government in recent years. Those support measures have increased the asset scale of Jiangxia Agriculture Group, improved its financing capabilities and provided sufficient funding sources for its business development.

The successful issuance of the bonds represents Jiangxia Agriculture Group’s reappearance in the international capital market after issuing overseas bonds in 2019 and 2020, which also demonstrates its good international credit and further enhances its international reputation and influence.