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Guantao advises Xianyang Urban Development Group on issuing private placement of corporate bonds (linked to low-carbon transformation) (Phase I) in 2024

Recently, Guantao has assisted Xianyang Urban Development Group Co., Ltd. ("Xianyang Urban Development Group") in completing the issuance of private placement of corporate bonds (linked to low-carbon transformation) (Phase I) for professional investors in 2024.  This bond is the first corporate bond linked to low-carbon transformation in Northwest China.  The scale of this issuance by Xianyang Urban Development Group is RMB500 million, and the bond term is five years (3 + 2); the subscription multiple is 4.31 times and the final coupon rate is 3.56%, making its debut in the capital market for the first time and setting the lowest interest rate for corporate bonds of the same rating in Shaanxi Province since 2023. The corporate rating of Xianyang Urban Development Group is AA +. 

Xianyang Urban Development Group was established on August 22, 2022, with a registered capital of RMB10 billion.  It is a state-owned enterprise under the supervision of the Xianyang Municipal State-owned Assets Supervision and Administration Commission and one of the three major platform companies in the "3 + 1 + 1" state-owned assets system of Xianyang.  Under the work arrangements of the Xianyang Municipal Communist Party Committee and the Xianyang Municipal People's Government on deepening the market-oriented reform of platform companies, Xianyang Urban Development Group, focusing on the management and supervision objectives of "first-tier companies in charge of capital, second-tier companies in charge of assets and third-tier companies in charge of operation", through new establishment and mergers, strives to build a state-owned capital operation and management group with "industry-driven, industry-guided, clear rights and responsibilities, financing boost, independent operation, sole responsibility for profits and losses and scientific management".  Xianyang Urban Development Group has 139 subordinate enterprises, including five second-tier enterprises, namely Xianyang City Construction Investment Holding Group Co., Ltd., Shaanxi Tianwang Enterprises Group Co., Ltd., Xianyang State-owned Property Management Construction Group Co., Ltd., Xianyang State-owned Assets Management Co., Ltd., and Xianyang Natural Gas Corporation; 62 third-tier enterprises and 72 fourth-tier enterprises. 

The Guantao team was led by partner Ms. Li Huiwen,, assisted by signing partners Wang Fan and Sun Hong, as well as internal examination partners Du En and Luo Zengjin.