The Freshfields team advising on the transaction was led by partner Andrew Heathcote and counsel Bing Guan

Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised Oriental Capital Company Limited (‘Oriental Capital’) on its issuance of US$300m of guaranteed bonds due in 2019, with an interest rate of 5.15 per cent. The bonds are guaranteed by Dongfang Investment (Holdings) Corporation Limited and have the benefit of a keepwell deed from Yancheng Oriental Investment & Development Group Co., Ltd. (‘Yancheng Oriental’). The bonds are assigned a rating of BB+ by Fitch and were listed on the Hong Kong Stock Exchange on 22 November 2016.

The issuer is a direct, wholly-owned subsidiary of the guarantor, which in turn is a direct wholly-owned subsidiary of Yancheng Oriental, the state-owned investment company of Yancheng County, Jiangsu Province. It is mainly responsible for the development of resettlement housing, infrastructure construction and property management in the Yancheng Economic-Technical Development Zone.

The Freshfields team advising on the transaction was led by partner Andrew Heathcote and counsel Bing Guan.