On July 24, 2014, Fujian Zhangzhou Development Co., Ltd. (Zhangzhou Development) obtained regulatory approval from the China Securities Regulatory Commission to issue 350 million corporate bonds to improve its debt structure, repay bank loans, replenish capital and improve the company’s capital flow. AllBright advised Zhangzhou Development on the bond issuance.

Zhangzhou Development, under the supervision of the Zhangzhou State-owned Assets Supervision and Administration Commission, is a public company whose main business includes auto sales and services, water services, trade, project construction and real estate.

AllBright Shenzhen office partners Jiang Yigang and Linda Song, and associates Alan Chen and Huang Youchuan advised Zhangzhou Development on the bond issuance.