AllBright Advises Client on Milestone Private Placement Bond Issuance in Shanghai2014-08-072385
On August 6, 2014, Shanghai Pudong Haoda Small Loan Company (Haoda) successfully issued bonds at the Shanghai Equity Exchange as the first small lender to issue private placement bonds in Shanghai. AllBright advised Haoda on the issuance.
Haoda raised 30 million RMB through the bond issuance. The bonds mature in 12 months, with face value of 100 RMB and coupon rate of 8%. All the money raised is aimed at replenishing the company’s working capital. The successful issuance of the bonds will help expand Haoda’s financing channels and further strengthen its financing capacity. Meanwhile, the successful issuance of the bond also signals an important step for the financing innovation of small lenders in Shanghai.
AllBright partner Yang Haifeng and associate Yu Cheng led the team to advise Haoda during the process of the bond issuance, including conducting due diligence, drafting legal documents and issuing legal opinions.