HONG KONG, April 27, 2023: Morgan Lewis acted as international counsel to construction investment company Pingdu State-Owned Assets Management Co. Ltd. (Pingdu Asset Management) on its $200 million offshore guaranteed bond offering. The bonds are unconditionally and irrevocably guaranteed by Pingdu Construction Investment Development Co. Ltd.
The bonds, which are listed on the Chongwa (Macao) Financial Asset Exchange Co. Ltd. (MOX), have a coupon of 7.7% per annum and will mature in 2026. Pingdu Asset Management is a state-owned urban construction investment company providing infrastructure investment, financing, construction, and asset operation services.
The team advising Pingdu Asset Management included partners David Liao, Keith Cheung, and Louise Liu, of counsel Tatfu Wong and Cheng Shi, and associate Lingren Meng.
In Hong Kong, Morgan, Lewis & Bockius is a separate Hong Kong general partnership registered with The Law Society of Hong Kong.