On 22 May 2020, Admiralty Harbour successfully assisted Xiangtan Urban & Rural Construction Development Group Co., Ltd. (the “Company”) in its issuance of US$105m 3.7% senior notes due in 2023 (the “Transaction”). The Transaction marks the second of Admiralty Harbour’s venture into local government funding vehicle (LGFV) bonds with Standby Letter of Credit (SBLC) structure. Bank of Changsha Co., Ltd. provided the SBLC for the Transaction, while Admiralty Harbour acted as Joint Bookrunner and Joint Lead Manager.
About Xiangtan Urban & Rural Construction Development Group
Founded back in June 2012, the Company is directly owned by the Xiangtan SASAC. The Company has a strong reputation as it played crucial roles in improving the infrastructure and modernization of the local community. The company recorded total assets of RMB 83.1 billion and total revenue of RMB 1.9 billion at the end of 2019.