On March 26, 2019, the 2019 Fujian Government Special Bonds (Series II to V) were successfully issued. A Dentons Fuzhou team advised on the issuance of the Series II and Series V. According to the Issuance Announcements, the Series II Bonds raised a total of RMB 3.94217 billion and the Series V Bonds raised RMB 300 million.

The team consisted of Senior Partners Li Qingqing and Ye Zhiwei, associates Li Yanmei, Tang Lingdan and Wang Zecong, and trainees Li Xiaojun and Lin Shaowei. Their quality legal services, professional competence and prudent work facilitated the successful issuance of the bonds, and were highly appreciated by the client and other participating agencies.

The funds raised through the four series of bonds will be used for land reserve and toll road projects, providing financial support for the construction of key projects in Fujian Province, laying a foundation for better prevention and mitigation of debt risks for the local government, and promoting the quality development of the province.

In addition, our lawyers have written a book "Laws and Regulations Related to Local Government Issuing Special Bonds (Land Reserve and Toll Road Part)" which compiled the relevant laws and regulations concerning the issuance of local government special bonds. You can contact shaowei.lin@dentons.cn to get the electronic version of this book. We warmly welcome opinions and comments from the peers.