Recently, Nantong State-owned Assets Investment Holdings Co.,Ltd. successfully registered a total of RMB5bn of first-round short-term financing bills and medium-term notes for 2014 with the National Association of Financial Market Institutional Investors, including RMB3bn of short-term financing bills and RMB2bn of medium-term notes. Attorneys Gu Yingbin and Huang Bing from Dacheng’s Nantong office offered comprehensive legal advice for the company in relation to the registration.
Short-term financing bills and medium-term notes are securities issued by businesses with legal personality to the interbank bond market pursuant to certain conditions and procedures, with a commitment to paying back principal and interest within an agreed period of time. Specifically, short-term financing bills require repayment within one year, while medium-term notes last longer, usually for three to five years. As means of direct financing, these types of securities cost less, last longer, raise more money that can be flexibly used and helps improve the issuer’s credit and popularity.
Beijing Dacheng Law Offices, LLP ("大成") is an independent law firm, and not a member or affiliate of Dentons. 大成 is a partnership law firm organized under the laws of the People’s Republic of China, and is Dentons' Preferred Law Firm in China, with offices in more than 50 locations throughout China. Dentons Group (a Swiss Verein) ("Dentons") is a separate international law firm with members and affiliates in more than 160 locations around the world, including Hong Kong SAR, China. For more information, please see dacheng.com/legal-notices or dentons.com/legal-notices.