20 November 2019

KWM acted on the first MOX-listed LGFV bond issuance

King & Wood Mallesons (KWM) advised Hongkong International (Qingdao) Company Limited, a wholly-owned subsidiary of Qingdao City Construction Investment (Group) Limited (Qingdao City Construction Investment), on the issuance of its US$300 million 3.9% bonds due 2022. The bonds will be listed on The Stock Exchange of Hong Kong Limited and Chongwa (Macao) Financial Asset Exchange Co., Ltd. (MOX).

The successful completion marks the first MOX-listed bond issued by a LGFV (Local government financing vehicle). Established in 2018, MOX is the only Macau*-based financial institution founded by a state-owned enterprise directly under the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council of the PRC. It is the first financial institution in Macao to provide bond issuance, listing, registration, custody, trading and settlement services.

Qingdao City Construction Investment is wholly-owned by the SASAC of Qingdao City and has a diverse range of businesses across multiple industries, including infrastructure development, primary land development, development of commodity housing, financial services, photovoltaic power generation and trading. Established in 2008, Qingdao City Construction Investment has played an important role in implementing the Qingdao Municipal Government’s blueprint for urban planning and municipal construction.

KWM acted for Hongkong International (Qingdao) Company Limited and Qingdao City Construction Investment as international counsel. The team was led by Hong Kong partners Hao Zhou and Michael Lu, with support from counsel Cynthia Tan and associate Luning He.


*Any reference to “Hong Kong” or “Hong Kong SAR” and “Macau” or “Macau SAR” shall be construed as a reference to “Hong Kong Special Administrative Region of the People’s Republic of China” and “Macau Special Administrative Region of the People’s Republic of China”.

Media contact

Share on LinkedIn Share on Facebook Share on Twitter
    You might also be interested in

    We are pleased to have advised Sino Biopharmaceutical on its first-time issuance of €750 million zero coupon convertible bonds due 2025.

    19 February 2020

    We are pleased to announce the continued expansion of our capital markets practice with the addition of Jason T. Kuo.

    17 February 2020

    KWM has risen in the rankings of the world’s best legal brands, jumping two places to 14th in the 2020 Acritas Global Elite Law Firm Brand Index.

    24 January 2020

    We are pleased to have maintained our leading position as a Band 1 law firm in Chambers FinTech 2020 rankings.

    23 January 2020

    Legal services for your business

    This site uses cookies to enhance your experience and to help us improve the site. Please see our Privacy Policy for further information. If you continue without changing your settings, we will assume that you are happy to receive these cookies. You can change your cookie settings at any time.

    For more information on which cookies we use then please refer to our Cookie Policy.