April 26, 2011, Zhongsheng GroupHoldings Limited (0881.HK) successfully issued 1.25 billion due 2014 RMB bonds with an interest of 4.75% per annum in Hong Kong. The issue price was equal to the present value of the principal.

Zhongsheng Group is one of the leading national automobile dealership groups in China, which mainly engages in automobile sales and after-sale services. The Group focuses on luxury brands such as Mercedes-Benz, Lexus and Audi, and also mid-to-high end brands of Toyota, Nissan, Honda and General Motors.

Jingtian& Gongcheng acted as the underwriter's PRC lawyer in the offering.