Allen & Overy has advised HSBC and Standard Chartered Bank as joint global coordinators and bookrunners along with several other bookrunners and co-managers on the USD1 billion sukuk offering by The Government of the Hong Kong Special Administrative Region of the People’s Republic of China, the first Islamic bond issuance by the HKSAR Government. The AAA-rated 5-year trust certificates were offered in a combined Rule 144A/Regulation S transaction to institutional investors internationally. (more…)
Davis Polk advised Morgan Stanley & Co. International plc and Sun Hung Kai Investment Services Limited in their capacity as placing agents for the top-up placement of 160,000,000 shares in Sun Hung Kai & Co. Limited (SHK) for a total consideration of approximately US$129 million. (more…)
Paul Hastings, a leading global law firm, announced today that the firm advised China Rongsheng Heavy Industries Group Holdings Limited (“China Rongsheng”) in relation to the acquisition of a 60% equity interest in Central Point Worldwide Inc. (“Central Point”) by its indirectly wholly-owned subsidiary, Ocean Sino Holdings Limited.
The consideration for the acquisition is HK$2.184 billion (US$281 million), which is satisfied by the allotment and issuance of 1,400,000,000 shares by China Rongsheng. (more…)
The international law firm Milbank, Tweed, Hadley & McCloy has recently advised on the successful reopening of notes by the Vista Land group. Milbank advised DBS Bank Ltd. (DBS), as international underwriter, on the US$125 million reopening of 7.45% Guaranteed Notes due 2019 (the Notes) by VLL International, Inc., a subsidiary of Vista Land & Lifescapes, Inc. (Vista Land), one of the largest residential property developers in the Philippines. The Notes were unconditionally guaranteed by Vista Land and other subsidiaries of the Vista Land group. (more…)
Global legal practice Norton Rose Fulbright has advised COFCO Land Holdings Limited on its acquisitions of the minority interests in Jetway Developments and Yalong Development (HK) Company.
The aggregate consideration was approximately HK$2 billion which was satisfied by the issue and allotment of shares in COFCO Land to the respective sellers. (more…)
Milbank, Tweed, Hadley & McCloy LLP advised PT Adaro Indonesia on its US$1,000,000 loan facility from a consortium of lenders including ANZ, BTMU, CIMB, Citi, CTBC, DBS, HSBC, ING Bank, Maybank, Mizuho Bank, OCBC, SMBC, Standard Chartered Bank and UOB. The loan will be used to refinance existing indebtedness of the company. (more…)
Goodwin attorneys recently advised an investor consortium in connection with Rakuten Inc.’s announced $1 billion cash acquisition of retail website Ebates. The investor group, which together owns a substantial majority of Ebates, includes August Capital, Canaan Partners and Foundation Capital. The transaction is expected to close in October 2014. (more…)
China Huarong Asset Management Co, Ltd., one of the country’s four largest asset-management companies, recently announced that it has entered into cooperation agreements with eight strategic investors. It is reported that Warburg Pincus, Goldman Sachs, China Life, CITIC Securities, CICC, COFCO, Fosun and Khazanah will invest a total of approximately US$2.4 billion in China Huarong to secure a 21% equity interest. (more…)
Paul Hastings, a leading global law firm, announced today that the firm represented Morgan Stanley Asia Limited, CITIC Securities Corporate Finance (HK) Limited, ICBC International Securities Limited, CCB International Capital Limited, DBS Asia Capital Limited, First Shanghai Securities Limited, GF Securities (Hong Kong) Brokerage Limited and Celestial Securities Limited as counsel to the underwriters in China VAST Industrial Urban Development Company Limited’s (“China VAST”) US$130 million Hong Kong IPO and Rule 144A global offering on the Main Board of the Hong Kong Stock Exchange. (more…)
Kirkland & Ellis represents Orchid Asia Group Management Limited, a leading independent Chinese private equity firm, which recently closed its sixth private equity fund Orchid Asia VI. The fund closed at its hard cap with aggregate capital commitments of US$920 million. The fund, which will continue Orchid Asia’s investment strategy in China’s consumer services and products sector and the outsourced manufacturing and services sector, accepted commitments from a broad mix of global institutional investors, including public and private pension plans, endowments and foundations, diversified financial institutions and family offices. (more…)
The Hong Kong office of the Firm recently represented Ta Chong Bank, Ltd. in its issuance of US$350 million 1.0% Convertible Senior Bonds (the “Bonds”) to an affiliate of the Carlyle Group. Ta Chong Bank is a leading full-service commercial bank and one of the most profitable private banks in Taiwan. Common shares of Ta Chong Bank are traded on the Taiwan Stock Exchange under the trading code “2847”. The Bonds are listed on the Singapore Stock Exchange. (more…)
Herbert Smith Freehills has advised SpeedCast International Limited (SpeedCast) in relation to its initial public offering (IPO) and listing on the Australian Securities Exchange, which raised A$150 million. The IPO consisted of an institutional offer and broker firm offer. (more…)