Herbert Smith has recently advised Export-Import Bank of China (China Eximbank) on its issuance of RMB2 billion (US$318 million) bonds. This transaction follows China Eximbank’s successful offering of two- and three-year bonds in March with a total size of RMB4 billion, on which Herbert Smith also acted.
The bonds include a tranche of RMB1 billion (US$159 million) five-year bonds due 2017 and a tranche of RMB1 billion (US$159 million) fifteen-year bonds due 2027.
Established in 1994, China Eximbank is a state bank solely owned by the Chinese government. It is headquartered in Beijing and is the only government export credit agency in mainland China.
The Herbert Smith team was led by corporate partner Tom Chau who advised on the Hong Kong law aspects of the transaction. He was supported by associate Arthur Xu.
The US securities team was led by partner Kevin Roy supported by associates Jackie Chen and Bijun Huang.
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