Appleby acted as Cayman counsel for Times Property Holdings Limited (Times Property) in relation to the issuance of 10.375% RMB900 million Senior Notes due 2017. The net proceeds from the issuance of the Notes will be used to refinance its existing debt. Earlier this year, Appleby also acted for Times Property in its issuance of 12.625% US$225 million Senior Notes due 2019. (more…)
Herbert Smith Freehills has advised Macquarie Capital Securities Limited and ICBC International Capital Limited in relation to their role as the joint sponsors of Kangda International Environmental Company Limited’s (“Kangda”) HK$1.4 billion Initial Public Offering (IPO) and listing on the Hong Kong Stock Exchange.
Kangda is a leading wastewater treatment service provider in the People’s Republic of China. The company listed on the Hong Kong Stock Exchange on 4 July 2014. (more…)
Mayer Brown JSM has advised joint sponsors UBS Securities Hong Kong Limited and CITIC Securities Corporate Finance (HK) Limited and the underwriters on the IPO listing of Beijing Urban Construction Design & Development Group Co., Limited (“Beijing Urban Design”) on the Hong Kong Stock Exchange.
Beijing Urban Design is a construction company engaged in rail-transit related design, consultancy services and construction contracting services. It was founded in 1958 and provides design and survey services for Beijing Subway Line 1, China’s first subway line. Proceeds from the IPO will be used to supplement its general corporate capital needs. (more…)
Mayer Brown JSM has advised Deutsche Securities Asia Limited and Morgan Stanley Asia Limited as the joint sponsors and Deutsche Bank AG, Morgan Stanley Asia Limited and five other banks as underwriters on the listing of Jinmao Investments & Jinmao (China) Investments Holdings Ltd on the Hong Kong Stock Exchange. The initial public offering (IPO) has raised approximately HK$3.2 billion (US$413 million) which may further increased by approximately HK$481.5 million (US$61.7 million) if the greenshoe is exercised. (more…)
Mayer Brown JSM has advised joint sponsors UBS Securities Hong Kong Limited and CITIC Securities Corporate Finance (HK) Limited and the underwriters on the IPO listing of Beijing Urban Construction Design & Development Group Co., Limited (“Beijing Urban Design”) on the Hong Kong Stock Exchange. (more…)
Deacons advises on two high profile debt issues :
Establishment of MTN Programme and Issuance of HK$1,707 million Fixed Rate Notes by Hong Kong Science and Technology Parks Corporation guaranteed by the Government of the Hong Kong S.A.R. of the PRC
Deacons recently advised the Hong Kong Science and Technology Parks Corporation on the establishment of its HK$1,707 million Guaranteed Medium Term Note Programme (the “Programme”) and the issue of HK$855,000,000 2.12% Guaranteed Notes due 2019 and HK$852,000,000 3.20% Guaranteed Notes due 2024 under the Programme (the “Notes”). The Notes are unconditionally and irrevocably guaranteed by the Government of the Hong Kong S.A.R. of the PRC. The Programme and the Notes are listed on The Stock Exchange of Hong Kong Limited. The proceeds will be used by Hong Kong Science and Technology Parks Corporation for financing the development of Phase 3 of the Hong Kong Science Park. This landmark transaction represents the debut of the Government of the Hong Kong S.A.R. of the PRC acting as a guarantor of debt securities.
Linklaters acted as Hong Kong counsel to the Arrangers and Dealers.
Deacons’ team on this transaction was led by Kevin Tong and supported by Christine Li and Icarus Yuen.
Issuance of RMB500,000,000 4.375% Credit Enhanced Bonds due 2017 by Soar Rise Limited guaranteed by China Aviation International Holding Co., Ltd. (more…)
Ashurst announces the appointment of Nigel Pridmore as a partner in its Finance team.
Nigel, who will be based in Ashurst’s Hong Kong office, joins the firm from Linklaters where he has been a partner since 1998. He specialises in advising investment banks, corporations and sovereigns on complex debt capital markets (DCM) transactions including equity-linked debt, Renminbi denominated bonds in the offshore Chinese currency market bank and insurance company regulatory capital, ratings and accounting-driven corporate hybrid bonds, sovereign debt, pre-IPO and other illiquid financings and liability management. (more…)
The Firm represented the underwriters in the initial public offering in Hong Kong and Rule 144A/Regulation S offering by Tian Ge Interactive Holdings Limited (Tian Ge). Tian Ge offered an aggregate of 304,267,000 ordinary shares in the offering (before greenshoe) and raised gross proceeds of approximately HK$1.5 billion (US$192.8 million). Tian Ge is the largest live social video platform in China in terms of total user spending. Tian Ge offers diverse product portfolio and engaging content, including eight many-to-many live social video communities (two primary communities: 9158 Video Community and Sina Show) and one one-to-many community, Sina Showcase. Tian Ge also offers a diversified selection of virtual gifts and virtual items. Tian Ge has also entered the online games market through Duoduo Games and its release of Three Kingdoms. (more…)
Deacons advises Broad Greenstate International Company Limited (Broad Greenstate), the second landscape architecture service provider seeking a Main Board listing in Hong Kong. Broad Greenstate’s Main Board IPO is expected to raise up to approximately HK$436.5 million (subject to the exercise of over-allotment option) for Broad Greenstate and the selling shareholders. (more…)
The Firm represented the underwriters of the initial public offering in Hong Kong and Rule 144A/Regulation S offering by Tianhe Chemicals Group Limited. Tianhe offered an aggregate of 2,817,264,000 ordinary shares, which raised approximately HK$5,071.1 million (US$650.1 million) in gross proceeds. The ordinary shares of Tianhe are listed on the Hong Kong Stock Exchange. Morgan Stanley, UBS and Merrill Lynch acted as joint sponsors; Morgan Stanley, UBS, Merrill Lynch and Goldman Sachs acted as jointed global coordinators, joint bookrunners and joint lead managers; and BOCI, ICBCI and Investec acted as joint bookrunners and joint lead managers. (more…)
Gibson, Dunn & Crutcher LLP is pleased to announce that the firm is expanding its presence in Beijing and Hong Kong with two partners, Patricia Tan Openshaw and Fang Xue. Openshaw, formerly with Paul Hastings, has joined the firm’s Hong Kong office and will continue her energy and infrastructure practice. Xue, previously with Shearman & Sterling, has joined the firm’s Beijing office and will continue to focus her practice on cross-border mergers and acquisitions, going private transactions and other general corporate transactions. (more…)