The notes were listed on the Singapore Stock Exchange Securities Trading Limited with Citigroup and HSBC acting as joint lead managers for the issuance of the securities.
Proceeds from the securities issuance will be used primarily for business development and acquisitions by Li & Fung.
“We are delighted to be advising on this deal, particularly in relation to such a blue chip issuer such Li & Fung. The issuance of perpetual hybrid securities by Li & Fung follows a growing trend amongst Asian companies to use such structures, which combine features of both debt and equity, and will allow Li & Fung to widen its investor base and provide capital for future acquisitions.” said Appleby Partner, Jeffrey Kirk.
The Appleby team was led by Jeffrey Kirk, a corporate and banking Partner in Appleby’s Hong Kong office, assisted by Associates, Rupen Shah and Victoria Chen. Clifford Chance acted as counsel for Li & Fung Limited, while Linklaters acted as counsel for the joint lead managers.
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