Herbies and Freshfields win Chinese bond roles
Legal Week reports
December 06, 2006 at 07:03 PM
1 minute read
Herbert Smith and Freshfields Bruckhaus Deringer have bagged lead roles advising on the largest-ever Chinese high-yield bond offering for a private company.
Herbert Smith advised underwriters Morgan Stanley and Goldman Sachs as joint lead managers on the $600m (£303m) high-yield bond offering by Chinese leading real estate developer, Shimao Property Holdings, which closed last month (29 November).
The Singapore-listed bonds, which were split between a fixed-income and shorterdated floating rate tranche, were also sold to US institutional investors through a Rule 144A offering.
Herbert Smith's five-member team was led by corporate partner Kevin Roy, assisted by Matt Emsley, Margie Chan, Nancy Xu and Jonty Lim.
Freshfields corporate partners Tim Steinert and Teresa Ko headed a six-member team advising Shimao.
Herbert Smith's Roy said: "This deal marks a significant milestone for us, as it demonstrates our ability to execute high-yield bond offerings for our underwriting clients."
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