Skadden and Davis Polk lead on $1bn debt offering
Skadden Arps Slate Meagher & Flom and Davis Polk & Wardwell are advising on JD.com's $1bn notes offering
April 26, 2016 at 07:03 PM
2 minute read
Skadden Arps Slate Meagher & Flom and Davis Polk & Wardwell are advising on JD.com's $1bn (£690m) debt offering.
China's largest online direct sales company's first its public debt offering is expected to raise $983.5m (£678.7m). The notes are expected to be listed on the Singapore stock exchange.
Skadden is advising JD.com with a Hong Kong- led team including corporate partners Julie Gao, Jonathan Stone, Edward Lam and Christopher Betts.
Gao, who advises across a number of sectors including technology and media and healthcare, also took a role on the online retailer's $1.4bn (£1.1bn) merger with Chinese crowdsourcing platform Dada Nexus earlier this month (15 April).
Skadden advised Dada on the agreement, which saw JD contribute its subsidiary JD Daojia Business and $200m in exchange for a 47.4% stake in Dada.
JD.com has mandated Maples and Calder to deal with Cayman Islands law matters and Zhong Lun Law Firm to advise on PRC law issues relating to the offering.
The joint bookrunners of the notes offering are Merrill Lynch Pierce, Fenner & Smith and UBS AG Hong Kong Branch.
Davis Polk & Wardwell is advising the bookrunners.
Davis Polk has secured roles on several significant regional deals over the last few months.
The firm is advising China Resources Beer on its buyout of SABMiller's $1.6bn (£1.1bn) holding in subsidiary China Resources Snow Breweries. The deal sees Anheuser-Busch InBev move a step closer to completing its £71bn takeover of SABMiller.
It has also been mandated by Swiss agribusiness company Syngenta on ChemChina's $43bn (£29.7bn) takeover offer.
JunHe is advising the JD.com underwriters on PRC law.
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