Magic circle duo advise on China's first sovereign dollar bond in 13 years
Linklaters and Allen & Overy take key roles as Chinese Ministry of Finance sells $2bn bonds in Hong Kong
October 27, 2017 at 06:10 AM
2 minute read
Linklaters and Allen & Overy have taken the lead roles on a $2bn (£1.53bn) debt issue that saw the Chinese government sell dollar-denominated bonds for the first time since 2004.
On Thursday (26 October), the Chinese Ministry of Finance sold two tranches of debt in Hong Kong: $1bn in five-year notes and $1bn in 10-year bonds. The offer was announced immediately after the 19th Party Congress, where the ruling Chinese Communist Party outlined its vision for the nation in the next five years.
Linklaters Hong Kong-based Asia head of capital markets William Liu led the team advising the Ministry of Finance. Linklaters has been advising the Chinese government on international note offers since 2009. Last year, Liu also advised China on its debut renminbi bond issue in London.
Earlier this year, Linklaters formed a best-friend relationship with Shanghai-based Zhao Sheng Law Firm. Three Linklaters lawyers have been transferred to Zhao Sheng with Eric Liu, former counsel at the Magic Circle firm, taking up the managing partner role at the Chinese firm. The setup, pending regulatory approval, will lead to a formal joint operation between the two firms in the Shanghai Free Trade Zone, allowing Linklaters to offer a one-stop-shop service that includes Chinese law advice.
Allen & Overy Hong Kong partner Agnes Tsang acted for a group of 10 banks, including the Bank of China, Citigroup, Deutsche Bank, HSBC and Standard Chartered, as underwriters.
The bond sale received strong demand from investors in Hong Kong, reportedly receiving more than $10bn in orders in the first hour of opening.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Germany’s Wirecard Case Moves to Airport Hangar to Accommodate 100 Lawyers
5 minute read
Can Labour's New Budget Steady the Ship? Big Moves On UK Tax Reform and Fiscal Stability
5 minute read
Greenberg Takes 7-Lawyer Project- and Structured-Finance Team From Dentons in Warsaw
3 minute readTrending Stories
- 1Cars Reach Record Fuel Economy but Largely Fail to Meet Biden's EPA Standard, Agency Says
- 2How Cybercriminals Exploit Law Firms’ Holiday Vulnerabilities
- 3DOJ Asks 5th Circuit to Publish Opinion Upholding Gun Ban for Felon
- 4GEO Group Sued Over 2 Wrongful Deaths
- 5Revenue Up at Homegrown Texas Firms Through Q3, Though Demand Slipped Slightly
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
