Skadden, Arps, Slate, Meagher & Flom is advising Chinese internet search giant Baidu Inc. on a $1 billion bond sale.
Baidu is selling the five-year notes in order to raise cash for general corporate purposes, according to a statement. The dollar-denominated bonds are expected to list on the Singapore Exchange.
Hong Kong partners Julie Gao and Jonathan Stone are leading the Skadden advisory team. Han Kun Law Offices is serving as Chinese counsel, while Maples and Calder Hong Kong partner Greg Knnowles is advising on Cayman Islands law.*
Davis Polk & Wardwell Hong Kong partner James Lin is acting for underwriters Goldman Sachs (Asia) and J.P. Morgan Securities. Jingtian & Gongcheng is advising the banks on Chinese law.
Skadden and Davis Polk had the lead roles when Baidu sold $1.9 billion in bonds on the Singapore Exchange last August, the proceeds from which the company used to fund its acquisition of Chinese smartphone applications distributor 91 Wireless Websoft Ltd.
*Updated, 6/10/14: This story has been updated to include the role of Maples and Calder Hong Kong partner Greg Knowles as adviser to Baidu.