Clifford Chance has advised Thai state-run PTT Exploration and Production Pcl. on a $1 billion bond issuance. The oil and gas company sold the perpetual capital notes in order to raise money for further exploration and production activities, among other general corporate purposes. Hong Kong partner Crawford Brickley led the advisory team acting for PTTEP, with help from fellow Hong Kong partner Matthew Fairclough. Allen & Overy Hong Kong partners Alex Stathopoulos and John Lee, along with Bangkok partner Suparerk Auychai, acted for underwriters Bank of America Merrill Lynch, Credit Suisse AG, Hongkong and Shanghai Banking Corp. Ltd. and J.P. Morgan Securities. [Read full story]
Hong Kong firm Cordells advised Citigroup Inc. on its $700 million purchase of a 21-story, grade-A office tower in the Kowloon district of Hong Kong. The 1.03 million-square-foot development, which is expected to be completed at the end of 2015, will serve as the bank’s Hong Kong headquarters. Partners Hilary Cordell and Helen Worth acted for Citi. Baker & McKenzie Hong Kong partner Edmond Chan represented the seller, Wheelock Properties Ltd., a subsidiary of city-based real estate company Wheelock & Co. Ltd. Maples and Calder Hong Kong partner Jenny Nip was British Virgin Islands counsel to Wheelock.
Simpson Thacher & Bartlett advised Chinese lingerie company Cosmo Lady (China) Holdings Ltd. on its $201.2 million initial public offering on the Hong Kong Stock Exchange. The money will be used to expand Cosmo Lady’s retail store network, to build three logistics centers in China and for acquisitions to grow the business. Jingtian & Gongcheng served as Chinese counsel, while Appleby Hong Kong partner Judy Lee advised on Cayman Islands law. Cleary Gottlieb Steen & Hamilton advised Morgan Stanley Asia Ltd. and China International Capital Corp. Hong Kong Securities Ltd, while Commerce & Finance Law Offices acted for the banks on Chinese law matters.
Mayer Brown JSM Hong Kong partners James Fong and Phill Smith advised a subsidiary of Chinese state-run conglomerate Zhuhai Huafa Group Co. Ltd. on a $137.8 million bond issue. Zhuhai Huafa operates in the property, financial services and media sectors, among others. Maples and Calder Hong Kong partner Jenny Nip represented the subsidiary on British Virgin Islands law. Linklaters acted for ABC Capital Ltd., Agricultural Bank of China Ltd. and Oversea-Chinese Banking Corp. Ltd.
Skadden, Arps, Slate, Meagher & Flom Hong Kong partners Christopher Betts and Will Cai are acting for Chinese online game company Ourgame International Holdings Ltd. on its $121 million initial public offering on the Hong Kong Stock Exchange. The listing, to be held June 30, will raise money to grow the company’s portfolio of games, among other initiatives. Kirkland & Ellis partners Dominic Tsun, David Zhang, Li-Chien Wong, Stephanie Lau and Stephanie Tang are representing underwriters Jefferies Hong Kong Limited and China International Capital Corporation Hong Kong Securities Ltd.
Paul Hastings Hong Kong partners Raymond Li and Zhaoyu Ren, along with Beijing partner Nan Li, represented Chanjet Information Technology Co. Ltd. on its $116.2 million initial public offering. The company, which makes enterprise software for micro and small businesses, is using the cash raised for research and development of new IT products. Tian Yuan Law Firm acted as Chinese counsel to Chanjet. Li & Partners and Guantao Law Firm advised underwriter Guotai Junan Securities (Hong Kong) Ltd. on Hong Kong and Chinese law, respectively.
Deacons is advising Hong Kong-based Chinese herbal tea seller Hung Fook Tong Group Holdings Ltd. on its $19 million initial public offering on the city’s exchange. Most of the proceeds from the IPO will go toward growing the number of the company’s retail outlets in Hong Kong and China. Hong Kong partner Ronny Chow is leading the Deacons team advising Hung Fook Tong. Paul Hastings Hong Kong partner Sammy Li is acting for sole global coordinator Crosby Securities Ltd.
Hong Kong firm Hastings & Co. represented landscape architecture company Earthasia International Holdings Ltd. on its $15.5 million initial public offering. Earthasia, which mainly serves the Hong Kong and China markets, is looking to expand its current service offerings and establish new offices on the mainland. King & Wood Mallesons and Appleby Hong Kong partner Judy Lee advised on Chinese and Cayman Islands law, respectively. Loeb & Loeb advised sole global coordinator GF Securities (Hong Kong) Brokerage Ltd. on Hong Kong law, with Jingtian & Gongcheng serving as Chinese counsel.
Four firms advised on Yes Bank Ltd.’s $488 million share placement to institutional investors. The privately held bank issued the shares in order to bolster its capital position. Linklaters Hong Kong partner Pam Shores advised Yes Bank on U.S. law, while Amarchand, Mangaldas & Suresh A. Shroff & Co. Mumbai partners Yash Ashar and Abhimanyu Bhattacharya served as Indian counsel. Allen & Overy Hong Kong partner Amit Singh and Luthra & Luthra Mumbai partner Manan Lahoty acted for lead managers Goldman Sachs (India) Securities Private Ltd., Deutsche Equities India Private Ltd., HSBC Securities & Capital Markets (India) Private Ltd., JM Financial Institutional Securities Ltd., Motilal Oswal Investment Advisors Private Ltd. and UBS Securities India Private Ltd. on U.S. and Indian law, respectively.
Rajah & Tann Singapore partner Angela Lim advised Mapletree Investments Pte Ltd. on $309.6 million in loan facilities from DBS Bank Ltd. and Hongkong and Shanghai Banking Corp. Ltd. The Singaporean real estate company is using the money to build a new logistics center in Hong Kong. Allen & Gledhill partner Lim Wei Ting acted for the banks.
Baker & McKenzie Tokyo partner Gavin Raftery acted for Japanese solar company Pacifico Energy K.K. on a $107.8 million financing for a 32-megawatt solar power plant in Kumenan City, Okayama Prefecture, Japan. Anderson Mori & Tomotsune advised the lending banks, Bank of Tokyo-Mitsubishi UFJ Ltd. and The Chugoku Bank Ltd.
Gadens Sydney partner Paul Brown acted for investment portfolio manager Managed Accounts Holdings Ltd. on its $2.8 million initial public offering on the Australian Securities Exchange. The cash raised will go toward increasing the company’s capital reserves. Sponsoring broker Novus Capital Ltd. handled legal matters in-house.