Skadden, Arps, Slate, Meagher & Flom has advised Baidu Inc. on a $1.5 billion bond issue, the first ever for the Chinese company.
Baidu’s U.S. dollar-denominated notes were listed on the Singapore Exchange. The notes were offered in two tranches—$750 million each of 2.25 percent, five-year debentures and 3.5 percent 10-year securities. Proceeds from the offering will be used to repay debt and other general corporate purposes.
Skadden’s team on the deal is being led by Hong Kong partner Julie Gao and Jonathan Stone. The firm has frequently advised Baidu on major transactions, including its Nasdaq initial public offering in 2005.
Beijing-based Han Kun Law Offices acted as Chinese counsel to the issuer while  Maples and Calder advised on Cayman Islands law.
The underwriters—J.P. Morgan Securities and Goldman Sachs (Asia)—are being represented by Davis Polk & Wardwell Hong Kong partner James Lin, with Jingtian & Gongcheng advising on Chinese law.
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