International law firms in Hong Kong are picking up growing numbers of advisory mandates on high-yield dim sum bonds, following a surge in investor appetite for the product over the last quarter. Firms such as Linklaters, Davis Polk & Wardwell, Morrison & Foerster (MoFo) and Skadden Arps Slate Meagher & Flom are among the international players turning their attention to the market as a string of sub-investment grade Chinese companies consider new fundraising options. To date issuances of renminbi (RMB) denominated 'junk' bonds have been almost unheard of in the region, with the RMB bond market dominated by investment-grade issuers since the first dim sum bonds were issued by Chinese banks in Hong Kong in 2007.
June 06, 2013 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
Links and Skadden among firms securing mandates as investor interest soars. Elizabeth Broomhall reports
International law firms in Hong Kong are picking up growing numbers of advisory mandates on high-yield dim sum bonds, following a surge in investor appetite for the product over the last quarter.
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