find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Corporate Lawyer
Category: Generalists - In House | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· 12 months fixed term opportunity
View details
Property lawyer - Melbourne
Category: Property Law | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Impressive client list, national firm · Well-led and high-performing team
View details
Bakers lands China bond issue

Bakers lands China bond issue

Baker & McKenzie’s securities group acted for Sino Land Company Limited (Sino Land), a subsidiary of Tsim Sha Tsui Properties Limited, on its HK$2 billion ($340 million) convertible bond…

Baker & McKenzies securities group acted for Sino Land Company Limited (Sino Land), a subsidiary of Tsim Sha Tsui Properties Limited, on its HK$2 billion ($340 million) convertible bond issue, due 30 November 2009.

The proceeds from the issue will be used for general working capital purposes. The payment obligations are guaranteed by Sino Land.

Sino Land, the issuer (Getsmart Finance Limited) and the manager of the issue (JP Morgan Securities Ltd), entered into a subscription agreement on 19 October.

Elsa Chan, a partner in the securities group at Baker & McKenzie’s Hong Kong office, led the team acting for Sino Land on the deal.

“It is a Sino Land deal, but because the parent of Sino Land, Tsim Sha Tsui Properties, is also listed in Hong Kong, there are more complicated regulatory issues we had to deal with,” Chan said.

She said a team of six lawyers worked on various aspects of the deal. “The deal was put together very efficiently, thanks to the professionalism of all parties involved.”

The bonds are convertible into ordinary shares of HK$1 each in the share capital of Sino Land at an initial conversion price of HK$9.225.

The manager also has the option to purchase an additional HK$500 million worth of convertible bonds under an over-allotment option.

The bond issue will raise immediate net funds of HK$1.96 billion (assuming the option is not exercised) for Sino Land and will enhance the financing flexibility of the company.

The manager was represented by Linklaters.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Bakers lands China bond issue
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Warning
Aug 23 2017
NT Law Society sounds alarm on mandatory sentencing
The Law Society Northern Territory has issued a warning over mandatory sentencing, saying it hasn’...
Unite
Aug 22 2017
Professionals unite in support of marriage equality
The presidents of representative bodies for solicitors, barristers and doctors in NSW have come toge...
Aug 21 2017
Is your firm on the right track for gig economy gains?
Promoted by The way we do business, where we work, how we engage with workers, even how we take a...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...