Starting news article english 3 December 2012

Clifford Chance advises HKEx on two transactions to help fund its purchase of London Metal Exchange

Leading international law firm Clifford Chance has advised Hong Kong Exchanges and Clearing Limited (HKEx) on two transactions to help fund its purchase of the London Metal Exchange (LME).

First, the firm advised on its nearly US$1 billion equity placing. Deutsche Bank, HSBC and UBS were the placing agents.

Partner Cherry Chan who led the team said, "We are very delighted to have been given the opportunity to work with the HKEx on this successful placing exercise."

Cherry was assisted by associates Kenneth Kwan and Au Yeong Wai Mun and legal assistant Liu Dandan.

Second, the Firm advised on its US$500 million 0.50% convertible bonds due 2017. Deutsche Bank, HSBC and UBS were the lead managers on the deal. The convertible bonds were listed on the Hong Kong Stock Exchange on 24 October 2012. 

"This transaction was HKEx's first capital fund raising and a rare transaction globally in the industry. We were very pleased to be a part of it." said partner Connie Heng who led the team on this deal.

Connie was assisted by associates Angela Chan, Helen Fok and Michael Weaver. US securities law advice on both transactions were provided by partner Crawford Brickley, consultant Thomas Kollar and associates Naveen Pogula and Bertrand Law.