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Clifford Chance advises on two successful bond offerings

11 April 2012

Clifford Chance advises on two successful bond offerings

Leading international law firm Clifford Chance has advised on two separate bond offerings, Shangri-La Asia's US$600 million five-year notes and Vincom's US$185 million convertible bond.

In the first transaction, Clifford Chance advised Hong Kong listed hotel owner and operator, Shangri-La Asia Ltd on its US$600 million 4.75% five-year notes issuance. The deal was led by partner Connie Heng and assisted by senior associate Linda Cheng and associate Michael Weaver.

In the second transaction, Clifford Chance advised Vincom Joint Stock Company, the largest property developer in Vietnam, on its US$185 million 5% five-year convertible bonds (with an upsize option to US$250 million). This is the second time that Clifford Chance has advised Vincom on its issuance of convertible bonds (having previously advised Vincom on its inaugural CB issuance in 2009). The transaction was led by partners Crawford Brickley and Connie Heng, who were assisted by associates Hosea Chang, Angela Chan, Heesug Chung, Pui-Yee Lai and Daniel Ham.

"We are seeing solid investor demand for Asian debt issuances, both rated and unrated, signalling increased confidence by the investment community," said Crawford Brickley, partner and Head of Capital Markets, Asia Pacific. "The Real Estate and Hospitality sectors, in common with many other industrial sectors in Asia, is certainly taking advantage of this bullish mood to opportunistically tap the market for debt fundraisings."