Clifford Chance

Clifford Chance advises China Cinda on the first dim sum bond from a Chinese asset management company

Leading international law firm Clifford Chance has advised China Cinda Asset Management Company Limited on the issue by its a wholly-owned subsidiary, Bitronic Limited, of RMB2 billion 4% bonds due 2015.

The deal marks the first renminbi bond issued by a Chinese asset management company and was the largest unrated dim sum bond from a Chinese state-owned enterprise this year.

"We were very pleased to assist China Cinda on this deal," said Partner Connie Heng, who led the team. "This could be the first of many more dim sum bonds from a Chinese AMC to come in the future."

Connie was assisted by senior associate Angela Chan, associates Vincent Wang and Siu Fang Ng, and legal assistant Ambroise Ng.

Standard Chartered Bank (Hong Kong), UBS and Wing Lung Bank were joint global co-ordinators and joint bookrunners, and are also lead managers with ABC International, Bank of China (HK), BOC International, CCB International, Cinda International Securities, CITIC Securities International, Credit Suisse, Goldman Sachs (Asia) and Morgan Stanley.