Clifford Chance

Clifford Chance advises on RMB2.5 billion bond issuances

Hong Kong: Leading international law firm Clifford Chance has advised on two RMB-denominated bond issuances totalling RMB2.5 billion in the last month. These include:

• the joint lead managers and bookrunners on the issue of RMB1 billion 3.35 per cent bonds due 2017 by China Development Bank Corporation. Joint lead managers and bookrunners include CIMB Bank Limited, Barclays Bank PLC, Industrial and Commercial Bank of China Limited, Singapore Branch, and Bank of Communications Co., Ltd, Hong Kong Branch.
• the joint lead managers and bookrunners on the issue of RMB1.5 billion 4.125 per cent bonds due 2017 by China CITIC Bank Corporation Limited. Joint lead managers and bookrunners include The Hongkong and Shanghai Banking Corporation Limited, Banco Bilbao Vizcaya Argentaria, S.A., CITIC Securities Corporate Finance (HK) Limited, China CITIC Bank International Limited and Mizuho Securities Asia Limited.

Capital Markets partner Connie Heng who led the transactions comments, "We are pleased to support the issuance of further dim sum bonds. Despite exchange rate volatility, there continues to be confidence in offshore RMB bond issues and interest in the internationalisation of the RMB."

The Clifford Chance team comprised Capital Markets partner Connie Heng, counsel Angela Chan, and associates Louis Lim, Lin Li and Ambroise Ng in Hong Kong.