Clifford Chance

Clifford Chance advises on Azure Orbit III bond issuances totalling US$1 billion

Leading international law firm Clifford Chance has advised Bank of Communications Co., Ltd. Hong Kong Branch, BOCOM International Securities Limited, ANZ, CICC, HSBC, J.P. Morgan and Standard Chartered Bank as the joint lead managers on the issue of US$400 million 2.125% guaranteed notes due 2019 and US$600 million 2.625% guaranteed notes due 2021 by Azure Orbit III International Finance Limited, and unconditionally and irrevocably guaranteed by Bank of Communications Co., Ltd. Macau Branch. Azure Orbit III is a subsidiary of the Bank of Communications.

Partner Connie Heng, Head of Capital Markets for Asia Pacific, led on the deal and said, "We are very pleased to have been involved in the first deal from the leasing industry this year. The company and deal teams were able to swiftly execute the transaction to capture ideal pricing and size in the current market which was instrumental to the deal's success."

Connie was supported by consultant David Tsai, and associates Ambroise Ng and Nicholas Mai.