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Clifford Chance advises on Lenovo's landmark inaugural green bond issuance, part of a dual tranche offering and liability management exercise

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9 August 2022

Clifford Chance advises on Lenovo's landmark inaugural green bond issuance, part of a dual tranche offering and liability management exercise

Leading international law firm Clifford Chance has advised BNP Paribas, Citi, Credit Suisse, DBS, Goldman Sachs, HSBC, JPMorgan and Morgan Stanley as joint global co-ordinators, together with a syndicate of joint lead managers and joint bookrunners [1] on a US$1.25 billion dual tranche Rule 144A/Reg S bond offering for Lenovo Group Limited, and as dealer managers on a capped tender offer for US$750 million of existing 4.75% notes due 2023. The offering included a US$625 million green tranche due 2032.

The offering was Lenovo's inaugural offering of green bonds under its new Green Finance Framework.

Partner Alan Yeung said, "We are proud to work with some of our leading bank clients and the Lenovo team on this transaction and to work on another landmark transaction in the ESG space. The global markets, including Asia, continue to show strong support for ESG financing, leading to the success of this deal."

Partner Matt Fairclough added, "We have a market-leading ESG capability here at Clifford Chance, and we were delighted to work on another transaction leveraging on our track record of deals in this space in Asia and more widely."

The deal was led by partners Matt Fairclough and Alan Yeung, supported by senior associate Jeffery Hung in London and associates Elaine Du and Sammi Liu in Hong Kong.

Clifford Chance has a prominent track record advising on landmark debt capital markets transactions including New World Development's dual tranche green perpetual bond and social bond, Bank of China (Hong Kong) and HSBC on world’s largest retail green bond issuance by the HKSAR Government and South East Asia’s first public sustainability-linked bond issuance.

[1] Bank of China, Bank of Communications, China Construction Bank (Asia), Mizuho Securities and Santander

高伟绅助力联想集团双年期发行和负债管理活动中具有里程碑意义的首次绿色债券发行

国际领先律师事务所高伟绅就联想集团有限公司的12.5亿美元双年期144A/S条例债券发行,以及现有2023年到期4.75%票据的有上限要约收购,为担任联席全球协调人的法国巴黎银行、花旗集团、瑞士信贷、星展银行有限公司、高盛、汇丰银行、摩根大通和摩根士丹利,以及联席牵头经办人和联席账簿管理人银团[1]提供法律服务。此次发行包括2032年到期的6.25亿美元绿色债券。

此次发行是联想在新的绿色融资框架下首次发行绿色债券。

合伙人杨逸龙表示:"我们倍感自豪能与领先的银行客户和联想团队合作完成这项交易,这也是我们又一次参与ESG领域的‘开创性’交易。亚洲市场对ESG融资的持续强有力支持促成了此项交易。"

合伙人Matt Fairclough进一步表示:" 高伟绅律师事务所拥有市场领先的ESG业务实力,我们很高兴能够在此次交易中发挥我们在亚洲以及更广泛的领域的专长和经验。"

本次交易由合伙人杨逸龙和Matt Fairclough领导,团队成员包括孔靖、杜伊然及廖卓莹。

高伟绅在为具有里程碑意义的债务资本市场交易提供法律服务方面业绩斐然,包括助力新世界发展发行社会责任及绿色双重债券,就香港特区政府发行世界上规模最大的零售绿色债券为中银香港和汇丰银行提供法律服务,以及就东南亚首次公开发行与可持续发展挂钩的债券提供法律服务。

注释:[1] 中国银行, 交通银行, 中国建设银行(亚洲), 瑞穗证券和桑坦德。