Legal DealFolio - Volkswagen RMB Bond Issuance

The international law firm Clifford Chance advised a banking consortium consisting of Bank of China, HSBC and Standard Chartered Bank on the issuing of a bond denominated in Chinese Yuan Renminbi (RMB) of Volkswagen International Finance N.V., secured by Volkswagen Aktiengesellschaft. The volume of the bond amounts to 1.5 billion RMB (approx. 160 million EUR). The bond is subject to an interest rate of 2.15% p.a. and its term lasts five years. This is the first bond issued in RMB by a German company and one of the first issued by a European company. Clifford Chance regularly advises clients in the rapidly growing dim sum bond market, i.e. on RMB bonds which are placed in Hong Kong, but not in China. The Clifford Chance team included partner Sebastian Maerker and associates Robert Koller and Felix Biedermann (Banking & Capital Markets, Frankfurt) as well as partners Matthew Fairclough and Connie Heng and associate Mark Chan (Capital Markets, Hong Kong).

Deal Date:	25-05-2011	Practice Area:	Debt Capital Markets
Deal Title:	Volkswagen RMB Bond Issuance	Industry:	Automobiles & Parts
Description:	The international law firm Clifford Chance advised a banking consortium consisting of Bank of China, HSBC and Standard Chartered Bank on the issuing of a bond denominated in Chinese Yuan Renminbi (RMB) of Volkswagen International Finance N.V., secured by Volkswagen Aktiengesellschaft. The volume of the bond amounts to 1.5 billion RMB (approx. 160 million EUR). The bond is subject to an interest rate of 2.15% p.a. and its term lasts five years. This is the first bond issued in RMB by a German company and one of the first issued by a European company. Clifford Chance regularly advises clients in the rapidly growing dim sum bond market, i.e. on RMB bonds which are placed in Hong Kong, but not in China. The Clifford Chance team included partner Sebastian Maerker and associates Robert Koller and Felix Biedermann (Banking & Capital Markets, Frankfurt) as well as partners Matthew Fairclough and Connie Heng and associate Mark Chan (Capital Markets, Hong Kong).
Financial Center:	Frankfurt	Value:	0.00-100.00
Advised Party:	Lead Manager	Law Firm	Clifford Chance
Issuer Jurisdiction	Germany	Listing Jurisdiction	Hong Kong
Classification:	Corporate Bonds Senior Debt	Lawyer	Sebastian Maerker

Practice Areas -

Debt Capital Markets Law Firms and Lawyers

Practice Areas - Debt Capital Markets Law Firms and Lawyers