Practice Areas - Debt Capital Markets Law Firms and Lawyers
| Deal Date: | 17-06-2014 | Practice Area: | Debt Capital Markets |
| Deal Title: | China Merchants Bank Offering of Notes due 2017 | Industry: | Banks |
| Description: |
Herbert Smith Freehills has advised China Merchants Bank Co. Ltd. Hong Kong Branch on the establishment of its USD5 billion Medium Term Note (MTN) program and the first drawdown of USD500 million.
The MTN program was established on 28 May 2014 and the Hong Kong Stock Exchange listing of the notes became effective on 13 June 2014. China Merchants Bank offered USD500 million principal amount of notes, with a 2.375% coupon, which will mature in 2017.The proceeds will be used for working capital and general corporate purposes.
BofA Merrill Lynch, HSBC and Standard Chartered Bank were the arrangers for the MTN programme, and also the underwriters of the first drawdown together with BNP Paribas, Citigroup, JP Morgan and Wing Lung Bank Limited.
The Herbert Smith Freehills team on the transaction was led by Hong Kong partner Kevin Roy and Beijing Office Head and Relationship Partner, who were supported by counsel Wang Zhong and associate Isaac Chen.
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| Financial Center: | Hong Kong | Value: | 100.01-500.00 |
| Advised Party: | Issuer | Law Firm | Herbert Smith Freehills |
| Issuer Jurisdiction | China | Listing Jurisdiction | Hong Kong |
| Classification: |
Corporate Bonds Senior Debt |
Lawyer | Kevin Roy |
