Practice Areas - Debt Capital Markets Law Firms and Lawyers
| Deal Date: | 03-05-2013 | Practice Area: | Debt Capital Markets |
| Deal Title: | Sinochem Hong Kong Subordinated Guaranteed Capital Securities | Industry: | Chemicals |
| Description: |
Harneys acted as BVI counsel to Sinochem Hong Kong (Group) Company Limited (Sinochem) on the issue of a hybrid USD600million subordinated guaranteed perpetual capital securities through a BVI incorporated special purpose vehicle Sinochem Global Capital Co., Ltd. The Securities are guaranteed by Sinochem and are listed on the Hong Kong Stock Exchange (Stock Code: 5935).
Sinochem is the fourth largest national oil company and is a wholly-owned subsidiary of Sinochem Group, one of the key PRC state-owned enterprise. The proceeds from the Securities, after deducting the issuance related expenses, will be advanced to Sinochem and used for working capital, refinancing of short term loans, capital expenditures and other general corporate purposes.
Citigroup and UBS AG were the joint global coordinators on this transaction.
Partner Colin Riegels and senior associate Monica Chu from Harneys Hong Kong advised on this transaction.
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| Financial Center: | British Virgin Islands | Value: | 500.01-1000.00 |
| Advised Party: | Issuer | Law Firm | Harney Westwood & Riegels |
| Issuer Jurisdiction | British Virgin Islands | Listing Jurisdiction | United States |
| Classification: |
Corporate Bonds Senior Debt |
Lawyer | Colin Riegels |
