Chinese property company issues convertible bonds
June 01, 2011 | BY
clpstaff &clp articlesPRC property investment company, Mingfa Group, has raised US$200 million from its issuance of convertible bonds. The bonds have a five-year maturity date…
PRC property investment company, Mingfa Group, has raised US$200 million from its issuance of convertible bonds. The bonds have a five-year maturity date and will bear interest at a rate of 5.25% per year payable semi-annually in arrears.
The issuer has a number of development properties in Xiamen, Nanjing and other cities in China. The joint lead managers in the transaction were HSBC and Morgan Stanley.
Advising Mingfa Group on Hong Kong law and US law was a Hong Kong-based Paul Hastings Janofsky & Walker team led by Vivian Lam and Jenny Lau. Clifford Chance served as UK and US counsel to the joint lead managers and the trustee, and Commerce & Finance Law Offices advised the joint lead managers on PRC law. Cayman Islands law counsel to the issuer was Conyers Dill & Pearman
This premium content is reserved for
China Law & Practice Subscribers.
A Premium Subscription Provides:
- A database of over 3,000 essential documents including key PRC legislation translated into English
- A choice of newsletters to alert you to changes affecting your business including sector specific updates
- Premium access to the mobile optimized site for timely analysis that guides you through China's ever-changing business environment
Already a subscriber? Log In Now