PRC drug maker issues CBs on the Singapore Exchange
November 30, 2011 | BY
clpstaff &clp articlesChina-based pharmaceuticals company The United Laboratories International Holdings (United Laboratories) issued Rmb790 million (US$123.84 million) US-dollar…
China-based pharmaceuticals company The United Laboratories International Holdings (United Laboratories) issued Rmb790 million (US$123.84 million) US-dollar settled 7.5% convertible bonds (CBs) due 2016. The CBs are listed on the Singapore Stock Exchange and have an additional upsize option of Rmb200 million).
The issuer manufactures and sells antibiotics, bulk medicine and intermediate products used to produce the medicine. The lead manager of the offering was HSBC.
United Laboratories was advised by a Hong Kong-based Clifford Chance team led by Connie Heng and Anthony Oakes. The issuer's PRC counsel was Kaiwen Law Firm and its Cayman Islands counsel was Conyers Dill & Pearman. Linklaters acted as UK law advisor to HSBC and Jingtian & Gongcheng Law Firm served as the lead manager's PRC counsel.
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