Jun 24, 2015
Cadwalader, Wickersham & Taft LLP, a leading law firm to global corporations and financial institutions, has successfully advised UBS AG and HSBC Bank plc as underwriters on the inaugural CHF250 million bond offering by Sinochem Offshore Capital Company Limited. The issuance of 0.76% notes due 2022 is guaranteed by Sinochem Hong Kong Group Company Limited (“Sinochem”) under its medium term note programme established in 2014. The transaction was completed on 17 June 2015.
This deal represents two market firsts. It is the first-ever Swiss Franc bond offering by a Chinese corporate issuer, and also the first CHF corporate bond issuance in the emerging markets globally since November 2014. The Notes were provisionally admitted to trading on the SIX Swiss Exchange and offered to the public in Switzerland solely. Restrictions apply to trades outside Switzerland.
Sinochem Offshore Capital Company Limited is based in Hong Kong and operates as Sinochem’s SPV for note offerings under its MTN programme.
“We are delighted to have been involved in this debut transaction which sets a precedent for Chinese corporations to start to tap into the Swiss capital markets,” comments corporate and capital markets partner Rose Zhu who led the transaction.
The cross-border Cadwalader team led by Beijing corporate and capital markets partner Rose Zhu and Hong Kong capital markets associate John Kim, with London capital markets partners Angus Duncan and Nick Shiren, and tax partner Adam Blakemore, advised the underwriters on English law aspects of the transaction.
Cadwalader has been advising clients in China and across the region for over a decade, providing premier legal services to leading U.S., U.K. and European financial institutions and multinational companies doing business and investing in Asia. Cadwalader also serves China-based entities in their international business activities and investments into the U.S. and throughout the world.
凯威莱德的跨境团队由驻北京办事处的公司及资本市场事务部合伙人朱文红律师、驻香港办事处的资本市场事务部的金基贤律师带领；同时，驻伦敦办事处的资本市场事务部合伙人Angus Duncan、Nick Shiren以及税务部合伙人Adam Blakemore就交易的英国法律方面事宜为承销商提供法律意见。
Scott Cammarn, Mark Chorazak, Jonathan Watkins,Chris Gavin, Joseph Beach, Peter Morreale
Richard Brand, Stephen Fraidin, Jonathan Watkins, James Fee
Michele Maman, Thomas Curtin, Anthony De Leo, Donny Ariel
Jeffrey Rotblat will discuss "Accumulation/Aggregation/Alternative Exit Strategies" at this event.