Linklaters advised the sole lead manager on the issuance of HK$7.75bn exchangeable bonds by China Petrochemical Corporation (Sinopec Group) listed on the Stock Exchange of Hong Kong Limited, with H shares of China Petroleum & Chemical Corporation as the underlying shares.
The transaction is one of the largest exchangeable bonds issued by a Chinese issuer in recent years, involving innovative structuring elements to deliver an efficient financing solution for Sinopec Group. The proceeds from the transactions will be used to refinance existing offshore indebtedness.
Linklaters advised on the structuring and execution of the exchangeable bond – highlighting the firm’s market leading expertise in the equity-linked space and continued involvement in the largest and most high-profile equity-linked transactions in the Asia Pacific region. The cross-practice team was led by capital markets partners Hanwen Yu, Taiki Ki and Min Fang, with support from solicitors Lily Wang and Jun Tang. Financial regulation partner Carl Fernandes, corporate partners Roger Cheng and Donnelly Chan, and litigation, arbitration & investigations counsel Michael Lamson provided specialist support on the transaction.
About Linklaters LLP
Linklaters LLP is a leading global law firm, advising the world’s leading companies, financial institutions and governments on their most important and challenging transactions and assignments. We combine legal expertise with a collaborative and commercial approach to help clients navigate constantly evolving markets and regulatory environments, pursuing opportunities and managing risk worldwide. With offices in major business and financial centres, we deliver an outstanding service to our clients anywhere in the world. Our 3,100 + lawyers, located across 31 offices in 21 countries, specialise in industry sectors as well as practice areas across three divisions: Corporate; Litigation, Arbitration and Investigations; and Finance.
