Linklaters acted as legal adviser to the bookrunners in relation to the issuance by Zoomlion Heavy Industry Science and Technology Co., Ltd. (“Zoomlion”) of RMB 6bn US dollar settled H share convertible bonds. The transaction was successfully priced and issued, and represents to date the largest Renminbi‑denominated H share convertible bond offering, as well as the first publicly launched H share convertible bonds from an A+H listed company issued under specific mandate.
Zoomlion is a leading enterprise in China’s construction machinery industry and a representative company in the country’s modern industrial system. The successful issuance of these Renminbi‑denominated H share convertible bonds further diversifies Zoomlion’s access to the offshore capital markets. Upon full conversion of the bonds, Zoomlion’s H share capital base will be further expanded and the liquidity of its H shares will be significantly enhanced, which will help it make better use of the offshore capital markets platform, strengthen its profile among international investors and support its global development strategy.
The Linklaters team was led by corporate partner John Xu and capital markets partner Taiki Ki, with support from team members Jun Tang, Christine Liu, Yiyi Wu, Chengyi Xu and Ailuan Fang.
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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 lawyers, located across 30 offices in 20 countries, specialise in industry sectors as well as practice areas across three divisions: Corporate; Litigation, Arbitration and Investigations; and Finance.
