29 April 2021
Baker McKenzie acted as English law counsel to the joint lead managers on the issuance of USD 260 million, 3.1% guaranteed bonds due 2026 by AVIC Automotive Systems Holdings Co., Limited ("AVIC Automotive Systems").
China International Capital Corporation, China Securities International, Shanghai Pudong Development Bank Hong Kong Branch and Guosen Securities (HK), were the joint global coordinators.
China International Capital Corporation, China Securities International, Shanghai Pudong Development Bank Hong Kong branch, Guosen Securities (HK), China Construction Bank (Asia), BOCOM International, Guotai Junan International, Haitong International, CEB International, China Minsheng Banking Corp., Ltd., Hong Kong branch and CMBC Capital were the joint lead managers and joint bookrunners for the transaction.
AVIC Automotive Systems mainly focuses on auto parts manufacturing. The Company has developed six main business segments: steering systems, sealing products, aviation products, thermal management systems, automotive electrical appliances, and automotive body structures.
The Baker McKenzie team was led by Partner Hang Wang (Beijing) and Senior Counsel Bing Han of Baker McKenzie FenXun Joint Operation (Beijing), with support from Local Principal Xavier Amadei of Baker McKenzie Wong & Leow (Singapore), Special Counsel Shanshan Xu (Shanghai) and Associate Phoebe Wang (Shanghai).
Commenting on the deal, Hang Wang said, "We are pleased to have been able to bring the deal to a successful close for our clients. With the COVID-19 pandemic likely to keep bonds issuance buoyant in the near term, we look forward to continue supporting our clients with their future transactional needs."
For further information, please contact:
Jamie Kar, Senior Communication Manager, Baker & McKenzie
