The 8.000% senior secured notes due in 2020 were offered to qualified institutional buyers in the United States under Rule 144A and certain persons outside the United States under Regulation S. Proceeds from the bonds were used to partially refinance existing high yield notes on issue, to repay a portion of their shareholder loans and for general corporate purposes. King & Wood Mallesons acted for CML on its original issuance in 2011.
The KWM team was led by Partner Nathan Collins with support from Partners Nigel Hunt, Shaun McRobert and Scott Heezen, Senior Associate Michelle Dean and Solicitors, Marcus Wettenhall and Matthew Cowcher. This is the fourth high yield notes issue Nathan has led on in recent years.
KWM also acted as Hong Kong counsel to CML with a team led by Partner Richard Mazzochi.
KWM acted as an integrated team with Cleary Gottlieb Steen & Hamilton who advised CML on all aspects of English, New York and Belgian law, Bentsi-Enchill, Letsa & Ankomah on Ghanaian law and Ogier as to Jersey and British Virgin Islands law.
Deutsche Bank AG, London Branch was the initial purchaser of the notes.
