Kirkland & Ellis represents Belmont Hong Kong Ltd., a wholly owned subsidiary of Beijing Wangfujing International Commercial Development Co., Ltd., in its US$654 million (HK$5,099 million) proposed acquisition of a 39.53 percent interest in, and possible conditional mandatory cash offer for all the remaining issued shares of, PCD Stores (Group) Limited (331: Hong Kong). The transaction was publicly announced on January 31, 2013.

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Global law firm Eversheds has advised New World China Land (NWCL) on a new dim sum bond issue today, raising a total of CNY 3 billion (£307 million). This is NWCL’s second dim sum bond offering after their previous successful record-making CNY 4.3 billion offering last year, which still remains the largest corporate dim sum bond issuance in history, which Eversheds also advised NWCL on.

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Leading international law firm Clifford Chance has advised Asia Outsourcing Gamma Limited, a company controlled by CVC Capital Partners, on its purchase of Philippine Long Distance Telephone Company’s (PLDT) Business Process Outsourcing (BPO) business. The purchase price was in excess of US$300 million and is expected to close in March 2013, subject to government approvals.

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Simpson Thacher represented Barclays Bank PLC, Citigroup Global Markets Limited, Deutsche Bank AG, Singapore Branch and The Royal Bank of Scotland, as initial purchasers, in connection with the offering of US$300 million 1.875% Notes due 2018 by Korea Southern Power Co., Ltd. The offering was conducted in reliance upon Regulation S under the Securities Act of 1933, as amended.

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Paul Hastings, a leading global law firm, announced today that it represented Mingfa Group (International) Company Limited (“Mingfa Group”), a leading PRC investment company focusing on property development, in its issuance of senior notes (“Notes”) in the aggregate principal amount of US$100 million, due 2018.

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Appleby acted as Bermuda and British Virgin Islands counsel for COSCO Pacific (2013) Finance Limited and COSCO Pacific Limited in relation to COSCO Pacific Finance’s note issuance in the aggregate principal amount of US$300 million due January 2023, bearing interest at the rate of 4.375% per annum and guaranteed by COSCO Pacific.

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Hogan Lovells advised the members of the ad-hoc committee of bondholders of Sino-Forest Corporation (Sino-Forest) and the newly formed entity Emerald Plantation Group Limited (NewCo) on the implementation of a Plan of Compromise and Reorganization (the Plan) which was overwhelmingly approved by the creditors and the Ontario Superior Court of Justice.

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Leading international law firm Clifford Chance has advised International Finance Corporation (IFC) on its subscription for 14.9% of the issued share capital of Peak Reinsurance Holdings at an aggregate subscription price of US$81,950,000. The firm also advised IFC on regulatory issues pertaining to the licensing requirements of the Insurance Authority of Hong Kong.

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Baker & McKenzie is the legal advisor to China Merchants Holdings (International) Company Limited (“CMHI”), the largest public port operator in China, on its strategic partnership with CMA CGM, the world’s third largest container shipping company, and its agreement to acquire 49% equity interest in Terminal Link, a wholly-owned subsidiary of the CMA CGM Group, for €400 million.

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Baker & McKenzie recently advised its long-standing client, Yuexiu Group, on two significant debt capital market transactions, namely:

• Yuexiu Property Company Limited (“Yuexiu Property”) on the establishment of its first medium term note programme (“MTN Programme”).  The size of the MTN Programme is US$2 billion.  The notes that were issued on the first drawdown amounted to US$850 million in aggregate and comprised of US$350 million 3.25% notes due 2018 and US$500 million 4.50% notes due 2023.  Bank of China (Hong Kong) Limited, BOCI Asia Limited, DBS Bank Ltd., The Hongkong and Shanghai Banking Corporation Limited and Morgan Stanley & Co. International plc acted as the joint lead arrangers for the MTN Programme.  Together with Yue Xiu Securities Limited, they acted as dealers for the first drawdown.  The notes have been rated Baa3 by Moody’s and BBB- by Fitch.
• Yue Xiu Enterprises (Holdings) Limited (“Yue Xiu Enterprises”) on its third note issuance: HK$1 billion 5.65% corporate notes due 2018.  The notes were purchased by Industrial and Commercial Bank of China (Macau) Limited and Agricultural Bank of China Limited Hong Kong Branch.  Société Générale, ICBC International and Agricultural Bank of China Limited Hong Kong Branch acted as joint lead arrangers.

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