Mayer Brown, a leading global law firm, announced today that it advised China International Marine Containers (Hong Kong) Limited (CIMC), part of the largest container manufacturing group in the world, on the establishment of a $600 million US commercial paper program supported by a letter of credit from Bank of China, New York Branch. The transaction marks one of the first letter of credit backed US commercial paper programs by an Asian issuer. Bank of America Merrill Lynch acted as structuring advisor and arranger.
The Mayer Brown team was led by Corporate & Securities partner David Bakst (New York), and included: Corporate & Securities – associate Jonathan Bernstein (New York); Banking & Finance – partner Ben Sandstad and associate Ian Kwong (both Hong Kong), and associates Thanos Panagopoulos and Sandy Zhang (both New York); Tax Transactions & Consulting – partner Jason Bazar and associate Maurice Worsley (both New York); Restructuring, Bankruptcy & Insolvency – counsel Richard Ziegler (New York) and Financial Services Regulatory & Enforcement – partner David Sahr (New York).
