Paul Hastings, a leading global law firm, announced today that it represented Haitong International Securities Group Limited (“Haitong International”), a subsidiary of Haitong Securities Co., Ltd., the second largest securities firm in China by total assets, in its issuance of HK$776 million 1.25% convertible bonds due 2018. HSBC acted as the sole global coordinator, bookrunner and lead manager on the transaction.

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Davis Polk advised Bestgain Real Estate Lyra Limited, a wholly owned subsidiary of China Vanke Co., Ltd. (China Vanke), in connection with its establishment of a $2 billion medium-term note program. The notes to be issued under the program will be guaranteed by China Vanke’s wholly owned subsidiary Vanke Real Estate (Hong Kong) Company Limited and supported by a keepwell deed and an equity purchase undertaking from China Vanke.

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Davis Polk is advising Baidu Holdings Limited in connection with its $1.9 billion acquisition of 91 Wireless Websoft Limited. The memorandum of understanding for the transaction was signed on July 15, 2013. The transaction is subject to the conclusion of definitive documentation, which are expected to be signed by August 14, 2013.

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Global legal practice Norton Rose Fulbright has advised The Hongkong and Shanghai Banking Corporation Limited (“HSBC”) as facility agent and the Mandated Lead Arrangers in relation to a US$101.8 million equivalent  dual currency syndicated term facility to HKSE-listed PRC property developer, Yuzhou Properties Company Limited (the “Borrower”), dated 30 April 2013. The Mandated Lead Arrangers were Hang Seng Bank Limited, HSBC, Tai Fung Bank Limited, The Bank of East Asia, Limited, Luso International Banking Limited and China Guangfa Bank Co., Ltd., Macau Branch.

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Ashurst has advised Macquarie Investment Management, part of the Macquarie Funds Group, on its agreement to acquire ING Investment Management Korea from ING Group (“ING”). Completion of the acquisition is subject to certain closing conditions including regulatory approval.

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Ashurst acted for Lai’s Holdings (LHL), the founding shareholder of Kadokawa Intercontinental Group Holdings Limited (KIGH), on the proposed sale of the KIGH Group to Hong Kong-listed companies within the Lai Sun Group. eSun will acquire an 85 per cent. stake in the KIGH Group and Lai Sun will acquire a 100 per cent. stake in the properties currently held by the KIGH Group. As part of this transaction, Toyko-listed shareholder Kadokawa Corporation will sell all its stake in KIGH Group to the same buyers.  The total consideration involved is about HK$342 million.  LHL will remain a minority shareholder of the KIGH Group after closing.

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Simpson Thacher recently represented J.P. Morgan in connection with the offering by Fubon Financial Holding Co., Ltd. (“Fubon”) of US$850 million global depositary shares. Fubon is a leading financial holding company in Taiwan and its common shares are traded on the Taiwan Stock Exchange under the trading code “2881”. The global depositary shares are listed on the Luxembourg Stock Exchange. This transaction was the largest equity offering by a Taiwanese company since the financial crisis in 2008.

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Baker & McKenzie acted as REIT trustee’s counsel for the initial public offering and listing of New Century Real Estate Investment Trust (“New Century REIT”) on 10 July 2013. New Century REIT, which will initially hold five premium hotels across regional central cities in China, is the first China hotel focused REIT to be listed on the Hong Kong Stock Exchange.

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Paul Hastings, a leading global law firm, announced today that it represented Morgan Stanley Asia Limited, Standard Chartered Securities (Hong Kong) Limited, BOCI Asia Limited, BOCOM International Securities Limited, CCB International Capital Limited, China Galaxy International Securities (Hong Kong) Co., Limited and Haitong International Securities Company Limited as the underwriters in the US$87 million global offering and Hong Kong IPO of New Century Real Estate Investment Trust (“New Century REIT”).

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The global law firm Jones Day has announced that Michelle Taylor and her team have joined the Firm’s Banking & Finance Practice.  Formerly Asia Managing Partner and China Office Leader with Orrick, Michelle will be based in the Firm’s Hong Kong Office.

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