Baker McKenzie advised China Railway Construction Corporation Limited (CRCC), one of the world's largest integrated construction enterprises, on the offering of its dual tranche notes for a combined net value of more than USD 660 million.
The offering consisted of USD 300 million 1.875% guaranteed notes due 2026 and EUR 300 million 0.875% guaranteed notes due 2026. The notes were issued by CRCC Hean Limited, an indirect wholly owned subsidiary of CRCC, and guaranteed by CRCC. Proceeds from the new notes issuance will be used to repay debts due and replenish working capital for overseas construction projects.
The Baker McKenzie team was led by Partner Hang Wang of Baker McKenzie (Beijing) and Counsel Bing Han of FenXun Partners (Beijing), with support from Local Principal Xavier Amadei of Baker McKenzie Wong & Leow (Singapore), Special Counsel Rachel Wang (Hong Kong) and Associates Phoebe Wang (Shanghai) and Adriana Chiu (Hong Kong).
Commenting on the deal, Hang Wang said, "We are delighted to have been able to bring our strong debt capital markets capabilities to the table and advise our long-term client on this significant transaction."
ICBC, Bank of China (Hong Kong), DBS Bank Ltd. and BNP PARIBAS acted as Joint Global Coordinators, Joint Lead Managers and Joint Bookrunners for the transaction. CCB International, ABC International, BOCOM International, CLSA and Société Générale acted as Joint Lead Managers and Joint Bookrunners.