Baker McKenzie is advising China Ruyi Holdings Limited (Stock code: 136) on the issuance of HK$2.57 billion (approximately US$330 million) zero coupon convertible bonds, due 2027, with a conversion premium of approximately 15% over its closing price of the last trading day before the signing of the subscription agreement.
The proceeds from the bond issuance will be used by the group for strategic investments and acquisitions in its gaming and streaming businesses, as well as for general working capital purposes. Please refer to the company's announcement for further details about the deal.
The deal team, composed of lawyers from Baker McKenzie and Fen Xun*. The core team members include Capital Markets Partners Christina Lee and Brian Wong, and associate Jason Wong, with support from Partner James Tanner (London), Associate Robin Weng and Trainee Solicitor Jayden Kan.
Deutsche Bank AG, Hong Kong Branch, is the sole lead manager in this deal.
Baker McKenzie is one of the leading firms for complex transactions, providing strategic advice on deals involving the world's leading financial institutions and multinational companies. Over the past three years, Baker McKenzie have helped clients raise capital across more than 40 stock exchanges world-wide. With many of its lawyers enjoying established working relationships with local regulators in Hong Kong and other key markets, the Firm is able to guide clients through all stages of the process, providing valuable insights on regulatory developments that could impact the value and feasibility of cross-border transactions, as well as on ongoing compliance issues. The team also assists listed companies in the restructuring of shareholdings, use of stock as consideration, and block trades. Moreover, the team has extensive experience in advising clients on cross-border capital fundraising under different schemes, including the Shanghai-London Stock Connect and the China-Switzerland Stock Connect. The Firm has been ranked for capital markets in more jurisdictions than any other by Chambers.
*Baker McKenzie established a joint operation office with FenXun in China as Baker McKenzie FenXun, approved by the Shanghai Justice Bureau in 2015.
The proceeds from the bond issuance will be used by the group for strategic investments and acquisitions in its gaming and streaming businesses, as well as for general working capital purposes. Please refer to the company's announcement for further details about the deal.
The deal team, composed of lawyers from Baker McKenzie and Fen Xun*. The core team members include Capital Markets Partners Christina Lee and Brian Wong, and associate Jason Wong, with support from Partner James Tanner (London), Associate Robin Weng and Trainee Solicitor Jayden Kan.
Deutsche Bank AG, Hong Kong Branch, is the sole lead manager in this deal.
Baker McKenzie is one of the leading firms for complex transactions, providing strategic advice on deals involving the world's leading financial institutions and multinational companies. Over the past three years, Baker McKenzie have helped clients raise capital across more than 40 stock exchanges world-wide. With many of its lawyers enjoying established working relationships with local regulators in Hong Kong and other key markets, the Firm is able to guide clients through all stages of the process, providing valuable insights on regulatory developments that could impact the value and feasibility of cross-border transactions, as well as on ongoing compliance issues. The team also assists listed companies in the restructuring of shareholdings, use of stock as consideration, and block trades. Moreover, the team has extensive experience in advising clients on cross-border capital fundraising under different schemes, including the Shanghai-London Stock Connect and the China-Switzerland Stock Connect. The Firm has been ranked for capital markets in more jurisdictions than any other by Chambers.
*Baker McKenzie established a joint operation office with FenXun in China as Baker McKenzie FenXun, approved by the Shanghai Justice Bureau in 2015.
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