Hong Kong: Global law firm Clifford Chance has advised on the fi…

Hong Kong: Global law firm Clifford Chance has advised on the first-ever RMB retail bond issue in Hong Kong.

The firm acted for HSBC and Bank of China as joint lead managers and bookrunners on a RMB5 billion international bond issue by China Development Bank, comprising RMB2.5 billion institutional and RMB2.5 billion retail bond issues.

This deal represented the inaugural RMB bond issue by a mainland financial institution in the Hong Kong Special Administrative Region, an offer available to both retail and institutional
investors.

Partner Connie Heng led the Clifford Chance team advising on the deal:
“We are delighted to have been involved in this groundbreaking bond issue deal. It represented a significant and exciting milestone in the development of both the PRC Mainland and Hong
Kong SAR bond markets, and coincided with the 10th anniversary of Hong Kong’s reunification with the Mainland.”

The Clifford Chance team consisted of Connie Heng, Tony Oakes (consultant) and associates Tracy Kung and Eleanor Chan, all based in Hong Kong.

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