Hong Kong May 18, 2007 LAWFUEL – The Law Firm News Wire – The i…

Hong Kong May 18, 2007 LAWFUEL – The Law Firm News Wire – The international law firm Jones Day today announced that it advised Hong Kong listed CITIC Resources Holdings Limited in a US$1 billion global offering of 6.75% senior notes issued by its subsidiary, CITIC Resources Finance (2007) Limited, and guaranteed by CITIC Resources.

The sale of the seven-year notes, one of the largest ever offerings of high yield notes by an Asian issuer, was managed by Bear Stearns and Morgan Stanley and included offerings in the United States pursuant to Rule 144A and outside the U.S. under Regulation S.

Jones Day acted as United States and Hong Kong counsel to the issuer and the guarantor. The US team, based in Hong Kong, was led by David Neuville, a partner in Jones Day’s capital markets practice. The Hong Kong team was led by Barbara Mok, partner in charge of Jones Day’s Hong Kong office.

CITIC Resources, whose principal activities are in the sectors of oil, aluminum, coal, import and export of commodities, manganese and iron ore, will use the proceeds to acquire, subject to satisfaction of certain conditions, a controlling interest in a Kazakhstan oilfield from CITIC Group, CITIC Resources’ parent company. Jones Day is also acting as Hong Kong counsel for CITIC Resources in the acquisition.

“It was a great pleasure to represent CITIC Resources in this transaction, which we understand to have been one of the largest, if not the largest, offerings of high yield notes by an issuer based in Asia,” Mr. Neuville said.

“Transaction timing milestones created a number of issues and we were fortunate to be able to maximize efficiency by using an integrated team of U.S. and Hong Kong lawyers to meet the requirements of our client and of the transaction. This was a significant transaction for all parties involved.”

Jones Day is an international law firm with 30 locations in centers of business and finance throughout the world. With more than 2,200 lawyers, including more than 400 in Europe, and 200 in Asia, Jones Day ranks among the world’s largest law firms. Jones Day acts as principal outside counsel to, or provides significant legal representation for, more than half of the Fortune Global 500 companies.

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