Sidley Austin Brown & Wood has acted as international counsel in relation to a US$310 million convertible bond offering by China Development Financial Holding Corporation Limited (CDFH), a Taiwan-based financial holding company. The transaction, which is CDFH’s second international convertible bond offering, was completed on September 15, 2003.
Sidley’s Hong Kong-based corporate finance team, which included partner Matthew Sheridan and associates Jason Kuo and Jason Elder, acted as New York counsel to JP Morgan, as global coordinator. The zero coupon convertible notes are being listed on the Luxembourg Stock Exchange and offered globally outside the United States pursuant to Regulation S.
Mr. Sheridan explains: “Having advised CDFH on its first international offering last June, we were pleased to be appointed as international counsel in this offering.” He added: “Sidley’s regional capabilities in U.S., U.K. and Hong Kong securities law have enabled us to effectively represent both issuers and managers across the region in international offerings of this kind.”