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Hong Kong – Baker & McKenzie Advises Cheung Kong On Issuance of USD500m Guaranteed Senior Perpetual Securities.

28 January, 2013

 

Baker & McKenzie recently advised Cheung Kong (Holdings) Limited
and its wholly-owned subsidiary, Cheung Kong Bond Securities (03) Limited ("CKBS"), on the issue and offering by CKBS of US$500 million 5.375% guaranteed senior perpetual securities, which are denominated in United States dollars. The securities are guaranteed by Cheung Kong (Holdings) Limited and are listed on the Main Board of the Hong Kong Stock Exchange.

 

The securities are perpetuals with no fixed redemption date, and the securities carry coupon deferral features. Barclays and BofA Merrill Lynch acted as the lead managers and bookrunners.

 

The Baker & McKenzie team was led by corporate partner Milton Cheng and finance partner Andrew Lockhart. The team also included special counsel Edwin Li and associates Christopher Shen and Erica Jiang. 

 

Commenting on the transaction, Andrew Lockhart said, “We are delighted to have had the opportunity to assist Cheung Kong, a long-standing client of our Firm, on another significant debt capital markets transaction.”

 

For further information, please contact:

 

Jamie Kar, Baker & McKenzie
[email protected]

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