Practice Areas - Debt Capital Markets Law Firms and Lawyers
Deal Date: | 25-05-2011 | Practice Area: | Debt Capital Markets |
Deal Title: | Volkswagen RMB Bond Issuance | Industry: | Automobiles & Parts |
Description: |
The international law firm Clifford Chance advised a banking consortium consisting of Bank of China, HSBC and Standard Chartered Bank on the issuing of a bond denominated in Chinese Yuan Renminbi (RMB) of Volkswagen International Finance N.V., secured by Volkswagen Aktiengesellschaft.
The volume of the bond amounts to 1.5 billion RMB (approx. 160 million EUR). The bond is subject to an interest rate of 2.15% p.a. and its term lasts five years. This is the first bond issued in RMB by a German company and one of the first issued by a European company.
Clifford Chance regularly advises clients in the rapidly growing dim sum bond market, i.e. on RMB bonds which are placed in Hong Kong, but not in China.
The Clifford Chance team included partner Sebastian Maerker and associates Robert Koller and Felix Biedermann (Banking & Capital Markets, Frankfurt) as well as partners Matthew Fairclough and Connie Heng and associate Mark Chan (Capital Markets, Hong Kong).
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Financial Center: | Frankfurt | Value: | 0.00-100.00 |
Advised Party: | Lead Manager | Law Firm | Clifford Chance |
Issuer Jurisdiction | Germany | Listing Jurisdiction | Hong Kong |
Classification: |
Corporate Bonds Senior Debt |
Lawyer | Sebastian Maerker |