King & Wood Mallesons

Capital Markets (International Firms) Department

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What the team is known for Enjoys a solid reputation for its work representing a range of clients on straight debt and convertible offerings, as well as tender offers and consent solicitations. Able to advise on panda bonds, as well as euro and Singapore dollar-denominated offerings. Also enjoys a growing reputation for representing Chinese issuers on high-yield work. Additionally the team remains active on major Hong Kong IPOs. Integrated group that is able to provide US, UK, PRC and Hong Kong law advice. Particularly strong reputation on PRC-related matters due to its network of offices there.

Strengths A client asserts that the team is "particularly good at managing Chinese clients' expectations and educating first-time issuers on international capital markets best practices and standards," before going on to add: "It is also very involved in managing the transaction process, including the drafting of the transaction documents and coordinating with other parties."

Another client states: "High-yield is a specialised product that the team has particular strength in; it has the speciality, the expertise and the language advantage."

Work highlights Advised CGN on the establishment of its USD2 billion guaranteed MTN programme and the drawdown consisting of the issuance of USD600 million 2.75% guaranteed green bonds due 2024 by CNPC.

Advised Jinke Property on its issuance of USD300 million 8.375% notes due 2021.

Notable practitioners

Zhou Hao
is recognised as having dual expertise in both investment-grade and high-yield debt offerings. He is mentioned favourably by a client who confirms: "Usually we make sure he's on the deal," and goes on to praise his "specialisation, expertise and language advantage, which is a strength."

Michael Lu
enters the rankings as an up-and-comer after helping to drive the firm's DCM practice and leading matters ranging from the establishment of MTN programmes to euro-denominated dual-listed bond offerings. A client says: "Michael has always been very responsible and hands-on in managing each deal," and notes that he is "particularly experienced in working with regional and local SOE debut issuers."