Baker McKenzie is advising China Ruyi Holdings Limited (Stock code: 136) on the proposed issuance of HKD 2.34 billion (approximately USD 302 million) convertible bonds due 2030, with a coupon rate of 3.95% per annum.
The proceeds from the bond issuance will be used for the growth and expansion of the business of the group, including content production, purchasing drama scripts and copyrights, acquiring copyrights of films and TV programs, as well as for general working capital purposes. Please refer to the company's announcement for further details about the deal.
The deal team, composed of lawyers from Baker McKenzie and FenXun, is led by Capital Markets Partners Christina Lee and Brian Wong, with support from Partner James Tanner, Senior Counsel Rachel Wang, Counsel Sophie Fu, and Associates Helen Liu and Anthea Yu.
CLSA Limited, Deutsche Bank AG, Hong Kong Branch, Goldman Sachs (Asia) L.L.C., Macquarie Capital Limited and Merrill Lynch (Asia Pacific) Limited, are the joint global coordinators, joint bookrunners and joint lead managers in this deal.
Baker McKenzie is one of the leading firms for complex transactions, providing strategic advice on deals involving the world's leading financial institutions and multinational companies. The Firm regularly advises target companies, offerors, selling shareholders and financial advisers on the acquisition and disposal of companies listed on stock exchanges in key major financial centers, as well as issuers on their proposed listing and fundraising activities in different jurisdictions. With many of its lawyers enjoying established working relationships with local regulators in Hong Kong and other key markets, the Firm is able to guide clients through all stages of the process, providing valuable insights on regulatory developments that could impact the value and feasibility of cross-border transactions, as well as on ongoing compliance issues. The team also assists listed companies in the restructuring of shareholdings, use of stock as consideration, and block trades. Moreover, the team has extensive experience in advising clients on cross-border capital fundraising under different schemes, including the Shanghai-London Stock Connect and the China-Switzerland Stock Connect.