金杜和富而德律师事务所于近日再次合作，为中国主要钢铁生产商之一的中国东方集团价值5.5亿美元，收益率为8%的债券发行担任法律顾问。此次发债经办商为德意志银行及荷兰商业银行。
早在2007年，两家律所就曾共同为该公司与安赛乐米塔尔战略合作项目提供法律服务。
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China Oriental Group bond issuance
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US$550m
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| Synopsis
China Oriental Group’s issuance of US$550m five-year, 8% secured high-yield bonds
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| Firm | Client | Role |
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King & Wood
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Issuer | PRC counsel |
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Freshfields [Lead lawyers: Kay-Ian Ng, Ken Martin, Calvin Lai]
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Issuer | US and Hong Kong counsel |
| Conyers Dill & Pearman | BVI counsel | |
| Jun He | PRC counsel | |
| Davis Polk | US counsel | |
King & Wood and Freshfields have recently advised China Oriental Group, one of China’s leading steel producers, on its US$550m five-year, 8% secured high yield-bond issuance. Deutsche Bank and ING are joint lead managers and bookrunners on the issue.
The proceeds of the offering will be used to fund projects such as potential acquisitions of steel mills in China, as well as capital expenditure projects at the group's current production facilities and potential investments in iron ore assets.
King & Wood and Freshfields both advised the company on its strategic cooperation with ArcelorMittal Group in 2007. Freshfields has also advised China Oriental on other business endeavours, including its US$258m IPO in 2004, and a defence against a hostile takeover offer from Pioneer Metals.
Meanwhile, King & Wood and Freshfields capital market teams are no strangers to each other, having acted as co-counsel on several other deals including Zhongsheng’s US$370m Hong Kong IPO (advising the issuer), Guangzhou Automobile Corporation’s privatisation proposal for Denway Motors (advising the joint sponsors), and China Pacific Insurance’s US$3.1bn mega IPO in January (advising the issuer). ALB
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