In a landmark deal for the Asian food and beverages sector, China-based food producer Tingyi (Cayman Islands) Holdings Corp (Tingyi) has, for the first time, issued a $500 million dollar bond at 3.875 percent notes due 2017. The notes are listed on the Singapore Stock Exchange. 

Representing Tingyi was Sidley Austin, while Linklaters advised the joint lead managers. The Cayman Islands counsel to the issuer, meanwhile, was a Hong Kong-based Maples and Calder team led by partner Christine Chang.

The joint bookrunners and managers of the bond offering were Barclays Bank and Deutsche Bank, while UBS and Citicorp International acted as the co-manager and the trustee respectively.

Tingyi is an investment holding company that specialises in the production and distribution of instant noodles, beverages, and baked goods in the People’s Republic of China. It operates under four segments: instant noodles, beverages, bakery and others. It is best known for its “Mast Kong” brand of instant noodles. ALB

Candice Mak is North Asia Editor at ALB. Follow her on Twitter: @ALB_Magazine.

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