(March 4, 2014) - Paul Hastings, a leading global law firm, announced today that it advised Gemdale (Asia) Investment Limited (“Gemdale”), a wholly-owned subsidiary of Famous Commercial Limited (“Famous”), on its issuance of RMB1,050 million guaranteed bonds (“Bonds”), due 2017. Standard Chartered Bank (Hong Kong) Limited, CICC HK Securities, Credit Suisse, DBS Bank Ltd., Deutsche Bank, The Hongkong and Shanghai Banking Corporation, and Industrial and Commercial Bank of China (Asia) Limited acted as the underwriters. The Hongkong and Shanghai Banking Corporation also acted as the trustee.
The Bonds will be unconditionally and irrevocably guaranteed by Famous, Kudos International Company Limited, Dignity Commercial Company Limited, Gemdale Laureate Limited, Evergreen Commercial Company Limited and Jade Commercial Company Limited (collectively and together with Famous, the “Subsidiary Guarantors”). Gemdale and the Subsidiary Guarantors are wholly-owned subsidiaries of the Shanghai-listed Gemdale Corporation, one of the leading large-scale integrated residential property developers in China.
Paul Hastings previously advised Famous on its acquisition of a stake in Hong Kong-listed Frasers Property (China) Limited at a total consideration of approximately HK$1.65 billion.
The Paul Hastings team was led by capital markets partner Vivian Lam
, with support from associate Celia Chau
. Paul Hastings is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.