|Mallesons Stephen Jaques has advised Dynasty Property Investments Limited, through an issuer, on its US$145 million real estate securitisation, China’s first cross-border commercial mortgage-backed securitisation. The Series 2006-1 Floating Rate Secured Notes are the first of their kind to be backed by onshore Chinese assets, being nine commercial properties. The properties are shopping centres located in nine cities in the eastern provinces of China. Mallesons negotiated all the financing documents, helped structure a unique offshore and onshore security package and advised on a complex swaps mechanism.
Khaitan & Co has advised KSK Power Ventur PLC, an innovative developer of private power projects in India, on its £30.9 million AIM Placing. Khaitan & Co advised KSK on its application for admission to AIM and also advised on a variety of aspects relating to Indian property legislation, foreign investment policy and structuring of the investing entities. The transaction is Khaitan & Co’s third AIM for the year, the others being the listing of the GDRs of Great Eastern Energy Corporation Limited and the raising of funds by Trinity Capital Plc.
Freshfields Bruckhaus Deringer has advised Credit Suisse Group as the placing agent on the US$223.5m (HK$1.7bn) placing of 470,000,000 shares by China Power International Development Limited.
Azmi & Associates (vide its Capital & Debt Market Practice Group) has acted as solicitors for the listing of Scan Associates Berhad, a premier security solution company in Malaysia on the Mesdaq Market of Bursa Malaysia Securities Berhad with its business interest in Middle East, North Africa, Asia etc.
Herbert Smith has advised on a US$400 million high-yield notes offering for Greentown China Holdings Limited. The notes were listed on the Singapore Exchange Securities Trading Limited, and the offering was made in reliance on Rule 144A and Regulation S under the US Securities Act. Greentown China is one of the leading residential and commercial property developers in China with over 98 projects currently under development. They include residential complexes together with office and hotel projects in Shanghai, Beijing, Changsha, Ningbo, Zhejiang, Zhoushan, Heifei and Hangzhou.
Latham & Watkins LLP has represented Canadian Solar Inc in connection with its initial public offering of 7,700,000 common shares and listing on the Nasdaq Global Market. The offering raised US$115.5 million. Deutsche Bank Securities and Lehman Brothers acted as the joint bookrunners for the offering. Canadian Solar Inc is a leading China-based solar module manufacturer.