KWM Advises On Zhejiang Geely’s US$400 Million Exchangeable Bonds.

Legal News & Analysis - Asia Pacific - Hong Kong - China - Capital Markets

27 June, 2019

 

King & Wood Mallesons (KWM) advised Zhejiang Geely Holding Group Company Limited (Zhejiang Geely) on the issuance of US$400 million zero coupon guaranteed exchangeable bonds due 2024 by Geely Sweden Financials Holding AB (publ). 

 

The bonds are guaranteed by Zhejiang Geely and are exchangeable into the Series B shares of AB Volvo (publ) that are listed on the NASDAQ OMX Stockholm Stock Exchange. This marks the first issuance of equity-linked securities by a Chinese automotive manufacturer exchangeable into a large public company listed in Europe.

 

Zhejiang Geely is the sole private automotive production company among the top ten automakers in China. It operates a vast number of well-known international brands including Geely Auto, Lynk & Co, Volvo Cars, Polestar, PROTON, Lotus, London Electric Vehicle Company, Yuan Cheng Auto, Terrafugia, and Saxo Bank etc. 

 

KWM advised Zhejiang Geely in respect of English and PRC laws. The transaction involved the collaboration between the Hong Kong and Shenzhen offices. The Hong Kong team was led by partners Hao Zhou and Michael Lu, with support from counsel Ian Hardee and associate Bei Lu. The PRC team was led by partner Yujia Pan with support from Tingting Yao, Ying Yang and Yingxuan Cai.

金杜助力浙江吉利控股发行4亿欧元可交换债券

金杜律师事务所代表浙江吉利控股集团有限公司(“浙江吉利控股”)助力Geely Sweden Financials Holding AB发行于2024年到期的4亿欧元零息票担保可交换债券。

 

此次发行的可交换债券由浙江吉利控股担保,并能兑换为AB Volvo(一家纳斯达克OMX斯德哥尔摩证券交易所上市公司)的B系列股票。这是首单由中国汽车制造企业成功发行的能交换为欧洲大型上市公司股票的股权挂钩证券。

 

浙江吉利控股是中国国内汽车行业十强中唯一一家民营轿车生产经营企业,旗下拥有吉利汽车、领克汽车、沃尔沃汽车、Polestar、宝腾汽车、路特斯汽车、伦敦电动汽车、远程新能源商用车、太力飞行汽车、盛宝银行等众多国际知名品牌。

 

金杜团队在此次发行中为浙江吉利控股提供了英国法及中国法的咨询服务。该项目由金杜香港办公室和深圳办公室团队联合完成。香港律师团队主办合伙人为周浩律师和鲁鸣律师,项目团队包括顾问律师殷康廸(Ian Hardee)及吕蓓律师。金杜境内律师团队主办合伙人为深圳办公室潘渝嘉律师,并由姚婷婷、杨颖、及蔡颖漩协助。