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。