Hong Kong Asia Pacific www.allenovery.com

Hong Kong | Asia Pacific

A&O in Hong Kong 21 partners

25+

years in Hong Kong

12

offices across Asia Pacific

69%

of work involving at least two countries

With more than 25 years in Hong Kong, Allen & Overy has a long history of advising clients on their most challenging transactions, matters and disputes across all key areas of business. Our Hong Kong team is the largest in the region, and a core element of our Greater China offering which also includes offices in Beijing and Shanghai. We are widely recognised for our expertise in handling complex, multi-jurisdictional transactions and our work from our Hong Kong base extends across most of Asia Pacific, with a particular focus on India, South Korea and the Philippines.

International Law Firm of the Year IFLR Asia Awards 2014

M&A Team of the Year IFLR Asia Awards 2014

Best Project Finance Law Firm

#1 Asia Pacific (ex Japan) Loans: Lender Adviser Bloomberg Financial Tables (2013)

#1 Asia Pacific Syndicated Loans: Lender Adviser Thomson Reuters Tables (2013)

The Asset Triple A Regional Awards 2014

Syndicated Acquisition Finance Law Firm of the Year APLMA Awards 2014

© Allen & Overy LLP 2015

#1 Asia Pacific (ex Japan) G3 Bonds: Manager Adviser Thomson Reuters Tables (2013)

Hong Kong | Asia Pacific

Our experience Banking

Shuanghui/ Smithfield Foods

Advising the mandated lead arrangers on providing the USD4bn debt financing for Shuanghui’s USD7.1bn acquisition of Smithfield Foods. Acquisition awarded Best Cross Border M&A Deal and Best China Deal, FinanceAsia Awards 2013.

Vinashin

Advising the facility agent and steering committee of creditors on the (approx.) USD630m restructuring of Vinashin (Vietnam), as part of a wider restructuring of Vinashin’s financial indebtedness. Awarded Restructuring Deal of the Year, IFLR Asia Awards 2014.

© Allen & Overy LLP 2015

Capital Markets: Debt

Industrial and Commercial Bank of China (Asia) Limited (ICBC)

Advising the joint global coordinators and joint bookrunners on the issue of USD500m Tier 2 Subordinated Notes due 2023 by ICBC, the first US dollar-denominated Basel III-compliant note issuance by a bank in Asia, and the first Tier 2 subordinated note issuance in Hong Kong since the Banking (Capital) (Amendment) Rules came into effect on 1 January 2013. Awarded Debt & Equity-Linked Deal of the Year, IFLR Asia Awards 2014.

China CITIC Bank International

Advising the joint global coordinators and bookrunners on the USD300m Basel III compliant Tier 2 subordinated notes for China CITIC Bank International, the first such issuance with a partial write-off structure, and only the second Tier 2 subordinated note issued in Hong Kong under the new banking capital rules effective 1 January 2013 (we also advised on the first).

Capital Markets: Equity

Sinopec Engineering

Advising Sinopec Engineering on its USD1.3bn IPO. Awarded Deal of the Year, AsianMENA Counsel Awards 2013.

“They’re responsive, reliable, and not just very competent technically but also commercially astute. They understand the products and the business.” Chambers Asia Pacific, Capital Markets (China), 2015

Derivatives & Structured Products

Synthetic CDO Transaction

Acting for Standard Chartered Bank on the establishment, issuance and listing of the USD3bn Sealane II CLO, a synthetic collateralised loan obligation (CLO) transaction with a reference portfolio (value USD3bn) of trade finance receivables with an underlying asset class comprising short dated trade finance obligations. This deal is, to our knowledge, the only recent public deal which has closed securitising such assets and gaining regulatory relief.

M&A

ING

Advising on the divestment of ING’s Asian insurance and investment management businesses; including on the completed USD2bn sale of its Hong Kong, Macau and Thailand insurance operations to Pacific Century Group, the completed USD1.7bn sale of its Korean life business to MBK Partners and on the ongoing disposal of other regional insurance assets to private equity and strategic investors.

Industrial and Commercial Bank of China Limited (ICBC)

Advising ICBC on its acquisition of 75.5% of the issued share capital of Tekstil Bankası(Tekstilbank) from GSD Holding for TRY669m (approximately USD316m).

Project Finance

Nghi Son Refinery

Our regional projects team is advising the export credit agencies and commercial lenders on the USD5bn financing of the Nghi Son Refinery and Petrochemical project in Vietnam (total project costs will be in excess of USD9bn).

“Sophisticated issues explained in a really straightforward manner – the team accelerated the whole process in a fantastic way.” Chambers Asia Pacific, Projects & Infrastructure (China), 2014

Disputes

DBS Bank

Winning a landmark decision for DBS (Hong Kong) in a financial product mis-selling case. The court vindicated DBS on both facts and law, and awarded it its full claim. The judgment clarified the Hong Kong legal position on contractual estoppel, execution-only banking services, and relevance of regulatory codes and consumer protection laws.

Investment Treaty Landmark

Advising an international bank in its successful claim against Sri Lanka under the GermanySri Lanka Bilateral Investment Treaty regarding an oil hedging agreement between the bank and the state-owned oil company. This investment treaty case is few against an Asian State and is the first investment treaty case to consider whether a derivative can be a qualifying investment.

Regulatory

Contentious/ non-contentious

Advising an international financial institution on client data management across 12 jurisdictions in Asia Pacific including Hong Kong, Singapore and China. The matter involved analysing and advising on bank secrecy and customer confidentiality, outsourcing (including approval and notification aspects), data privacy and resulting self-report issues with the local regulators, and it involved both our regulatory investigation and non-contentious compliance teams working closely together across the region.

“Their expertise not only across different practice areas but also across different jurisdictions allows us as a company to use them as a one-stop shop. All this translates into accuracy, efficiency and reliability.” Chambers Asia Pacific, Corporate/M&A (China), 2015

“They’re both exceptional lawyers and commercially pragmatic, but in a way that neither strength compromises the other. They deliver under pressure and view our relationship with them holistically and on a longterm basis, not just at a transactional level.” Chambers Asia Pacific, Capital Markets (China), 2014

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For more information, please contact:

Hong Kong

Allen & Overy 9th Floor Three Exchange Square Central Hong Kong SAR Tel +852 2974 7000 Fax +852 2974 6999

Office contacts

Simon Clarke

Vicki Liu

Thomas Brown Project Finance

Litigation

Tel +852 2974 7027 [email protected]

Tel +852 2974 7038 [email protected]

Tel +852 2974 7202 [email protected]

Matthew Gearing QC

Gary McLean

Ian Powell

Tel +852 2974 7177 [email protected]

Tel +852 2974 7112 [email protected]

Tel +852 2974 7133 [email protected]

Yvonne Siew

Walter Son

Ross Stewart

Tel +852 2974 7271 [email protected]

Tel +852 2974 7168 [email protected]

Tel +852 2974 7023 [email protected]

Managing Partner, Hong Kong

International Arbitration

Regulatory

Corporate

Banking

International Capital Markets

Derivatives and Structured Finance

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