Linklaters trailblazing run in the Asian capital markets

Linklaters has advised on a number of recent trailblazing transactions involving Cinda, State Bank of India, C.P. Foods Holdings’ and Adani Transmission:

  • Cinda’s US$3.2bn issuance of 4.45% Additional Tier 1 Preference Shares - the first ever issuance of AT1 capital by a non-bank PRC financial institution and the largest USD fixed income offering by a PRC issuer in 2016
  • State Bank of India’s US$300m issuance of 5.5% Additional Tier 1 Perpetual Notes - the first offshore Basel III-compliant AT1 capital issued by an Indian bank
  • C.P. Foods Holdings’ US$300m issuance of 0.50% exchangeable bonds - the first Asian exchangeable bond in several years and only the second Thai exchangeable bond after CPF’s first exchangeable offering in 2014. The bonds are exchangeable into ordinary shares of CP All, Thailand's largest convenience store operator
  • Adani Transmission Limited’s Rs.5,000,000,000 9.10% Senior Secured Notes due 2021 – one of the first "Masala" bond issuances by a non-supra national entity and a further step towards the internationalisation of the Indian rupee.

These innovative and complex transactions achieved some significant firsts in the marketplace” said partner Hyung Ahn, Linklaters.

It's a fabulous testament of our market leading strength and depth. In particular, we remain the only law firm to have led on all the offshore regulatory capital issuances by PRC financial institutions and the market leaders in the regulatory capital space” said partner Terence Lau, Linklaters.

We are very pleased to have been able to assist the issuers and underwriters bring these innovative deals successfully to market. The spread of transactions reflects our commitment to the Greater China and South East Asia markets and our expertise across the region” added partner Jon Horan, Linklaters.