Hedge fund relief in Germany; Elegant drafting required for aid bond; ICBC dual listing sets lucky precedent

Author: | Published: 1 Dec 2006

DEBT Construction group Blue City's $925 million bond has fused whole-business securitization and project finance techniques in a public, rated bond issue. The deal exposes bond investors to naked construction risk for the first time. Shearman & Sterling acted for arranger Bear Stearns and the other managers on the deal, while Clifford Chance, through lead partner David Bickerton, advised the project sponsors and the Blue City Group. Trowers & Hamlins and Al Alawi Mansoor Jamal provided local law advice to the project sponsors and the managers, respectively. Allen & Overy partner Simon Hill acted for The Bank of New York as trustee, while Walkers and Maples and Calder provided Cayman Islands law advice....