Clifford Chance has advised JP Morgan
Securities as the dealer manager on the first public tender
offer for exchangeable bonds in Asia since the financial crisis
bit last year. Korean chemical and construction materials
manufacturer KCC Corporation made the offer, which involved
paying cash for some of its outstanding exchangeable bonds. The
transaction was a reverse book-build where investors submitted
bids to JP Morgan detailing a price that they would accept for
their exchangeable bonds. The Clifford Chance team was led by
partner Connie Heng out of Hong Kong.
M&A Davis Polk & Wardwell is
assisting PCCW, a Hong Kong telecoms provider, on its possible
privatisation. Starvest and China Netcom have proposed such a
privatisation by a...