The Firm recently acted as both United States and Hong Kong counsel to Zoomlion H.K. SPV Co., Limited, a company incorporated in Hong Kong (the “Issuer”), and its parent, Zoomlion Heavy Industry Science and Technology Co., Ltd., a joint stock company incorporated in the People’s Republic of China which common shares are listed on the Hong Kong Stock Exchange and the Shenzhen Stock Exchange (the “Parent”), in connection with the offering and sale of US$400 million aggregate principal amount of 6.875% Senior Notes due 2017 of the Issuer. The notes are unconditionally guaranteed by the Parent on a senior basis. The offering was conducted in reliance upon Rule 144A and Regulation S under the Securities Act of 1933, as amended. The notes were rated BB+ and BBB- by S&P and Fitch, respectively, and contained only investment-grade covenants. The Notes are listed and quoted on the Singapore Exchange Securities Trading Limited.
The Parent is a leading China-based construction machinery manufacturer providing diversified products, including concrete machinery, crane machinery and environmental and sanitation machinery, with a presence in Asia, Europe and other regions. The proceeds of the offering will be used to fund the Parent’s overseas expansion plan, including enhancing its distribution and service network and establishing research and development centers and manufacturing facilities.
The Simpson Thacher team for this transaction included Leiming Chen, Celia Lam, Ethle Tang, Yi Gao, Xiaohui Lin, Howie Farn, Tianyi Chen, Duan Fu, Tina Yu and Wei Liang (Capital Markets) and Robert Holo and Andrew Purcell (Tax).
(Press Release by Simpson Thacher)
