Leading international law firm Clifford Chance has advised China Resources Gas Group Limited (CR Gas) on its establishment of a US$1.5 billion GMTN programme and the initial Rule 144A/Regulation S issuance under the programme of US$750 million 4.5% notes due 2022.
Listed on the Hong Kong Stock Exchange, CR Gas is principally engaged in the city gas distribution business including piped natural or petroleum gas distribution and operating CNG (compressed natural gas) filling stations in the PRC. CR Gas is part of the China Resources Group, one of the largest state-owned conglomerates with interests in retail, power utility, real estate, cement, city-gas, pharmaceutical and financial services businesses.
"We were able to leverage our global network in advising on this transaction, with lawyers from Hong Kong, Singapore and New York providing input on English, Hong Kong, Singapore and US law aspects," said Matt Fairclough, Hong Kong Capital Markets partner, who led the team on this transaction.
Other members of the team included partner Crawford Brickley, consultant Tom Kollar, senior associate Linda Cheng and associates Naiting Cao, Dawne Lo and Gehuan Liu from Hong Kong. Also supporting this transaction was Singapore associate Ryan Lin, New York partner Avrohom Gelber and New York counsel Robert Stone.
(Press Release by Clifford Chance)
