Global law firm White & Case LLP has advised Greentown China Holdings Limited, a luxury residential property developer in China, on its subsidiary's offering of US$500 million subordinated perpetual capital securities callable 2019.
The perpetual capital securities were issued by Moon Wise Global Limited, a wholly-owned subsidiary of Greentown China Holdings Limited, and guaranteed by Greentown China Holdings Limited. The net proceeds will be used to replace and refinance existing perpetual securities, as well as for general working capital purposes.
Hong Kong-based White & Case partner Anna-Marie Slot, who with Beijing-based partner David Li led the team which advised Greentown China Holdings, said: "We are delighted to have assisted Greentown, a long-standing client of White & Case, in one of the few perpetual capital securities offerings in Asia."
Li said: "Investors had a robust demand for this paper from Greentown, which reflects the confidence in Greentown's financial position. We are pleased to have assisted Greentown again in strengthening and diversifying its capital structure through this latest offering."
The White & Case team was led by Hong Kong-based partner Anna-Marie Slot and Beijing-based partner David Li, with support from associates Daniel Lai and Yanni Guo (both Hong Kong).
For more information please speak to your local media contact.