02 September 2019

KWM advises on international bond offerings by two leading PRC securities firms

King & Wood Mallesons (KWM) Hong Kong DCM team advised on two guaranteed bond offerings by offshore subsidiaries of Dongxing Securities Co., Ltd. and Industrial Securities Co., Ltd. as international counsel.

Dongxing Securities Co., Ltd.

KWM represented Dongxing Securities Co., Ltd. (Dongxing Securities) in the issuance of US$400 million 3.25% bonds due 2024 by Dongxing Voyage Company Limited. The bonds were guaranteed by Dongxing Securities.

Dongxing Securities is the first and the only A-share listed full-service securities firm controlled by one of China’s largest four asset management companies, namely China Orient Asset Management Co., Ltd. Dongxing Securities provides a comprehensive portfolio of financial products and services that primarily engages in brokerage, proprietary trading, investment banking, asset management, as well as other financial services.

China Industrial Securities International Financial Group Limited

KWM represented China Industrial Securities International Financial Group Limited (CISI) in its issuance of US$200 million 5% bonds due 2020. The bonds were guaranteed by China Industrial Securities International Brokerage Limited.

Industrial Securities Co., Ltd. is the controlling shareholder of CISI and is one of the first full-service securities companies approved by the Chinese Securities Regulatory Commission. CISI is a Hong Kong-based full-service securities group listed on the Hong Kong Stock Exchange (Stock Code: 6058.HK) that covers a range of financial services including brokerage, corporate finance, loans and financing, asset management and financial products and investments.

Both transactions were led by our Hong Kong-based DCM partners Hao Zhou and Michael Lu, with support from senior associates Jason Du and Paul Marks.

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