Franshion issues senior notes
A subsidiary of Sinochem Group, Chinese property developer Franshion Development and its guarantor, Franshion Properties, have issued US$500 million of senior notes.
The notes are due in 2021 and the process will be used for working capital, debt refinancing and general corporate purposes. The joint underwriters of the transaction were HSBC, Royal Bank of Scotland, Deutsche Bank and Nomura.
Representing the issuer was a Hong Kong-based Paul Hastings Janofsky & Walker team led by Vivian Lam and David Grimm. The initial purchaser was advised on US law by Shearman & Sterling and on PRC law by Jincheng Tongda & Neal.
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