Fosun in US$300 million high-yield offering
June 01, 2011 | BY
clpstaff &clp articlesPRC investment holding company Fosun International (Fosun) has raised US$300 million through a Rule 144A/Regulation S high-yield notes offering. The issuer's…
PRC investment holding company Fosun International (Fosun) has raised US$300 million through a Rule 144A/Regulation S high-yield notes offering. The issuer's business portfolio contains numerous pharmaceuticals and healthcare, property, steel, mining, retail, services and other investments.
The notes are senior obligations of Fosun and are guaranteed by several of Fosun's offshore subsidiaries. The joint lead managers and bookrunners of the offering were Goldman Sachs, Standard Chartered and UBS.
A Hong Kong-based Herbert Smith team advised Fosun on US law and Hong Kong law. The US team was led by Kevin Roy and Melody Chen, and the Hong Kong team was led by Gary Lock. PRC counsel to Fosun was Chen & Co Law Firm. The initial purchasers were advised by Sidley Austin as to US law aspects, and by Grandall Legal Group as to PRC law aspects.
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