Clifford Chance

The ‘very professional’ team at Clifford Chance balances ’legal risks with practical considerations’ to provide ‘well-reasoned’ advice to issuers and underwriters across a broad spectrum of debt capital markets mandates, including those requiring credit-enhancement structures. ’At the forefront of market developments’, the team, which is led by the ‘impressive’ Connie Heng, has been very active in structuring ESG/sustainability-linked bonds, including for joint lead managers in relation to the structuring of drawdowns of approximately $1.42bn for China Construction Bank, as issuer. David Tsai led this mandate and is well-versed in handling other novel mandates, including a range of offshore Renminbi-denominated “dim sum” bonds and issuances involving PRC cross-border credit enhancements. Mark Chan is ’very knowledgeable’ at structuring debt and equity-linked bond transactions in both Hong Kong and Macau, and is also adept at advising on liability management exercises. Other key members of the team include Angela Chan, who excels at handling offshore debt capital market issuances by Chinese issuers; Alan Yeung, who is ‘very savvy’ at advising on debt offerings of securities into the US; and Torrance   Shi, who is adept at handling a range of debt and equity-linked capital markets products.