1、The leading lawyers and law firms in the Greater China RegionChina(International Firms) China(International Firms)Band 1Baker McKenzieWhat the team is known for The highly respected finance team at Baker McKenzie is an estab-lished bench based in Hong Kong and Shanghai.Houses specialists for matters

2、 involving the PRC,and also regularly handles work elsewhere in the Asia-Pacific region and beyond.Draws upon its international presence to assist clients with multi-jurisdictional matters.Its impressive client roster includes major lessors,airlines and banks.Continues to offer expertise on a number

3、 of leasing and financing transactions.Well placed to advise clients on restructuring and insolvency matters.Strengths The team is“seamless and integrated across all practices and regions,”reports a client,who further highlights its“diversified professional advice at one stop”and“strong ability to h

4、andle multi-jurisdictional mandates.”“They are very professional,responsive,and help us close deals under time pressure,”another client says.Notable practitionersAndrew Lockhart chairs the finance depart-ment at Baker McKenzie in Hong Kong and has a healthy reputation in the market.He enjoys longsta

5、nding expertise assisting a range of cli-ents in the Asia-Pacific region with a variety of aviation finance transactions.Allen Ng is highly adept at handling a range of leasing transactions,assisting both in relation to aircraft and engine components.He receives widespread praise from clients,with o

6、ne noting:“Allen Ng is excellent and knowledgeable in aircraft financial and operating leases.We can always expect the best advice and output.”Grace Li is a senior counsel who is based in Baker McKenzies Shanghai office.She con-tinues to establish herself in the aviation finance market,demonstrating

7、 particular knowledge in handling acquisitions,as well as complex leasing arrangements.Clifford ChanceWhat the team is known for Clifford Chances asset finance group is highly recommended for its ability to handle cross-border aviation financings,with considerable depth of expertise for matters invo

8、lving the PRC,Japan,Taiwan,Australia,Korea and the USA,thus highlighting its strong regional presence.Full spectrum of services attracts many lessors and lenders,ranging from JOLCO struc-tures and lease restructuring to airline insolven-cy-related issues and joint venture matters.Also well placed to

9、 advise on asset-based securitisa-tions and other capital market financing struc-tures.Increasingly active in handling transactions in the Russia market.Strengths“Their expertise is second to none,”remarks one impressed client.Another satisfied client describes the team as“very professional,efficien

10、t”and“very commer-cial.”Work highlights Acted for BOC Aviation on its sale and leaseback agreements concerning mul-tiple aircraft.Notable practitionersPaul Greenwell is a leading lawyer who is highly recognised in the aviation space,particularly for his knowledge of complex sale and leaseback transa

11、ctions.He has notable experience handling Asia-Pacific wide deals,with specific expertise in China and Japan markets.Hetty Lam has a busy aviation finance practice,supporting on a variety of leasing transactions.She routinely assists PRC and international clients on debt financings as well as joint

12、venture matters.Mayer BrownWhat the team is known for Mayer Brown fields an eminent aviation practice offering a diverse range of expertise in commercial and business jet financing,and all aspects of aircraft leasing,pur-chases and disposals.Remains a counsel of choice for an impressive roster of ma

13、jor airlines,lessors and banks.Strong track record on cross-border mandates throughout the Asia-Pacific region,with experience advising on matters relating to Singapore.Clients further benefit from its high levels of experience in corporate and dispute res-olution in the sector.Regularly assists on

14、large sale and leaseback transactions,as well as per-forming due diligence reviews of aircraft lease agreements.Strengths“Their performance is absolutely out-standing,”according to one client who elaborates:“They have a very deep knowledge of the sector,”and are also“very well informed about the mar

15、ket.”Another client also highlights the teams“con-*Indicates individual with profile.(ORL)=Other Ranked Lawyer.Alphabetical order within each band.Band 1 is highest.Band 1Greenwell Paul Clifford ChanceNg Allen Baker McKenzieStock Richard J I Mayer Brown*Wong Ashley King&Wood MallesonsBand 2Bisley Ma

16、tthew Allen&Overy LLPChow Jackson Watson Farley&Williams*Ho Yvonne Allen&Overy LLPJebely Paul Withers(ORL)Wong Simon Stephenson Harwood*Band 3Ke Katherine King&Wood MallesonsLi Grace Baker McKenzieMiller Stuart Clyde&Co(ORL)Nimmagadda Tejaswi Tiang&PartnersSun Justin HFWUp-and-coming individualsKwok

17、 Nai Tiang&PartnersAssociates to watchLam Hetty Clifford ChanceLeading IndividualsEminent PractitionersHo William Watson Farley&Williams*Lockhart Andrew Baker McKenzieEminent PractitionersBand 1Baker McKenzieClifford ChanceMayer BrownBand 2Allen&OveryWatson Farley&WilliamsBand 3HFWKing&Wood Malleson

18、sPillsbury Winthrop Shaw Pittman LLPStephenson HarwoodBand 4Tiang&PartnersLeading FirmsAviation:FinanceChinaMongoliaMyanmarIndiaKazakhstanJapanN.KoreaS.KoreaBeijingRussiaAviation FinanceContents:Aviation Finance p.1Banking&Finance p.3Capital Markets p.7Capital Markets Derivatives&Structured Products

19、 p.15Competition/Antitrust p.17Construction p.20Corporate/M&A p.22Corporate Investigations/Anti-Corruption p.31Dispute Resolution Litigation p.35Dispute Resolution Arbitration p.43Employment p.47Energy&Natural Resources p.50Family/Matrimonial p.51Financial Services p.53Insurance p.57Intellectual Pro

20、perty p.60International Trade/WTO p.65Investment Funds p.66Life Sciences p.70Private Equity Buyouts&Venture Capital Investment p.72Projects&Infrastructure p.76Real Estate p.78Restructuring/Insolvency p.81Shipping p.83Tax p.87Technology,Media,Telecoms(TMT)p.88Leaders Profiles)p.922China(International

21、 Firms)Aviation sistently excellent quality of advice and documen-tation,with deep-rooted industry knowledge and comprehension of aviation trends.”Work highlights Assisted Cathay Pacific on its USD293 million sale and leaseback agreement regarding five aircraft.Notable practitionersRichard Stock(see

22、 p.68)leads Mayer Browns finance practice in Asia and has longstanding experience advising on the full spectrum of avi-ation finance matters across the Asia-Pacific region.“Richard Stock is level-headed and good at taking an objective view of sensitive situations,”observes one client.Band 2Allen&Ove

23、ryWhat the team is known for Allen&Overy LLP is well reputed for advising on matters in the PRC aviation market from its Beijing and Shanghai offices.Continues to attract mandates from a number of banks,financiers,leasing companies and airlines due to its expertise in handling com-plex and high-valu

24、e transactions,such as port-folio financings.Strong choice for cross-border financing mandates,bolstered from its inter-national footprint.Offers additional expertise assisting clients with acquisition financing.Notable practitionersMatthew Bisley draws upon his broad banking and finance experience

25、to bolster his aviation finance offering.He is based in Allen Overy LLPs Shanghai office and speaks Mandarin Chinese.Yvonne Ho is highly visible in aircraft financing transactions in the Greater China region.Based in Beijing,she is frequently sought after by financial institutions and airlines.Watso

26、n Farley&WilliamsWhat the team is known for The robust assets and structured finance team at Watson Farley&Williams brings a strong track record advising on a wide range of transactions,including air-craft portfolio financing and leasing.Maintains a strong focus on the PRC market,with an impres-sive

27、 roster of lessor and airline clients.Provides significant expertise in restructuring and bank-ruptcy matters.Also acts for multinational clients throughout the Asia-Pacific region,with recent deal experience in Singapore and Nepal.Strengths The team“always gives clear and pro-fessional explanations

28、 and suggestions based on their rich experience,which are very helpful for us to make decisions,”says one happy client.A second source agrees that“they are very knowl-edgeable in the industry.”Notable practitionersWilliam Ho(see p.103)regularly handles air-craft portfolio sale and leaseback transact

29、ions,especially for domestic Chinese clients.Clients admire his“rich experience and considerate ser-vices.”Jackson Chow(see p.96)has a busy avia-tion finance practice as he offers expert advice on JOLCO transactions and tax leases.One happy client reports:“Im so impressed with his sharp mind and ric

30、h experience.”Band 3HFWWhat the team is known for The noted aero-space practice at HFW is experienced in acting for Chinese leasing companies on financing and leasing mandates,as well as repossession issues.Demonstrates multi-jurisdictional capabilities in pan-Asian matters involving Indonesia,India

31、 and Japan.Particularly active advising on JOLCO financing deals as well as lease restructuring.Additionally renowned for its ability in handling aviation disputes.Strengths“They are very professional and experi-enced,”confirms a client.Notable practitionersJustin Sun is highly visible in the market

32、,with notable expertise in asset finance and aircraft repossession matters.“Justin Sun has extensive experience in aviation finance and is very familiar with the features of Chinese lessors,”reports a client.King&Wood MallesonsWhat the team is known for King&Wood Mallesons is a full-service firm tha

33、t fields an aviation team that provides wide expertise in structured asset financing and leasing,involving commercial and corporate aircraft.Regularly acting on behalf of manufacturers,arrangers,lessors,financiers and airlines.Adept at leading finance and leasing matters as well as refinancing manda

34、tes.Draws strength from its international capabilities to assist with large cross-border finance transactions.Strengths“King&Wood Mallesons is an excel-lent team,”asserts one client,who enthuses:“It is impressive that they are not only efficient,but can also give us creative ideas that are very help

35、ful to our transactions.”Clients compliment the teams services,with one noting:“Their attention to detail and flexibility in their responses is excellent.”Notable practitionersAshley Wong receives mandates across the full gamut of aviation finance work.“Ashley Wong can always provide us with easily

36、comprehen-sible advice and pragmatic suggestions based on in-depth and yet easy-to-follow analysis,”explains one deeply impressed market source.Katherine Ke is“very commercial”and possesses“deep knowledge of the PRC market,”according to one client.She is well placed to advise on complex cross-border

37、 financing transactions within the aviation sphere.Pillsbury Winthrop Shaw Pittman LLPWhat the team is known for The renowned air-craft finance department at Pillsbury Winthrop Shaw Pittman is adept at handling business and commercial jet transactions,including portfolio acquisitions and financings

38、as well as leasings,on behalf of lessors,financial institutions and airlines.Also offers expertise in cross-border repossessions and restructuring of aircraft arrangements.Well placed to advise on trans-actions in relation to the private aviation space.Additionally active handling negotiations with

39、multinational manufacturers on trading trans-actions and the procurement of new aircraft and engines.Noted for its ability to assist on bank-ruptcy recovery proceedings.Strengths“They meet all standards for their work and excel at delivering results,”one source remarks.Work highlights Acted for Absa

40、 Bank on the pre-delivery and delivery financing of six Dash 8-400 aircraft to TAGG Angolan Airlines.Notable practitionersStephenson HarwoodWhat the team is known for Stephenson Har-wood possesses an on-the-ground finance team which is well recognised for its focus on the PRC market,representing maj

41、or banks,leasing compa-nies and airlines.Also handles deals elsewhere in Asia,with recent experience advising on matters relating to Korea,India and Japan.Highlighted for its expertise on financing mandates as well as receiving instructions from financiers and airlines on commercial and corporate je

42、t transactions.Additionally competent at providing advice on a wide range of financing transactions within the aviation sector,including Islamic financing and JOLCO arrangements.Adept at advising on the refinancing of aircraft fleets.Notable practitionersSimon Wong(see p.68)s practice spans the full

43、 range of aviation finance transactions,regularly receiving mandates to handle sale and leaseback transactions and acquisitions.He is also rec-ommended for his expertise in Islamic and ECA financings.Band 4Tiang&PartnersWhat the team is known for Tiang&Partners fields an established banking and fina

44、nce prac-tice which is regularly sought after by well-known domestic and international clients,including banks and leasing companies.Noted for its spe-cialist advice on portfolio sales and acquisitions,financing and leasing as well as securitisations in the aviation space.Provides one-stop service t

45、o clients by leveraging its global network and working with teams based in other jurisdictions,including Singapore,Japan,Australia and the UK.Strengths The team is lauded by one client because they“know what matters and go straight to the point.”“They are both practical and creative in their approac

46、h to problem solving,”another source reports.Work highlights Advised National Australia Bank on its portfolio financing for aircraft,valued at around USD2 billion.Notable practitionersTejaswi Nimmagadda is recognised for handling complex deals in the Asia-Pacific region.He remains a popular choice o

47、f counsel among Chi-nese and foreign clients on aircraft financing and leasing transactions.A client applauds him for being“very technically excellent,”and“creative in his approach to dealing with issues.”Kwok Nai is an up-and-coming lawyer who is actively building his reputation in the aviation are

48、a.He ably advises on multi-jurisdictional financing matters,including JOLCO deals.Other Ranked LawyersPaul Jebely joined Withers in January 2022.He has a solid international aviation practice, Banking&FinanceChina(International Firms)The editorial is in alphabetical order by firm name.Allen&OveryWha

49、t the team is known for Allen&Overy main-tains a market-leading reputation for advising major lenders and borrowers on a diverse range of high-value and complex transactions.Represents a growing roster of Chinese banks and alternative credit providers.Experience spans structured finance,syndicated l

50、oans and leveraged and acquisition finance.Active on project financing as well as on lending to the real estate,automotive and TMT sectors.Clients benefit from the firms impressive bench strength,with leading practi-tioners based in Hong Kong,Beijing and Shanghai,as well as access to a formidable gl

51、obal network of regional experts.Strengths One impressed client remarks that“wed go to them for the bigger and more complex financings”and“can always count on them.”Work highlights Advised DBS(Hong Kong)with other offshore lenders on a syndicated loan for real estate financing valued at HKD3.28 bill

52、ion.Notable practitionersYvonne Ho is based in Beijing and co-chairs Allen&Overys finance practice.She is held in high regard for her expertise in all manner of financing matters,especially in cross-border transactions.One market source describes her as“formi-dable.”Roger Lui has a solid track recor

53、d advising lenders on corporate loans as well as real estate financing.A client commends him for being“very strong and technical”and also notes that he“can manage the relationships with the clients as well.”Matthew Bisley has vast experience advising international and regional clients on high-value

54、transactions,especially acquisition and pro-ject financing.He is fluent in both English and Mandarin,being active in handling PRC-related financings.Fiona Cumming has considerable expertise in the areas of real estate financing and acquisition.Her client roster includes a number of international ban

55、ks and market-leading financial institutions.A market observer appreciates that she“understands international funds priorities and sensitivities.”Vicki Liu remains active in advising both borrowers and lenders on a variety of trans-actions.Aside from structured finance matters,she is also experience

56、d in dealing with private equity transactions,including pre-IPO financings.One client reports that it is“very easy for us to communicate our needs to her.”Cindy Lo routinely advises on acquisition financing and structured finance matters,and is also noteworthy for her specialism in cross-border tran

57、sactions and PRC matters.One admiring source comments that“she is an excellent lawyer and has a very commercial outlook.”Patrick Wong acts for banks and credit providers in a range of transactions,covering cross-border lendings and refinancing matters.His presence in fund financing is also acknowl-e

58、dged by market commentators.AshurstWhat the team is known for The banking group of Ashurst is adept at handling a range of cross-border transactions,particularly structured and project finance deals.Regularly engaged by commercial and investment banks to advise on financing of infrastructure and ene

59、rgy pro-jects.Particular expertise in outbound matters involving African and South-East Asian countries.Maintains a strong following among major state-owned Chinese banks.Strengths One deeply impressed interviewee comments that“Ashurst is very professional and knowledgeable in the financing area.”Re

60、garding difficult negotiations,another compli-mentary source explains that“Ashurst has been very proactive in offering solutions and providing views to bridge the differences.”Work highlights Represented Banco Santander in a EUR860 million syndicated loan with other banks including China Constructio

61、n Bank and Natixis to CNCE Group.Notable practitionersDaniel Lau is gaining a reputation in the finance sphere by offering a broad practice,covering real estate and project finance as well as syndicated loan transactions.He is particularly active on behalf of Chinese financial institutions and cor-p

62、orates.A client describes him as a“very valuable and knowledgeable legal counsel.”Baker McKenzieWhat the team is known for Baker McKenzies finance group is highlighted for its breadth of experience in outbound lending work for PRC clients,especially on real estate and project financing matters.Handl

63、es leveraged finance issues for key PRC banks and international finan-Band 1Lui Roger Allen&OveryWang Anthony Clifford ChanceBand 2Cheng Baldwin White&Case LLP*Haslam Peter Norton Rose FulbrightMan Eugene White&Case LLP*Band 3Aitken Alexander Herbert Smith FreehillsChan Owen Hogan Lovells Internatio

64、nal LLPFrench Daniel Freshfields Bruckhaus DeringerHung Sally Baker McKenzieLake Peter Slaughter and MayLiu Vicki Allen&OveryMalik Dauwood Clifford ChanceNg Maggie LinklatersSchemuth Matthias DLA Piper Hong Kong*Band 4Choi Doo-Soon Mayer Brown*Gilligan Philip B Deacons(ORL)*Lam Howard Latham&Watkins

65、Lo Cindy Allen&OveryTang Chris Reed Smith Richards ButlerWong Patrick Allen&OveryUp-and-coming individualsChain Bernard LinklatersMilligan David Norton Rose FulbrightLeading IndividualsEminent PractitionersHobbs Nathalie LinklatersEminent PractitionersBanking&Finance:Hong Kong-basedBand 1Ho Yvonne A

66、llen&Overy LLPBand 2Bisley Matthew Allen&Overy LLPBand 3Li David White&Case LLP*Lui Kanyi Pinsent Masons(ORL)Up-and-coming individualsLau Daniel AshurstLeading IndividualsBanking&Finance:Mainland China-based*Indicates individual with profile.(ORL)=Other Ranked Lawyer.Alphabetical order within each b

67、and.Band 1 is highest.Band 1Allen&OveryClifford ChanceLinklatersWhite&Case LLPBand 2Baker McKenzieLatham&WatkinsNorton Rose FulbrightBand 3AshurstFreshfields Bruckhaus DeringerHerbert Smith FreehillsKing&Wood MallesonsMayer BrownBand 4DLA Piper LLPHogan Lovells International LLPReed Smith Richards B

68、utlerSlaughter and MayStephenson HarwoodLeading FirmsBanking&Financewith particular expertise advising on private jet financing.He is also adept at assisting with com-plex restructuring work in the aviation sphere.Cli-ents value his“commercial acumen”and“technical capability,”stating that he is“exce

69、llent at his craft.”Stuart Miller leads the aviation finance and leasing team at Clyde&Co and is well versed in handling complex aviation finance transactions involving cross-border elements.“Stuart Miller is an excellent aviation lawyer,”one client comments,explaining that“he sees things from all p

70、erspec-tives.”Banking&Finance4China(International Firms)Banking&Finance cial institutions.Represents clients in all aspects of financing transactions,from origination and negotiation to documentation and closing.Addi-tionally offers sound knowledge of financial regulatory compliance issues.Active ad

71、vising on mandates involving offshore loans.Strengths“Their advice is technically sound,solu-tion-oriented and practical against the specific commercial backdrop,”comments one complimen-tary client.Another client remarks that“Bakers has shown a high level of reliability.”Work highlights Advised ICBC

72、 Asia on a HKD1.2 billion lending facility to T.C.L.Industries to priva-tise Tonly Electronics.Notable practitionersSally Hung is active on structured finance and syndicated loan matters.Her well-established presence is acknowledged by interviewees,with one noting:“Sally Hung is well known in the ma

73、rket.”Clifford ChanceWhat the team is known for Clifford Chances finance team remains a popular choice for major international and PRC lenders for a diverse range of transactions.Has deep experience in bilateral and syndicated loans,equity and project finance and leveraged finance transactions.Incre

74、asingly active in handling green finance deals.Heavy involvement in advising on recent reforms of banking and loan regulations.Provides assistance to an impressive roster of clientele including state-owned enterprises and major foreign banks.Well versed in advising on cross-border transac-tions acro

75、ss the Asia region and the USA.Strengths“I think in terms of technicality they are top-notch,”asserts one admiring market source.Another source is impressed by how the team is“able to deliver legal services and advice in a highly professional and stable manner.”Work highlights Advised J.P.Morgan,UBS

76、 and Siam Commercial Bank on the financing of CP Groups USD10.6 billion acquisition of Tescos assets in Thailand and Malaysia.Notable practitionersAnthony Wang leads Clifford Chances banking and finance team as a highly respected lawyer in the field.His multifaceted practice encompasses acquisition

77、and syndicated financing.“Anthony Wang is a legend of the industry,”asserts one highly impressed market source who further com-mends him for“consistently delivering the highest quality of services to his clients.”Matthew Truman continues to advise corporates and private equity clients on various tra

78、nsactions.He offers solid expertise in acquisition finance and is also called upon to handle financial restructuring matters.He is described by one market source as“very bright”and“commercially helpful.”Maggie Lo is well versed in dealing with cross-border acqui-sition financing,project financing an

79、d pre-IPO financing mandates.She is frequently sought out by high-profile banks for her expertise in these areas.Dauwood Maliks specialism lies in syndi-cated finance,with notable expertise in acquisi-tion finance.He also receives attention from the market for his contributions to the regulatory lan

80、dscape of syndicated loan markets in Asia.Edith Leung is described as a“very seasoned”lawyer by one admiring market source.She ably assists in acquisition and equity finance as well as sustainable finance deals.DLA Piper LLPWhat the team is known for DLA Pipers finance group holds notable expertise

81、in a range of cross-border deals,including acquisition finance,pro-ject finance and syndicated lending.Regularly advises on outbound and inbound investments related to Mainland China,with particular activity in the hospitality,energy,TMT and insurance sectors.Client base includes major Chinese and i

82、nternational institutional banks as well as large investors.Strengths“DLA Piper offers commercial and prac-tical advice,”says one client,adding that“their knowledge is also good and their services are value for money.”Work highlights Advised Bank of China on a revolving credit facility made availabl

83、e to Macau Sands China.Notable practitionersMatthias Schemuth(see p.113)is frequently instructed by international banks on project finance as well as trade finance matters.“Hes very experienced in the trade finance area and hes also quite patient,”one client reports.Freshfields Bruckhaus DeringerWha

84、t the team is known for Renowned for its advice to both borrowers and lenders,Freshfields maintains an impressive roster of clients,including banks,private equity firms and corporates from the technology sector.Well reputed for its expe-rience advising on leveraged financing matters.Continues to adv

85、ise on cross-border transactions,especially Chinese outbound acquisition finance.Strengths One happy client recounts that the team“did a very good job in helping us bring the financing to the finish line.”Another impressed client appreciates the teams“professional,considerate,thoughtful and con-stru

86、ctive suggestions.”Work highlights Assisted BioDuros sole share-holder Chiyoko with a revolving credit facility from Bank SinoPac to build a lab in China.Notable practitionersDaniel French is experienced in handling a large range of transactions,including fund and lever-aged finance matters,on behal

87、f of both borrowers and sponsors.A long-term client has“consistently been impressed by his calm composure and prag-matic approach,which have proved instrumental in closing out difficult negotiations.”Gibson,Dunn&Crutcher LLPWhat the team is known for Gibson Dunns finance team features considerable e

88、xperience in the leveraged finance market,advising on notable acquisition finance transactions.Primarily acts for international private equity firms and investment managers.Also assists Chinese and international companies across a range of sectors with cor-porate finance transactions.Further experti

89、se includes loan restructurings.Strengths A client praises the team for being“extremely client-oriented and all hands on deck.”Another client highlights the team for its“very strong technical skills coupled with deal savvy and commercial sense.”Work highlights Assisted NetEase with its USD1 billion

90、syndicated corporate loan facilities.Notable practitionersMichael Nicklin(see p.110)co-chairs Gibson Dunns global finance department and has a wealth of experience in debt financing transac-tions for private equity providers.He is noted to be“an extremely high-calibre professional”who“brings deep ex

91、pertise and commerciality to deliver great outcomes.”Herbert Smith FreehillsWhat the team is known for The established banking and finance practice of Herbert Smith Freehills maintains strong relationships with Chi-nese banks and financial institutions for outbound financing work.Regularly acts for

92、the Hong Kong subsidiaries of Chinese banks on lending into the wider region,including the Pacific area and South America.Also an established choice of counsel among international and regional lenders.Main-tains a flow of work on term loan facilities and loan restructuring.Also experienced in handli

93、ng syndicated lending,project and trade finance.Strengths According to a client,the team is“highly efficient based on excellent commercial understanding of the objectives combined with market knowledge.”Work highlights Acted for ICBCS in its HKD350 million term privatisation loan for EVOC Intelli-ge

94、nt Technology.*Indicates individual with profile.Alphabetical order within each band.Band 1 is highest.Band 1Wang Anthony Clifford ChanceBand 2Cheng Baldwin White&Case LLP*Nicklin Michael Gibson,Dunn&Crutcher LLP*Truman Matthew Clifford ChanceBand 3Bishop Andrew Latham&WatkinsCui Zhe Frank Linklater

95、sCumming Fiona Allen&OveryFrench Daniel Freshfields Bruckhaus DeringerLo Cindy Allen&OveryLo Maggie Clifford ChanceMencacci Davide Milbank LLP*Band 4Chandrashekar Manas Kirkland&Ellis*Harunari Makiko Simpson Thacher&Bartlett*Kahng Jackie Ropes&Gray LLP*Leung Edith Clifford ChanceLeading IndividualsE

96、minent PractitionersHobbs Nathalie LinklatersEminent PractitionersBand 1Clifford ChanceKirkland&EllisLinklatersWhite&Case LLPBand 2Allen&OveryFreshfields Bruckhaus DeringerLatham&WatkinsBand 3Gibson,Dunn&Crutcher LLPMilbank LLPRopes&Gray LLPSimpson Thacher&BartlettBand 4Hogan Lovells International L

97、LPPaul HastingsLeading FirmsBanking&FinanceLeveraged&Acquisition F Banking&FinanceChina(International Firms)Notable practitionersAlexander Aitken is an established lawyer who leads Herbert Smith Freehills Asian finance team and is active in both Chinese and Indian financial markets.He has significan

98、t expertise in outbound matters relating to trade and project financing.He is lauded for his“deep knowledge of the subject matter and understanding of the financial markets.”Hogan Lovells International LLPWhat the team is known for The versatile finance team of Hogan Lovells covers a wide range of f

99、inancing work,ranging from leveraged and acquisition finance to real estate and pre-IPO finance.Especially active in onshore and offshore financings involving PRC banks and borrowers.Client list includes a range of major PRC and inter-national banks.Benefits from its strong presence in China and its

100、 international network,covering the USA and Europe.Also assists Chinese and international companies with corporate finance mandates.Strengths A client says of the team:“They are knowledgeable,extremely responsive,and fully dedicated to our matters.”Work highlights Acted for Argentem Creek Part-ners

101、in the restructuring of USD500 million worth of notes issued by GCL New Energy Holdings.Notable practitionersOwen Chan leads Hogan Lovells finance practice.He acts for international lenders,private equity funds and companies on property finance and structured finance matters.King&Wood MallesonsWhat

102、the team is known for King&Wood Mallesons banking and finance team provides comprehensive advice on Greater China-focused transactions,advising on Hong Kong and PRC law as well as English law.Draws on expertise from teams based in Hong Kong,Shanghai and Beijing.Especially active on corporate financi

103、ng in the aviation and technology sectors.Active across a broad range of work spanning from refinancing and bridge lending to acquisition finance.Han-dles matters for both domestic and international banks and corporate borrowers,with a client base comprised of large China-based enterprises and corpo

104、rations.Strengths One client reports:“I am impressed with KWMs all-round knowledge and technical expertise which helps us navigate these difficult times.”Another client explains that the team can“provide comprehensive and insightful opinions on cross-border financing deals.”Work highlights Represent

105、ed Castle Peak Power as borrowers counsel on a HKD5.2 billion syndi-cated loan to finance the construction of a subsea LNG pipeline.Notable practitionersRichard Mazzochi is a key contact for clients.Kirkland&EllisWhat the team is known for Kirkland&Ellis is a go-to firm for leveraged and acquisition

106、 finance,regularly acting for sponsors as well as corpo-rate borrower clients.Known for handling com-plex distressed finance matters with refinancing aspects,including debt restructuring and recap-italisation.Capitalises on its rich history of acting in the private equity space worldwide.Resources s

107、trengthened by its expertise in London and the USA on cross-border financing.Handles a wide geographic spread of deals including recent mat-ters involving US and Singaporean clients.Strengths One market source lauds the team for its“solid domain expertise”and its“ability to think commercially.”Anoth

108、er admiring source notes that“they have a very strong debt financing team”as well as a“pretty strong restructuring team.”Work highlights Engaged by Advent International to advise on a USD145 million margin loan refi-nancing to Crompton Greaves.Notable practitionersManas Chandrashekar(see p.94)posses

109、ses notable expertise in advising on acquisition finance and corporate finance.His mandates of late include representing global financial institu-tions and private equity houses.Latham&WatkinsWhat the team is known for Latham&Watkins offers robust expertise regarding syndicated loans,leveraged and a

110、cquisition finance and refinancing transactions.Also has considerable expertise in large-scale margin lending.Popular choice of counsel among major international banks,private equity sponsors and corporations.Demonstrable expertise in cross-border matters related to Europe,the USA and the wider Asia

111、-Pa-cific region.Strengths The team members are described by one source as“slick operators”and are com-mended for being“knowledgeable,hard-working and professional.”Another source describes the team as“one of the key players in the Asia market for restructuring.”Work highlights Acted for HSBC in a s

112、yndicated loan and revolving credit facility to Tencent Asset Management.Notable practitionersAndrew Bishop acts on a range of transactions including bridge finance,margin loans and capital call financing.He advises an equally wide range of financial services clients,including investment banks,priva

113、te equity and venture capital funds.He is described as“a man whose interpersonal skills warm up the driest of souls and achieve a pos-itive outcome.”Howard Lam advises credit pro-viders and corporate clients on margin financing and private equity transactions as well as lever-aged buyouts.One interv

114、iewee notes that he is“well connected with the investors,so he knows the situation very well.”LinklatersWhat the team is known for Linklaters com-pact and highly regarded team advises on mar-ket-leading transactions.Work spans a range of complex structured financings,the firm maintaining an especial

115、ly strong reputation for leveraged and acquisition finance as well as syn-dicated loans.Particularly active on lending to the real estate and telecommunications sectors.Acts for a prestigious list of international banks and financial institutions.Offers experience covering a wide variety of markets

116、including advising on matters related to the UK and the USA in addition to catering to clients across the Greater China region.Strengths One grateful client reports that the team is“technically extremely strong”with a“firm grasp of market practice and documentation.”A second source agrees that“they

117、are very strong on this work”due to their“very good expertise.”Work highlights Advised Shanghai Pudong Development Bank and other lenders on a syndi-cated pre-IPO financing loan to Anjuke.Notable practitionersNathalie Hobbs is the firms Asia managing partner and is a well-respected figure in the mar

118、ket.She is well versed in all types of financing matters,including acquisition and leveraged financing,and works with both lenders and bor-rowers on a host of financing deals.Frank Cui is building a strong practice advising on acquisition and leveraged finance.One client explains that he“has a deep

119、understanding of the most compli-cated issues whilst possessing the ability to explain them in concise and plain language.”Maggie Ng is noted for dealing with cross-border transac-tions involving China,particularly syndicated and unsecured loans.One client is impressed by how“she understands what I

120、require and delivers high-quality work with minimum fuss.”Bernard Chains recent practice involves advising PRC-based and international financial institutions and corporates on high-profile equity and mezzanine finance.He also leads the firms structured solutions practice.Mayer BrownWhat the team is

121、known for The banking and finance team of Mayer Brown is an established player in the market with a well-rounded prac-tice,especially noted for asset finance and real estate finance work.Also advises on companies and real estate acquisition finance.Client roster consists of major financial instituti

122、ons,domestic and international banks,regional development banks and Chinese corporates.Offers capability in Hong Kong,English,Australian,Singaporean and US law,and widespread fluency in Mandarin,Cantonese and English.Strengths The team is complimented by a client for its“ability to provide comprehen

123、sive plans and coordinate international negotiations.”Another client describes the team as“dedicated and efficient.”Work highlights Acted for HSBC in the provision of a USD400 million term loan facility to New Hope International.Notable practitionersChoi Doo-Soon(see p.96)specialises in complex acqu

124、isition transactions as well as capital call and real estate financing.He is described as“tough in negotiations”by a client who also points out that he“understands the rules and practices very well.”Milbank LLPWhat the team is known for Milbank has recently bolstered its finance practice with latera

125、l hires.Active in dealing with high-profile transactions involving acquisition,debt and mezzanine finance,as well as sophisticated refinance and recapitali-sation.Client roster is composed of international banks,asset management firms and private equity houses.Mandates span a variety of regions acro

126、ss Asia,Europe and the US.Strengths One client commends the team for being“professional,experienced and committed.”A second client observes that the team is“able to leverage both their internal expertise and external counsel to deliver quality advice to us.”Work highlights Advised a consortium of ba

127、nks as underwriters on a USD400 million acquisi-tion finance loan to Hillhouse Capital on its bid to acquire the home appliance business of Royal 6China(International Firms)Banking&Finance Philips NV.Notable practitionersDavide Mencacci(see p.110)is best known for assisting a wide range of internati

128、onal banks in leveraged finance transactions,and also acts for private equity investment houses.He is described by one source as a“very experienced and knowl-edgeable leveraged finance lawyer.”Norton Rose FulbrightWhat the team is known for Norton Rose Ful-brights banking and finance team is skilled

129、 at handling syndicated loans as well as structured,commodity and trade finance.Regularly active on financing for the infrastructure,hospitality,healthcare and retail sectors.Offers strong cov-erage in Greater China through its offices in Hong Kong,Shanghai and Beijing.Particularly active on large o

130、utbound financing and refinancing.Expanding its capability in green financing.Skil-fully represents major Chinese and international banks as well as borrowers.Frequently advises on cross-border mandates across the Asia-Pacific region.Strengths One client commends the team by noting that“they have do

131、ne a great job and have always been efficient and punctual,with good understanding of our demands.”A second client praises the team for being“highly reliable with a quick response on its work.”Work highlights Mandated by Citizens Bank,N.A.to advise on a USD150 million revolving credit facility to fa

132、shion company Steven Madden.Notable practitionersPeter Haslam heads Norton Rose Fulbrights Hong Kong banking and finance practice.He is a longstanding figure in the market who has notable expertise in banking transactions,including green finance,acquisition finance and bilateral and syn-dicated lend

133、ing.One market source concurs that“Peter is a superb lawyer who brings years of expe-rience and calm to negotiations.”David Milligan boasts expertise in international trade finance and ECA finance.He is the principal LIBOR/IBOR expert in the team,and is also sought after for his knowledge of fintech

134、 matters.One client praises his“excellent communication skills”and further notes that he is“able to provide valid suggestions for our projects.”Paul HastingsWhat the team is known for The banking and finance practice of Paul Hastings offers expertise in leveraged finance,with a long history of actin

135、g on major LBOs.A popular choice among sponsor clients,with a focus on outbound transactions for China-based clients.Also advises on refinancing and mezzanine transactions.Acts for investment banks and insurance companies.Handles a broad geographic spread of deals spanning Europe,Asia and the US.Wor

136、k highlights Acted for CDIB Capital in its mez-zanine financing to a property developer in Hong Kong.Notable practitionersJames Ma and Vivian Lam are the key contacts at the department.Reed Smith Richards ButlerWhat the team is known for Reed Smiths banking and finance department has been an establi

137、shed choice of counsel for both borrowers and lenders,regularly advising on cross-border transactions.Offers a broad range of financing knowledge,with notable activity on syndicated loans.Addi-tionally well known for its asset finance and lev-eraged finance capabilities.Regularly represents an array

138、 of financial institutions and corporates.Offices in Hong Kong,Beijing and Shanghai illustrate the firms capabilities in Greater China.Additionally mandated on matters relating to the shipping sector.Strengths One client remarks that“they under-stand us really well”and that“they are always a problem

139、 solver.”Work highlights Represented Fortune REIT in its five-year sustainability-linked term facility from DBS Bank.Notable practitionersChris Tang possesses substantial experience in syndicated lending and acquisition financing mat-ters.He also has a strong offering in asset finance and is particu

140、larly well known for his shipping finance expertise.One source comments:“He can walk you through difficult legal terms and clauses with clear and simple language.”Ropes&Gray LLPWhat the team is known for Ropes&Grays finance department possesses a renowned lev-eraged and acquisition finance practice

141、advising on significant real estate and refinancing matters.Specialises in assisting with funding for corpo-rate transactions and is sought out for special situations financing.Strong focus on work for domestic and international private equity funds,asset management groups and corporates.Strengths O

142、ne client notes that the team“under-stands very well what matters to a sponsor and always approaches deals in a very holistic manner.”Notable practitionersJackie Kahng(see p.104)regularly acts for world-leading private equity firms and corporates,being particularly experienced in acquisition finance

143、 and mezzanine loan transactions.According to one source,she“marries great technical skill with a pragmatic commercial approach to help achieve good outcomes.”Simpson Thacher&BartlettWhat the team is known for The banking team of Simpson Thacher&Bartlett offers comprehen-sive advice on leveraged and

144、 acquisition finance mandates.Noted expertise in handling high-value margin loan financing.Frequently sought out for its strong knowledge in the field by private equity firms as borrowers.Maintains impressive exper-tise in transactions involving the pharmaceutical,energy and healthcare sectors.Stren

145、gths One source remarks that the team“respond very quickly and efficiently.”Notable practitionersMakiko Harunari(see p.102)is building a healthy reputation in the market for advising borrowers on acquisition finance,leveraged finance and real estate finance matters.She is based in Hong Kong and chai

146、rs the Asia banking and credit practice of the firm.According to one source,she“leads her team very well.”Slaughter and MayWhat the team is known for The financing prac-tice of Slaughter and May is well placed to advise major multinational corporates as borrowers,and also works with Chinese banks.Le

147、verages off a strong M&A team to provide comprehensive advice on acquisition finance,and also regularly advises on syndicated loan transactions.Also adept in handling complex debt restructuring matters.Handles lending matters in the energy and natural resources sector both within the PRC and on outb

148、ound deals,also being active in the logistics sector.Strengths One happy client describes the team as“very resourceful and client-oriented.”Work highlights Advised S.F.Holding on a syndi-cated term loan valued at HKD18 billion to fund its subsidiarys acquisition of Kerry Logistics shares.Notable pra

149、ctitionersPeter Lake co-chairs Slaughter and Mays China banking and finance department and is rec-ognised for his activity on funds financing and restructuring matters.He is also frequently sought out by both domestic and international cli-ents for his corporate finance expertise.Stephenson HarwoodW

150、hat the team is known for Stephenson Har-woods banking and finance team maintains a strong regional practice with a focus on receiv-ables financing.Active on behalf of both lenders and borrowers.Recognised for its expertise in fintech and investment products.Also undertakes noteworthy financing work

151、 for market-leading Chinese and international banks.Demonstrates significant knowledge in trade finance and com-pliance matters.Strengths The firm is praised for its“ability to tap its local networks for prompt and holistic solutions to practical problems at hand.”Notable practitionersMark Reed and

152、Elton Chan are key contacts for the practice.White&Case LLPWhat the team is known for White&Cases banking and finance practice is highlighted for its outstanding handling of syndicated loans,secured and unsecured credit facilities,and acqui-sition financing.Particular strength in handling complex le

153、veraged financing matters.Additional areas of expertise include real estate,project and asset finance.Maintains an enviable list of cli-ents including leading Chinese and international banks,investment firms and private equity clients.Offers expertise handling deals involving various jurisdictions,i

154、ncluding Singapore,Japan,the USA and the UK.Strengths One satisfied client reports that“the Hong Kong finance team is always extremely responsive,helpful,and commercial.”Another client says:“My impression is that White&Case are very professional,and have a strong grasp of the local PRC banking,legal

155、 and regulatory land-scape.”Work highlights Represented China CITIC Inter-national Bank in the amendment and extension of a syndicated USD1 billion mezzanine loan to Tianqi Lithiums Australian subsidiary.Notable practitionersBaldwin Cheng(see p.95)is recognised to be a very strong practitioner in cr

156、edit finance.He advises banks,private equity firms and alternative credit providers on a variety of outbound transac-tions in the Asia region.One source reports that“he is very commercial”as well as“highly experienced in his field of expertise.”Eugene Man(see p.109)leads White&Cases Asia-Pacific ban

157、king team with noteworthy expertise in handling high-profile Capital MarketsChina(International Firms)The editorial is in alphabetical order by firm name.Allen&OveryWhat the team is known for Highly experienced Hong Kong-based debt team working on com-plex cross-border investment-grade matters and p

158、anda bond issuances.Allen&Overy additionally advises on social bond offerings and large MTN issuances.Solid equity practice advising issuers and underwriters on cross-border IPOs and sec-ondary issuances.Represents an enviable roster of international banks,Chinese financial entities and sovereign is

159、suers.Key clients include Bank of America Merrill Lynch,Bank of China and China Zheshang Bank.Strengths A client reports being“very satisfied,”citing“high-quality execution,the right amount of attention from partners,as well as the latest regula-tory and industry insights,”as strengths.Another clien

160、t enthuses:“Allen&Overys service and expertise is ten out of ten for me.They are one of the most prominent and active international counsels in the Chinese international bond mar-kets,which ensures they have the most extensive and broad deal experience and knowledge about the products.They have work

161、ed with issuers from nearly every possible sector and on nearly all kinds of bond products.”A third client states:“I would like to give my highest recognition to the teams impeccable services,”highlighting that they are“fully capable of serving Chinese clients,responsive and able to handle huge volu

162、mes of work without sacrificing quality when negotiating on behalf of their clients.”Work highlights Allen&Overy advised the joint lead managers and joint bookrunners on the first dual-currency blue bond offering by Bank of China for the financing of marine-related eligible green projects.Notable pr

163、actitionersStephen Miller is head of Allen&Overys regional Asia-Pacific capital markets practice and has a particularly deep well of expertise in debt cap-ital markets work.He maintains key relationships with the firms institutional banking clients from his base in Hong Kong.John Lee is head of Alle

164、n&Overys debt capital markets practice in Hong Kong and frequently acts on the bond issuances of banks and property companies,often advising the lead managers and underwriters.A client remarks that he is“very experienced and highly regarded in the market;he always comes back with very accurate advic

165、e.”The same client also praises his accessibility,noting his habit of“answering late calls as a senior partner,which is very helpful.”Another client describes him as a“go-to partner for DCM work,”adding:“John is also hands-on com-pared to partners at other firms.”Agnes Tsang of Allen&Overys Hong Kon

166、g office continues to handle a broad spectrum of debt capital markets mandates,lately advising on issuances of social,panda and sovereign bonds.A client highlights her“very good knowledge of capital markets law,”describing her as a“very responsible partner who pays close attention to every detail.”J

167、onathan Hsui advises issuers,placing agents,sponsors and Band 1Clifford ChanceDavis Polk&Wardwell LLPFreshfields Bruckhaus DeringerSkadden,Arps,Slate,Meagher&FlomBand 2Kirkland&EllisLatham&WatkinsSimpson Thacher&BartlettBand 3Cleary Gottlieb Steen&Hamilton LLPHerbert Smith FreehillsLinklatersOMelven

168、y&MyersPaul HastingsSidley AustinSullivan&Cromwell LLPBand 4Allen&OveryDeaconsMorrison&Foerster LLPNorton Rose FulbrightSlaughter and MayBand 5Fangda PartnersHogan Lovells International LLPKing&Wood MallesonsTian Yuan Law FirmWilson Sonsini Goodrich&RosatiLeading FirmsCapital Markets:EquityBand 1Hen

169、g Connie Clifford ChanceLiu William LinklatersBand 2Lee John Allen&OveryNg Michael LinklatersSim Hwang Hwa LinklatersBand 3Guan Bing Freshfields Bruckhaus DeringerHeathcote Andrew Freshfields Bruckhaus DeringerKu William Herbert Smith FreehillsLiu Ji Latham&WatkinsStone Jonathan B Skadden,Arps,Slate

170、,Meagher*Tsang Agnes Allen&OveryZhou Hao King&Wood MallesonsBand 4Chan Angela Clifford ChanceGrandolfo James Milbank LLP*Kollar Thomas Mayer Brown*Lau Terence LinklatersLee Jini AshurstLi Carrie Sidley Austin*Radtke Gerhard Davis Polk&Wardwell LLP*Tong Kevin Deacons*Tsai David Clifford Chance LLPXio

171、ng Renee Sidley Austin*Up-and-coming individualsChan Mark Clifford ChanceCheung Gloria LinklatersCui Sherry LinklatersLu Michael King&Wood MallesonsLeading IndividualsEminent PractitionersMiller Stephen M Allen&OveryEminent PractitionersCapital Markets:Debt*Indicates individual with profile.Alphabet

172、ical order within each band.Band 1 is highest.Band 1Allen&OveryClifford ChanceLinklatersBand 2Davis Polk&Wardwell LLPFreshfields Bruckhaus DeringerKing&Wood MallesonsLatham&WatkinsBand 3Herbert Smith FreehillsSidley AustinSkadden,Arps,Slate,Meagher&FlomBand 4AshurstDeaconsFangda PartnersMayer BrownL

173、eading FirmsCapital Markets:Debtand complex deals,including corporate finance,project finance and real estate finance mandates.An admiring interviewee remarks that“he is very well regarded in the market”and also describes him as“technically proficient.”David Li(see p.107)is reported by a client as“v

174、ery experienced in the China banking market”in addition to having“a strong grasp of structuring.”He is capable of handling inbound and outbound transactions,advising on both equity and debt financing.Other Ranked LawyersPhilip Gilligan(see p.101)of Deacons stands out for his strength in the Hong Kon

175、g market.He chairs the department and advises both lenders and borrowers on a range of transactions,encom-passing structured trade,commodities and asset finance.According to one client,he is“very expe-rienced with the regulatory framework”and also“gives practical legal advice.”Lui Kanyi heads the fi

176、nance practice of Pinsent Masons.He regularly handles cross-border infra-structure and project financing as well as restruc-turing matters.A source notes that he“has a very hands-on approach to providing advice and is very responsive to clients requests.”Capital Markets8China(International Firms)Cap

177、ital Markets underwriters on share issuances and placements.A client describes him as“helpful,responsive and professional,”while a second client considers him a“pleasure to work with.”Lina Lee primarily advises sponsors and lenders on SEHK listings,as well as advising on share placements and seconda

178、ry block trades.She frequently acts for banks,investment vehicles and securities firms.A client describes her as“very commercial and efficient,”noting that she“solves problems very quickly.”A second client supports this claim,stating:“She is very adept at efficiently completing deals under time pres

179、sure.”AshurstWhat the team is known for Well-balanced offering with an established reputation for pro-viding ECM advice to blue-chip clients on IPOs and secondary offerings,as well as on bond restructuring.Ashurst remains active on private placements,including block trades and top-up offerings.Also

180、acts for major underwriters and issuers on bond offerings,EMTN issues and cross-border convertible bonds.Provides Hong Kong and US law advice for international and Chinese banks and businesses.Key clients include Bank of China,the Macau Chinese Bank and Luso Interna-tional Banking.Strengths One clie

181、nt enthuses:“The Ashurst team are always reliable and accessible.They were quick when responding to our queries,delivered consistent levels of professional work and provided commercial and pragmatic advice which helped to close the transaction in a timely manner.”The client adds:“Their strong experi

182、ence in dealing with Chi-nese issuers definitely helped in maintaining effec-tive and efficient communications with all parties and stakeholders involved.”A client reports:“Ashurst did a good job.It was truly a novel and complex transaction arising during the scariest months of COVID,under a ridicul

183、ously tight timetable,but we ended up in a quite good place after overcoming significant obstacles.”One client appreciates that“as an international firm with multiple teams they can provide one-stop services to clients and banks,which makes the exe-cution quite efficient.”Work highlights Ashurst rep

184、resented Mobvista in relation to its first issue of USD30 million in con-vertible bonds to PAG.Notable practitionersAnna-Marie Slot splits her time between Ashursts London and Hong Kong offices and frequently advises on high-yield debt issuances,often representing offshore issuers.A client describes

185、 her as“very responsive and very com-mercial a safe pair of hands who is always willing to make tough calls to move the transaction for-ward appropriately.”Jini Lee regularly represents a diverse clientele of banks and financial insti-tutions,as well as PRC corporates and SOEs,on debt issuances and

186、private placements.A client remarks that she is“pragmatic,easy to work with and confident dealing with Chinese clients,”as well as someone who“understands markets.”Another client supports this view,asserting:“She has carried herself very professionally and is knowl-edgeable,detail-oriented and well

187、versed in many jurisdictional issues.In addition,while most lawyers do not know whats going on in the market or about the client,she is always on top of the market.”Cleary Gottlieb Steen&Hamilton LLPWhat the team is known for Cleary Gottlieb Steen&Hamilton provides UK,US and Hong Kong law advice to

188、PRC and Hong Kong clients.Best known for its work in the ECM space,advising on IPOs and secondary offerings.Advises on public offer-ings in both Hong Kong and the USA.Further expertise includes advising on ADS issuances and convertible offerings.Recently active in transac-tions in the TMT,biotech an

189、d hospitality sectors for both issuers and underwriters.Key clients include Burning Rock Biotech,Goldman Sachs and Huazhu Group.Strengths A client highlights Cleary Gottlieb Steen&Hamiltons“very strong Hong Kong capital markets team.”Work highlights Cleary Gottlieb Steen&Ham-ilton acted as Hong Kong

190、 and US counsel to BofA Securities,Haitong International and UBS,as the joint sponsors,joint global coordinators,joint bookrunners and joint lead managers,and the other 14 investment banks as underwriters,on the USD3.5 billion global offering of ordinary shares and primary listing of JD Health Inter

191、national on the main board of the SEHK following its spin-off from JD.com.Notable practitionersFreeman Chan(see p.94)co-leads Cleary Got-tlieb Steen&Hamiltons equity capital markets team,offering clients three decades experience advising on Hong Kong IPOs and lately han-dling healthcare and hospital

192、ity sector listings.A source asserts that he is“a technically brilliant lawyer and very successful practitioner.”Zhao Shuang(see p.120)acts for both issuers and underwriters on IPOs as well as secondary offer-ings in her role as co-head of Cleary Gottliebs ECM team.Her clientele includes biotech,fin

193、tech and pharmaceutical companies,as well as banks and financial institutions.Clifford ChanceWhat the team is known for Clifford Chance boasts an excellent track record of taking on large and complex IPOs on behalf of issuers,sponsors and underwriters,as well as handling a range of high-value second

194、ary share offerings.One of the standout ECM teams in the region,regularly advising on major transactions.Addi-tionally has an enviable DCM practice,assisting on the issuance of a range of products,including Band 1Radtke Gerhard Davis Polk&Wardwell LLP*Yeung Alan Clifford ChanceBand 2Elder Jason T Ma

195、yer Brown*Lee Kyungwon Shearman&Sterling LLP*Li Carrie Sidley Austin*Xiong Renee Sidley Austin*Band 3Chan Margie White&Case LLP(ORL)*Kollar Thomas Mayer Brown*Lam Edward Skadden,Arps,Slate,Meagher&Flom*Liu William LinklatersSlot Anna-Marie AshurstTao Liang(Alex)Milbank LLP*Zhou Hao King&Wood Malleso

196、nsUp-and-coming individualsZhou Jessica White&Case LLP(ORL)*Associates to watchJiang Shan LinklatersLeading IndividualsBand 1Davis Polk&Wardwell LLPShearman&SterlingSidley AustinBand 2LinklatersSkadden,Arps,Slate,Meagher&FlomBand 3King&Wood MallesonsLatham&WatkinsMayer BrownMilbank LLPLeading FirmsC

197、apital Markets:High-Yield Products*Indicates individual with profile.(ORL)=Other Ranked Lawyer.Alphabetical order within each band.Band 1 is highest.Band 1Gao Z Julie Skadden,Arps,Slate,Meagher&Flom*He Li Davis Polk&Wardwell LLP*Huang Grace Freshfields Bruckhaus Deringer*Ko Teresa Freshfields Bruckh

198、aus DeringerLo Amy Clifford ChanceZhang David Kirkland&Ellis*Band 2Emsley Matt Herbert Smith FreehillsLam Celia Simpson Thacher&Bartlett*Lin James C Davis Polk&Wardwell LLP*Ng Kay Ian Sullivan&Cromwell LLPWang Tim Clifford Chance LLPWong Christopher Simpson Thacher&Bartlett*Yeung Cathy Latham&Watkin

199、sBand 3Chan Freeman Cleary Gottlieb Steen&Hamilton LLP*Chow Ronny Deacons*Choy Constance Sidley Austin*Lai Calvin Freshfields Bruckhaus Deringer*Li Haiping Skadden,Arps,Slate,Meagher&Flom LLP*Moore John Slaughter and MayThio Jean Clifford Chance LLPYu Benita Slaughter and MayBand 4Geng Ke OMelveny&M

200、yers LLPHsui Jonathan Allen&OveryLau Sherlyn Sidley Austin*Law Colin Fangda PartnersLee Lina Allen&OveryLi Gilbert LinklatersLi Raymond Paul Hastings*Li Sammy Hogan Lovells International LLP*Lu Mengyu Kirkland&Ellis*Luk Edwin Morgan,Lewis&Bockius LLP(ORL)Su Benjamin Latham&WatkinsTai Psyche Norton R

201、ose FulbrightWang Paloma Skadden,Arps,Slate,Meagher&Flom*Wang Richard Freshfields Bruckhaus Deringer*Wong Gwen Sullivan&CromwellZhao Shuang Cleary Gottlieb Steen&Hamilton LLP*Band 5Kwok Edwin OMelveny&MyersTang Nelson Hogan Lovells International LLP*Up-and-coming individualsChu Yang Davis Polk&Wardw

202、ell LLP*Fang Liu Clifford ChanceGao Yi Simpson Thacher&Bartlett*Lee Virginia Clifford ChanceOuyang Dan Wilson Sonsini Goodrich&RosatiLeading IndividualsCapital Markets:E Capital MarketsChina(International Firms)hybrid,panda and dim sum bonds.Able to offer Hong Kong and US legal advice on cross-borde

203、r offerings.Consistently represents leading inter-national and Chinese banks and investment cor-porations,with key clients including JD.com,CICC and HSBC.Strengths A client says:“Generally speaking,Clifford Chance outperforms others significantly in terms of acting as either issuers or underwriters

204、counsel,execution and maintenance of the deal timetable,handling sophisticated structures and restrictions from regulators and liaising with dif-ferent counterparties smoothly.”“Their team are very solid in this space and under-stand the latest regulatory developments and frameworks well;their globa

205、l network also provides good support for issuer clients that have a global operation,”states another interviewee.A client remarks:“They are so professional,whether acting as issuers or underwriters counsel,”and adds:“As Clifford Chance are involved in many transactions,they can always provide suitab

206、le and professional advice to us with their experience.”Work highlights Clifford Chance advised the joint sponsors and underwriters including Morgan Stanley,Bank of America and China Renaissance Securities on Kuaishou Technologys USD5.4 bil-lion IPO and listing on the main board of the Hong Kong Sto

207、ck Exchange.Clifford Chance advised on the restructuring of certain listed exchangeable bonds issued by a member of Haier Smart Home,amending the terms of the exchangeable bonds such that they effectively became convertible bonds.Notable practitionersConnie Heng is head of Clifford Chances DCM team

208、in Hong Kong and advises domestic and international banks as underwriters,as well as assisting Chinese clients with a range of invest-ment-grade issuances.A client appreciates that she is“very experienced and can mobilise the firms resources and lead her team to provide best-in-class legal services

209、for clients.”Amy Lo is co-head of Clifford Chances ECM team in Hong Kong and a veteran equity capital markets lawyer who han-dles some of the teams heftiest IPO mandates,lately acting for major clients in the pharmaceu-tical,entertainment and beverage sectors.Market sources describe her as“a leader

210、in her field”and single her out for her“visibility and experience.”Alan Yeung of Clifford Chances Hong Kong office remains at the helm of a top-tier high-yield debt practice.A client enthuses:“You can trust Alan will give you the level of confidence where you know youre protected and the deal struct

211、ure is robust;if Alan approves then I know its good.”A second client is similarly confident:“If I know Alan is on my project,the rest is all assured;the level of trust speaks for itself.Alan is a problem solver with sophistication and delicacy in handling conversa-tions,and as a veteran,he himself h

212、as witnessed the ever-changing industry dynamics and has been evolving with them.I truly look up to his advice as my trusted adviser.”Tim Wang co-leads the equity capital markets practice and is best known for acting for domestic issuers on their SEHK IPOs.A market commentator notes that he is“a ver

213、y big rainmaker”for Clifford Chances Hong Kong practice.Jean Thio continues to advise both underwriters and issuers on SEHK listings,as well as London GDR listings.She is based in Clif-ford Chances Shanghai office.Angela Chan reg-ularly advises on the issuance of exchangeable bonds,offshore offering

214、s and MTN programmes.A source describes her as“technically strong with good Mandarin and English,”noting that she“does well with clients.”A client considers her“resourceful in coming up with solutions for clients from a legal perspective.”David Tsai offers Clif-ford Chances clients nearly 15 years e

215、xperience advising on a range of transactions associated with investment-grade issuances,including Reg S,dim sum and green bonds.A client notes that he is“responsive and able to manage issuers and underwriters well,”while a second client affirms:“He is highly responsive and very reliable.”Mark Chan

216、is well regarded for advising on a range of bond issuances,including sustainability-linked bonds and dim sum bonds.A client praises him for being“very diligent,”noting that he“pulls all-nighters and is very helpful on stuff that isnt trans-actions as well,taking calls to advise on anything and expla

217、in things to me.”One client likes that“he is very commercial but will also tell you his views if something doesnt work.”Fang Liu frequently advises issuers on their Hong Kong IPOs.His clientele includes banks,pharmaceutical com-panies,entertainment companies and invest-ment holding groups.Virginia L

218、ee is a rising ECM partner who advises a number of prominent cli-ents on Hong Kong IPOs.Of late,she has advised on a concurrent take-private and listing.Davis Polk&Wardwell LLPWhat the team is known for Davis Polk&Ward-well is a capital markets powerhouse with a superb reputation in high-value,cross

219、-border equity matters,including some of the top IPOs and follow-on offerings in the region.Experienced adviser on international ADS offerings in the USA.Also well known for its debt work,representing issuers and underwriters on major note and equity-linked bond offerings.Additionally highly respect

220、ed for its work in the high-yield space,with a steady flow of repeat and debut issuances from clients in the real estate,education,oil and gas,and automotive sectors.Robust bench of Hong Kong-based partners advising clients on matters involving US,English and Hong Kong law.Familiar with US regulator

221、y bodies and the requirements of jurisdictions around the region.Regularly advises on transactions relating to infrastructure,real estate and key commodity markets.Key cli-ents include New Horizon Health,Adegene and Provident Acquisition.Strengths A client reports:“The overall service was high quali

222、ty;Davis Polk&Wardwell is one of the major participants in the DCM market,espe-cially in the high-yield field,so the team have very good deal experience in terms of deal flow and deal types;their ample deal experience has helped us with a lot of unique transactions and creative struc-tures.”A second

223、 client believes the team are“very expe-rienced in the capital markets space and can advise on transactions across the risk spectrum.”The same client says:“They are always on standby to answer requests and communicate clearly and effi-ciently in both English and Mandarin,with great commercial sense.

224、”A third client highlights the teams ability to“fully understand the clients business and issues and provide time-sensitive solutions.”Work highlights Davis Polk&Wardwell advised New Horizon Health in connection with its USD263 million IPO and listing on the SEHK and an international Rule 144A and R

225、egulation S offering.Advised Zhejiang Expressway in connection with its Regulation S offering of EUR230 million zero coupon H-share convertible bonds due 2026.Advised the initial purchasers in connection with a USD250 million Regulation S-only offering of China South City Holdings 10.750%senior note

226、s due 2023,while also advising the dealer managers in connection with a cash tender offer by the client for its outstanding USD250 million 7.250%senior notes due 2021.Notable practitionersHe Li(see p.102)is a linchpin of Davis Polks equity capital markets team in Hong Kong and regularly acts for dom

227、estic clients on ADS issuances.A client notes that he is“highly experienced,very responsive,knowledgeable and capable of pro-viding solutions.”James Lin(see p.108)is an adept adviser on IPOs and follow-on offerings on the SEHK,NYSE and Nasdaq.Of late,he has advised on SPAC and ADS IPOs for a range o

228、f issuers.Ger-hard Radtke(see p.112)is leader of Davis Polks China DCM practice and an expert on a range of debt mandates,with particular emphasis on high-yield issuances.One client enthuses:“For the most complicated and sophisticated situations with no precedent in Asia,Gerhard would be the first p

229、erson I would call;hes my top choice for individual expertise on very complicated situations and quickly gets to the key issues.”Chu Yang(see p.97)is primarily focused on handling SEHK list-ings,with noted strength in the biotech and health sectors.A client asserts:“Hes highly capable and experience

230、d as an individual,especially when dealing with complicated transactions.”DeaconsWhat the team is known for Solid practice with extensive local expertise and a long history of acting on equity matters.Deacons regularly advises sponsors and underwriters on IPOs and listings on the SEHK,as well as on

231、share place-ment transactions.Also demonstrates experience handling cross-border debt issuances.Active on issuances ranging from MTN programmes to sovereign and silver bonds.Established record acting for clients in the healthcare,construction and finance industries,with key clients including BNP Par

232、ibas Securities,BOCOM International and AVIC International Leasing.Strengths A client reports:“Deacons has a stable and sizeable team of capital markets lawyers that can deliver work in an efficient way.The team are professional,knowledgeable,responsive and handle everything with due care and dilige

233、nce.They are always there to go the extra mile for us.”A client highlights Deacons strength in offshore bond issuances,commenting:“Deacons have also shown their strength in educating issuers,espe-cially those who are doing offshore debt issuance transactions for the first time.”Another client simply

234、 remarks:“Deacons has been helpful and responsive on any matter that arises.”Work highlights Deacons advised the joint spon-sors Haitong International Capital and CMB International Capital and underwriters in relation to the HKD3.44 billion main board SEHK IPO of Excellence Commercial Property&Facil

235、ities Management Group.Advised Bank of China as the issuing and lodging agent as to Hong Kong law on the CNY bill issu-ances by The Peoples Bank of China in Hong 10China(International Firms)Capital Markets Kong from February to December 2020,totalling CNY155 billion.Notable practitionersRonny Chow(s

236、ee p.96)is a key player in the Dea-cons ECM practice,regularly leading its advice on Hong Kong IPOs.A client appreciates that“Ronny is always available when we need him,and despite his busy agenda he is responsive and helpful.He has good commercial and financial sense and can always provide us with

237、constructive advice.”Another client likes that he is“very knowledgeable and experienced in handling all sorts of difficult deals.”Kevin Tong(see p.116)remains a driving force of Deacons debt issuance work,often advising on the establishment and updating of MTN programmes.One client reports:“Kevin an

238、d his team are very knowledgeable in the area and are always efficient in providing assistance,”while another notes that he is“responsive and friendly to his clients.”Fangda PartnersWhat the team is known for Fangda Partners offers an increasingly prominent ECM practice with a growing team of experi

239、enced international capital markets lawyers based in Hong Kong.Recognised for notable activity assisting clients with IPOs.Also well equipped to advise on debt issuances,with a notable expertise in panda bond issuances.Key clients include Asian Infrastruc-ture Investment Bank,Crdit Agricole and Huat

240、ai Securities.Strengths A client enthuses:“I would highly rec-ommend Fangda Partners;they are an extremely knowledgeable and efficient law firm specialising in capital markets and have a very impressive team both in Hong Kong and in Mainland China,with excellent resources internationally.”Work highl

241、ights Fangda Partners advised Asian Development Bank on its application for the reg-istration of its CNY2 billion panda bond issuance programme and the inaugural offering under the programme,as well as drawing up all transaction documents and other related documents in Eng-lish and Chinese.Assisted

242、JW(Cayman)Therapeutics with drafting a prospectus,as well as advising on the implica-tions of a US acquisition and other regulatory con-cerns relating to its USD400 million IPO.Notable practitionersColin Law continues to advise both underwriters and issuers on IPOs,H-share offerings and share placem

243、ents from Fangda Partners Hong Kong office.Of late,he has advised clients in the health-care and TMT sectors.Freshfields Bruckhaus DeringerWhat the team is known for Freshfields Bruck-haus Deringer maintains its reputation as a stellar ECM practice,handling some of the largest and most complex deals

244、 in the market from its Hong Kong office.Respected for advising both Chinese and foreign issuers and bookrunners on IPOs,H-share spin-off listings and block trades.Also skilled on the DCM front,acting for issuers and underwriters on both US dollar and renminbi-de-nominated offerings.Active on a rang

245、e of sizeable work under medium-term note programmes,as well as on convertible and green bond issuances.Often active on transactions relating to the trans-port,pharmaceutical and healthcare industries,with key clients including Alibaba Health Infor-mation Technology,Budweiser Brewing Company and Agr

246、icultural Bank of China.Strengths One client believes that“Freshfields is overall the strongest and most balanced law firm for Hong Kong IPOs,”remarking:“Since they have handled so many cases of different natures,they are able to offer advice on basically everything.”A second client notes that“Fresh

247、fields can always understand what their clients needs are and come up with professional advice to address the clients concerns.”One client asserts:“Issuers trust them,and Fresh-fields have a good reputation in the Hong Kong cap-ital markets space in general.”Work highlights Freshfields acted as the

248、Hong Kong legal advisers to the sponsors,joint global coordinators and joint bookrunners on the USD2.2 billion secondary listing of Yum China Holdings.Advised Shaanxi Financial Asset Management on its debut issuance of USD200 million 3.20%bonds due 2024.Notable practitionersGrace Huang(see p.103)co-

249、heads Freshfields global capital markets group and is a widely respected specialist adviser on all manner of equity capital markets transactions.A client appreciates that“Grace is very technically strong and can always give advice on the spot,”and they add:“She is also the most hands-on partner;you

250、can count on her help the whole time.”This sen-timent is echoed by a second client,who states:“Shes both highly responsive and technically strong.”Teresa Ko advises on some of Freshfields weightiest listings and draws on a deep well of regulatory expertise,reflected in her position as co-chair of HK

251、EXs Listing Review Committee.A client asserts:“Shes definitely a well-respected and highly experienced leader with extensive knowledge of Hong Kong capital markets.”Another client reports:“Teresa Ko is a steady hand who is focused on finding practical solutions to tricky issues.”Guang Bing leads Fre

252、shfields China DCM practice and is well regarded by Chinese SOEs and corporates for assisting them with debt issuances and raising funds.A client likes that he“understands the culture of PRC banks and has language skills to facilitate the communication throughout the whole project.”A second client s

253、imilarly states:“Bing is a very experienced lawyer who understands Chinese culture very well and can easily spot the key points of a problem and pro-vide us with the most effective solutions.”Andrew Heathcote is head of Freshfields Asia finance practice and advises on a range of DCM issuances for Ch

254、inese SOEs and private companies.A client describes him as“helpful and flexible.”Calvin Lai(see p.105)is noted for his dual US and Hong Kong IPO expertise,handling prominent IPOs,spin-off listings and rights issues.A client observes that he is“extremely hands-on and has done a tremen-dous job resolv

255、ing seemingly unresolvable issues.”Richard Wang(see p.117)advises Chinese issuers and bookrunners on SEHK listings.A client of Freshfields enthuses:“Hes one of the most out-standing attorneys we have worked with.I have personally worked with multiple global firms,but Richards ability to help resolve

256、 our issues,as well as his experience and expertise,was outstanding.”The same client adds:“His personality was also great and he got along with everyone from the chairman to our associates.”One client extols his regulatory expertise,stating:“Richard Wang is very familiar with all Hong Kong listing r

257、ules and the development of practices in Hong Kong IPOs.”Herbert Smith FreehillsWhat the team is known for Respected ECM team spanning Hong Kong IPOs and secondary offer-ings.Familiar with acting on large-scale rights issuances.Additionally well regarded in debt matters,advising issuers and underwri

258、ters on investment-grade bonds and MTN programmes.Expertise spans convertible and exchangeable issuances,as well as trustee representation.Fre-quently represents clients in the healthcare,tech-nology and biopharma sectors.Key clients include Central Wealth Securities Investment,Haitong Bank and JP M

259、organ.Work highlights Herbert Smith Freehills acted for the Hong Kong Monetary Authority on the Gov-ernment of the Hong Kong Special Administrative Region of the Peoples Republic of Chinas retail bond programme and the issuance of HKD10 bil-lion silver bond series retail bonds due 2023 and HKD10 bil

260、lion iBond series retail bonds due 2023.Advised the sponsors and underwriters,including Credit Suisse and BofA Securities,on the HKD10.13 billion global offering and the sec-ondary listing of New Oriental Education&Tech-nology Group on the Hong Kong Stock Exchange.Notable practitionersMatt Emsley is

261、 the head of Herbert Smith Free-hills ECM team in Hong Kong and a trusted adviser to banks and funds on a variety of ECM work.A client states:“He is a seasoned counsel and can provide trusted advice on key matters.”William Ku is co-head of Herbert Smith Free-hills DCM team and is recognised for his

262、focus on advising Chinese clients on debt issuances.A client enthuses:“William is always available,which is important,especially where we have transactions running around the clock in different time zones.Hes always happy to talk us through any points and,when the going gets tough,to negotiate with

263、opposing counsel on any hard points.”Another client appreciates his“clear and considered advice.”Hogan Lovells International LLPWhat the team is known for Hogan Lovells offers clients a Hong Kong-based equity capital markets team with regional capabilities.Primarily noted for a strong track record o

264、f advising issuers,sponsors and placing agents on Hong Kong IPOs,with additional expertise in US IPOs.Also well equipped to handle rights issues and listing trans-fers.Key clients include China Everbright Capital,Ballas Capital and DBS Asia.Strengths A client enthuses:“The Hogan Lovells team provide

265、d efficient and professional services and helped us pre-empt a lot of potential pitfalls.I would certainly rate them highly.”“I think theyre quite impressive,with offices around the region and the ability to handle complicated sit-uations,”adds another interviewee.Work highlights Hogan Lovells advis

266、ed the issuer,Central China New Life,as to Hong Kong law on its HKD2 billion IPO and listing of shares on the main board of the Hong Kong Stock Exchange.Notable practitionersSammy Li(see p.108)is the head of Hogan Lovells corporate department in Hong Kong and continues to advise on Hong Kong IPOs,of

267、ten acting for sponsors and underwriters.A client says:“Given his background of involvement with investment banks and his years of experience,he offered very good commercial and practical advice to us.His understanding of the regulators con- Capital MarketsChina(International Firms)cerns is clearly

268、very good.”Nelson Tang(see p.115)remains a solid adviser on Hong Kong IPOs,top-up placements and listings transfer mandates,and is one of the co-heads of Hogan Lovells ECM team.A client notes that he is“very professional and knowledgeable and can always deliver practical solutions to address our bus

269、iness needs.”King&Wood MallesonsWhat the team is known for King&Wood Mallesons enjoys a solid reputation for its work representing a range of clients on straight debt and convertible offerings,as well as tender offers and consent solicitations.Able to advise on panda bonds,as well as euro and Singap

270、ore dol-lar-denominated offerings.Also enjoys a growing reputation for representing Chinese issuers on high-yield work.Additionally the team remains active on notable Hong Kong IPOs.Integrated group that is able to provide US,UK,PRC and Hong Kong law advice.Particularly strong repu-tation on PRC-rel

271、ated matters due to its network of offices there.Key clients include HSBC,J.P.Morgan and China Merchant Securities.Strengths A client praises King&Wood Mallesons“very good work quality,”explaining:“They helped the issuer to get a better understanding of what would be required by the underwriters to

272、get a deal done.I like having them on a deal as I can rely on their quality of work to get a deal priced smoothly,with each party satisfied in the negotiations.”A client asserts:“They are very responsible,responsive and easy to communicate with the best counsel team Ive ever met.”One client enthuses

273、:“Their consistent perfor-mance demonstrates a high level of professionalism and always exceeds our expectations.They have demonstrated in-depth knowledge of the market and regulations,and their team have been able to help us anticipate and provide various practical approaches in order to avoid key

274、challenges.”Work highlights King&Wood Mallesons advised Industrial Bank in connection with its issuance of the aggregate equivalent of USD837 million in USD and HKD dual-tranche senior notes.Advised BNP Paribas,BOCI Asia,CICC,ICBC,Oversea-Chinese Banking Corporation,Bank of East Asia and Yue Xiu Sec

275、urities as the joint lead managers on the first-time issuance of USD500 million 4.50%senior notes due 2026 and USD500 million 4.85%senior notes due 2028 by Cham-pion Path Holdings.Advised Guotai Junan Capital as the sole sponsor and other underwriters on the HKD662 million IPO and the listing of the

276、 H-shares of Financial Street Property on the SEHK.Notable practitionersZhou Hao is co-chief executive of King&Wood Mallesons Hong Kong office and recognised as having dual expertise in both investment-grade and high-yield debt offerings.One source remarks:“Zhou Hao has a very strong commer-cial sen

277、se and is well loved by the bankers,”while a separate client reports:“Hes a very respected lawyer in Asia who is very experienced,professional and down to earth.”Michael Lu is a driving force in King&Wood Mallesons Hong Kong DCM practice and leading matters ranging from the establish-ment of MTN pro

278、grammes to tender offers to the issuance of exchangeable bonds.A client states approvingly:“He is solid,skilful and professional in acting in his clients best interests,especially when it comes to negotiations.”One client extols his technical acumen,stating:“Michael Lu is our to-go partner on all te

279、chnical issues;hes extremely diligent and very approachable.”Kirkland&EllisWhat the team is known for Kirkland&Ellis offers a highly active ECM practice,much admired for its consistency and visibility on high-profile deals.Strong track record of acting for international and local businesses and inve

280、stment banks on US and Hong Kong IPOs.Additionally handles a range of secondary offerings in Hong Kong and New York.Maintains strong relationships with regulators.Hong Kong and New York qualified team with Chi-nese language capabilities,well placed to advise on listings on a variety of stock exchang

281、es.Often advises on significant deals in Chinas TMT and life sciences sectors.Key clients include Wynn Macau,Chindata Group Holdings and SVF Investment.Strengths A client notes that the team are“very capable and get the job done;theyre a safe pair of hands.”One client appreciates Kirkland&Elliss bro

282、ad offering,commenting:“We can get the one-stop service we need,from early investment to acquisi-tion to IPO to restructuring.”Work highlights Kirkland&Ellis represented a number of underwriters,such as UBS Securities,HSBC Securities,China PA Securities,Morgan Stanley,CLSA,Jefferies,J.P.Morgan Secur

283、ities,BOCI Asia,Haitong International Securities,Stifel,Nicolaus&Company and KeyBanc Capital Markets,in Lufax Holdings USD2.36 billion IPO of American depositary shares on the New York Stock Exchange.Notable practitionersDavid Zhang(see p.120)heads Kirkland&Elliss Asia capital markets practice and c

284、ontinues to lead many of the firms most prominent ECM mat-ters.Sources acknowledge his importance in the firms key client relationships,with one stating:“Hes quite a rainmaker.”Lu Mengyu(see p.109)has notable experience in acting for life sciences and biotech clients,with a strong track record of ad

285、vising on 18A IPOs.A client comments:“She managed the whole process and worked very hard.Shes been very prompt,responsive and time-effi-cient,and has done a very good job.”Latham&WatkinsWhat the team is known for Well-balanced prac-tice assisting clients on ECM,investment-grade debt and high-yield w

286、ork.Latham&Watkins continues acting on a wide range of debt trans-actions,working on deals originating in China and abroad,regularly assisting Chinese SOEs and private companies,often acting for property developers and industrial clients.Notably active advising on convertible bonds and other hybrid

287、issuances.ECM team has a strong track record of acting on significant IPOs for clients in the health-care,technology and finance industries.Offers an integrated team with US,Hong Kong and UK law capabilities.Key clients include China National Chemical Corporation,Connect Biopharma Hold-ings and Meta

288、llurgical Corporation of China.Strengths A client reports:“I have found Latham&Watkins to be extremely thorough;they believe in giving the best output to the client and I have never seen any slack in their work.”A client comments the team for“always being generous with their knowledge and experience

289、 sharing,”praising their“superior dedication and down-to-earth work style,”while remarking:“I have never come across such a level of detailed and well-organised deal filings.”One client states:“Latham&Watkins has a strong team with excellent lawyers who are very invested in our business.”Work highli

290、ghts Latham&Watkins advised Kuaishou Technology on its USD6.2 billion IPO and 144A/Regulation S offering on the main board of the Stock Exchange of Hong Kong.Advised BofA Securities,J.P.Morgan,Goldman Sachs,Morgan Stanley,Bank of China,Credit Suisse,Deutsche Bank,HSBC and Mizuho Secu-rities as under

291、writers on the offering of USD300 million 1.375%notes due 2025 and USD500 mil-lion 2%notes due 2030 by Tencent Music Enter-tainment Group.Advised eHi Car Services on its offering of USD300 million 7.75%senior notes due 2024.Notable practitionersCathy Yeung is global vice chair of capital mar-kets at

292、 Latham&Watkins and is well equipped to advise clients on high-profile IPOs and sec-ondary listings.Of late,she has handled a range of notable listings in the TMT,healthcare and biopharmaceutical sectors.Liu Ji is an integral part of Latham&Watkins investment-grade and high-yield debt teams in Hong

293、Kong,fre-quently advising PRC real estate companies and industrial clients as issuers,as well as advising bookrunners.A client says:“Hes a very seasoned and experienced high-yield counsel,having worked in the US and having Chinese language abilities.”Benjamin Su is best known for his work on equity

294、offerings and is noted for his attentive approach and his expertise in US IPOs.One client reports:“Benjamin is very familiar with US capital markets and has become the first person I would contact in case of any US capital markets issues.”This is sec-onded by another client,who states:“Ben always br

295、ings a valuable perspective and advises on the transactions based on his years of experience and solid knowledge of US securities laws,especially when we come across uncommon deal situations.”LinklatersWhat the team is known for Linklaters Hong Kong-based debt team boasts a very strong rep-utation f

296、or its work on both straight and hybrid bond offerings.Notable experience on large green and sustainability bond issuances.Also well known for its specialist focus on commercial paper and renminbi bond offerings.Increasingly prominent in handling complex high-yield note offerings.Additionally,fields

297、 a well-respected equity practice which often handles significant IPOs,follow-on offerings and block trades.Uni-fied practice advises clients on English,US and Hong Kong law issues.Regularly acts for major Chinese and international banks and Hong Kong-listed companies,as well as a robust stable of S

298、OEs.Key clients include China Aoyuan Group,the Ministry of Finance of the Peoples Republic of China and ICBC.Strengths A client reports:“Linklaters have a really strong team that is client-focused and well connected with issuers and banks,”adding that they believe the team also“has the deepest bench

299、 among UK and US firms spread across the major finance centres in the region.”Another client praises the team for being“very responsive and in depth at all levels,from partners to associates to legal assistants;they provide very 12China(International Firms)Capital Markets detailed comments.”One clie

300、nt says:“Compared with other firms,Lin-klaters has an enviable track record of advising major financial institutions on the one hand and,on the other hand,issuers of a wide range of credit profiles,from sovereign credit to high-yield issuers.This enables the team to provide solutions to all kinds of

301、 difficult legal and commercial issues.”Work highlights Linklaters represented the joint lead managers in connection with a USD2.5 billion issuance under the HKD100 billion global medium term note programme of the Hong Kong govern-ment.Advised China Aoyuan Group on the issuance of USD1.39 billion in

302、 high-yield senior notes.Advised Blue Moon Group Holdings on its USD1.27 billion IPO and listing on the main board of the Hong Kong Stock Exchange.Notable practitionersWilliam Liu of Linklaters Hong Kong office offers clients deep expertise in investment-grade DCM mandates,with additional strengths

303、in high-yield products.A client asserts that“William is one of the top debt capital markets lawyers in Hong Kong.Theres no doubt in his professional com-petency.”Another client remarks:“William is the most respected lawyer Ive come across in Asia.”Michael Ng regularly acts for Linklaters Chinese ban

304、king and financial institution clients on off-shore bond offerings,as well as advising on MTN programmes and assisting with debt restruc-turing and transactions.A client notes that he is“very responsive and experienced with challenging issues and finding thoughtful solutions;he does a great job addr

305、essing the frequent challenging issues that come up in the region.”Another con-siders him“hands-on and technically excellent,”stating:“His advice is always clear and comprehen-sive,and he has strong value-add on transactions.”Hwang Hwa Sim is head of Linklaters global capital markets practice and ha

306、s a broad DCM practice spanning convertible bonds,foreign currency-denominated notes and panda bonds.One client describes him as a“go-to contact,”while another asserts:“Hes excellent in the con-vertible bond space.”Terence Lau is noted for his investment-grade DCM practice,which includes advising on

307、 offshore and green bond issuances.A client considers him“one of my favourite law-yers”and one who“understands the situation and tries to work it out.”A second source notes that he is“technically very gifted,”describing him as a“walking encyclopedia.”Gilbert Li is co-head of Linklaters Greater China

308、 ECM practice and has a broad ECM practice which,though not limited by sector,is strong in biotech.One client describes him as“very hands-on and responsive,with good commercial awareness,”while a second client notes that his“advice is proper and the analysis diligent and meticulous.”Gloria Cheung of

309、ten advises Hong Kong and PRC financial institutions and government entities on a variety of debt cap-ital markets transactions,including government green bond issuances and issuances under MTN programmes.A client reports that she is“very good and looks at things very closely,”declaring:“I think Glo

310、ria is most diligent and responsible as a lawyer.”Sherry Cui is a rising Linklaters partner whose native Mandarin proficiency is a great asset to public and private clients alike,regularly handling both onshore and offshore CNY offer-ings.A client remarks that she is“excellent and has full coverage

311、and a full grasp of all the issues we face on Chinese transactions.”A second client enthuses:“Sherry Cui is my go-to lawyer when I have difficult issues.She always goes the extra mile to help me and is very experienced,pragmatic and knowledgeable,with a good understanding of the commercial imperativ

312、es of transactions.”Jiang Shan is a New York-qualified lawyer based in Lin-klaters Hong Kong office who is well regarded for advising both banks and underwriters on the issu-ance of high-yield products.A client describes him as“very professional,helpful,passionate and experienced;I think Shan is the

313、 rising star in the industry.”A second client says:“His expertise in US law and high-yield products and his familiarity with local developments enables him to provide commercially efficient and effective advice to banks,even under tight timetables.Besides his knowledge in the legal space,Mr Jiangs c

314、ommer-cial awareness and knowledge in business,finance and relevant industries make him a well-rounded lawyer,which is especially important for high-yield transactions.”Mayer BrownWhat the team is known for Established track record in advising international and Chinese busi-nesses on major DCM and h

315、ybrid products,with Eurobonds being a particular area of expertise.Mayer Brown has experience of advising on DCM matters in high-growth markets such as Mongolia,Vietnam and Indonesia from its office in Hong Kong.Able to advise on high-yield covenants,as well as investment-grade offerings,including s

316、ov-ereign bond issuances.Regularly acts for some of the worlds largest investment banks advising trustees.Key clients include the Republic of Indonesia,Saigon-Hanoi Commercial Bank and Vietnam Prosperity Joint Stock Commercial Bank.Strengths A client praises Mayer Browns“prag-matic and practical adv

317、ice,”stating:“Theyre excel-lent at that and good on fees.”Another client highlights the teams strength advising trustees:“The benefit they bring is that they are pretty much brought in on every single deal by counsel,so theyve seen every precedent and standard,so they know exactly what can be accept

318、ed and what cant.”Work highlights Mayer Brown advised on Mongo-lian Mortgage Corporations issuance of USD250 million 8.85%senior notes due 2024 and con-current tender offer for the issuers outstanding 9.75%senior notes due 2022.Played an advisory role in the USD600 million 5.125%bonds due 2026 issue

319、d by the Govern-ment of Mongolia and concurrent offer to repur-chase 10.875%senior notes due 2021 and 5.125%senior notes due 2022.Notable practitionersJason Elder(see p.543)is head of Mayer Browns debt team and maintains a noted focus on high-yield issuances,with recent transactions span-ning variou

320、s jurisdictions across Central and Southern Asia.A client describes him as a“go-to on regulatory matters and technical issues”and asserts that he is“excellent.”Thomas Kollar(see p.104)boasts a robust practice in both invest-ment-grade and high-yield offerings across the region,with notable experienc

321、e advising on Mon-golia-related matters,a track record reflected in his position as head of Mayer Browns Mongolia practice.A client observes that he is“extremely strong technically,detail-oriented and in the weeds on all those transactions.Hes just a great guy to have working on your deals and reall

322、y does a great job working cooperatively with many different par-ties in dealing with challenging issues.”Milbank LLPWhat the team is known for Milbank offers a strong Hong Kong-based team with a regional focus,mostly notably with regard to Philippines expertise and with additional strengths in matt

323、ers spanning India and Vietnam.The team regularly advises underwriters on USD bond issuances,while also handling convertible bond offerings and exchange offers.Key clients include Goldman Sachs,Morgan Stanley and BNP Paribas.Strengths A client remarks:“Their client dedica-tion,senior sponsorship and

324、 responsiveness are very helpful in deal execution.The knowledge base and depth of experience from the partners is also a unique asset for Milbank.”A second client considers the team“practical,flexible and very experienced.”One client claims:“Their response time and quality of advice are consistentl

325、y among the top percentile of firms we work with.”Work highlights Milbank advised UBS and others as the underwriters in connection with Times China Holdings issuance of USD350 million 6.2%senior notes due 2026.Notable practitionersTao Liang(see p.115)(Alex Tao)remains a key figure in Milbanks high-y

326、ield products team.A client enthuses:“Ive always been happy with his approach to being able to bridge the pro-cess between issuer and bank;hes got very good knowledge and deep connections.”A second client asserts:“Alex Tao is one of the senior gurus when it comes to Asia high-yield debt capital mark

327、ets.His experience in documentation and standard of exe-cution is highly valued by issuers and banks,and his depth and breadth of knowledge always sheds light on complex situations.”James Grandolfo(see p.663)earns a ranking for a consistent track record of advising on debt issuances relating to the

328、Philippines from his base in Milbanks Hong Kong office.A client reports:“Jim is a senior partner who is very experienced and well con-nected,”while another client notes that“Jim Gran-dolfo is on almost all our Philippines bond deals and is very knowledgeable.”Morrison&Foerster LLPWhat the team is kn

329、own for Morrison&Foerster is well respected and active in the equity sphere,regularly advising major Hong Kong and PRC com-panies on their IPOs and secondary offerings.Also assists clients with major rights issuances.Expe-rienced team able to provide both Hong Kong and US legal advice.Maintains soli

330、d relationships with PRC investment banks,earning plaudits for its understanding of the PRC legal context.Handles a range of ECM-linked cross-border transactions involving companies listed in Hong Kong.Key cli-ents include Greenland Hong Kong Holdings,the controlling shareholders of Shenzhou Interna

331、-tional Group Holdings and Alibaba Group Holding.Strengths A client reports:“We choose Morrison&Foerster because they are a respectful inter-national law firm that provides excellent-quality work products.They are very accessible at partner level,which is a quality we value very much in the market.”

332、The same client also notes:“Their legal advice is always combined with practical solutions and business acumen.” Capital MarketsChina(International Firms)Work highlights Morrison&Foerster repre-sented the joint sponsors,CLSA Capital Markets and Huatai Financial Holdings,and underwriters in relation

333、to Jinke Smart Services approxi-mately HKD6 billion IPO on the Hong Kong Stock Exchange.Notable practitionersVenantius Tan,Vivian Yiu and Huang Ke are key contacts at the firm.Norton Rose FulbrightWhat the team is known for Norton Rose Ful-bright is best known on the ECM side,where it acts for a range of underwriters and issuers on IPOs and secondary offerings from its Hong Kong office.Particularl