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Harneys advises Sinochem on its CHF250 million notes issue

17 June 2015

Harneys acted as BVI counsel to Sinochem Group on the issue of CHF250 million guaranteed notes. The notes were issued by a BVI incorporated special purpose vehicle, Sinochem Offshore Capital Company Limited, and are listed on the SIX Swiss Exchange.

Sinochem’s core businesses span over energy, agriculture, chemicals, real estate and financial services. It is one of China’s four state oil companies, being China’s biggest agricultural input company (fertilizer, seed and agrochemicals) and chemical service company. Sinochem currently owns more than 300 subsidiaries inside and outside China. It controls several listed companies including Sinochem International (SH, 600500), Sinofert (HK, 00297) and Franshion Properties (HK, 00817), and is the largest shareholder of Far East Horizon (HK, 03360).

UBS and HSBC were the joint-lead managers on this transaction. Harneys acted as counsel to Sinochem together with Mayer Brown JSM (advising on English, Hong Kong and US law) and Tian Yuan Law Firm (advising on PRC law).

Partner Jonathan Culshaw and senior associate Monica Chu of Harneys’ Hong Kong office advised on this transaction.