Harneys advises Pioneer Reward Limited on its establishment of US$3 billion guaranteed medium term note programme and US$800 million issuance of listed notes
Harneys acted as BVI counsel in respect of the establishment of Pioneer Reward Limited's US$3,000,000,000 guaranteed medium term note programme to be listed in Hong Kong and Singapore, and its issuance of US$800,000,000 5.25 per cent notes under such programme listed in Hong Kong.
Pioneer Reward Limited is a subsidiary of Huatai International, which is part of the Huatai Securities Co., Ltd. group. Established in 1991, Huatai Securities is a leading integrated securities group in China, with a substantial customer base, a leading e-platform, and a highly collaborative full-service business model. The aforementioned medium term note programme is guaranteed by Huatai Securities Co., Ltd.
Global Head of Banking & Finance and Corporate groups and Hong Kong Managing Partner Paul Sephton, Senior Associate Oswald Kan, and Legal Manager Natalie Chan advised the client. King & Wood Mallesons and DeHeng Law Offices also advised the issuer.
Paul commented: “It is our pleasure to have worked with the Huatai team. We look forward to many more collaborations in future.”
The Banking & Finance practice group at Harneys has decades of experience in offshore credit and security legal issues relating to debt finance, including loan finance, debt issuance, lease financing, shariah compliant finance, distressed debt and enforcement of security and derivatives. The team’s deep understanding about the business environment in which their clients operate help build strong networks with industry players and service providers in key markets around the world.