Ogier advises on first foreign company Panda bond on Shanghai SE

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Ogier has advised one of the world’s biggest aluminium producers on the first ever Panda Bond offering by a foreign company outside of the interbank market on the Shanghai Stock Exchange.

The firm acted for United Company Rusal, which is offering a three-year bond to private investors and is seeking to raise up to $1,450,000,000.

The offering will be launched in a number of tranches.  The first tranche to be offered to private investors in China will be up to $145,000,000.

The listing is also the first Russian Panda Bond offering – the name given to overseas debt sold in the Chinese market.

Rusal first registered a Panda Bond prospectus in December 2016 in China after being given an AA+ corporate credit rating by China’s largest credit rating agency. The Moscow-headquartered company is one of the world’s biggest aluminium producers, operating in 19 countries on five continents.

Partner Sara Johns from Ogier’s Jersey corporate law team, worked with managing associate Alexander Curry on the project.

The post Ogier advises on first foreign company Panda bond on Shanghai SE appeared first on The Lawyer | Legal News and Jobs | Advancing the business of law.



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