ADBC’s first dim sum bonds to combat coronavirus

LAW FIRM: Clifford Chance, JunHe, King & Wood Mallesons, Linklaters


Clifford Chance – Mark Chan, David Tsai

JunHe – Yongqiang Yu

Linklaters – William Liu


PRACTICE AREAS: Capital markets

INDUSTRY SECTORS: Banking and financial services

ADBC’s first dim sum bonds to combat coronavirus is our deal of the month for March.

Aimed at raising funds to combat the coronavirus outbreak, the Agricultural Development Bank of China (ADBC) will issue $215.6 million of dim sum bonds in Hong Kong. Linklaters and King & Wood Mallesons are representing ADBC, with Clifford Chance and JunHe advising the joint global coordinators, bookrunners, lead managers and underwriters.

The capital raised by the debt issuance will assist in ADBC’s development of rural areas, and provide financing loans and other financial support to help prevent and control the spread of the coronavirus. These are the first dim sum bonds to raise funds to help combat deadly coronavirus.

The joint bookrunners and lead managers include the Bank of China, Bank of China (Hong Kong), Standard Chartered Bank, Bank of Communications’ Hong Kong Branch, Agricultural Bank of China’s Hong Kong Branch, China Construction Bank (Asia), Industrial and Commercial Bank of China (Asia), Shanghai Pudong Development Bank’s Hong Kong Branch, China CITIC Bank International, Mizuho Securities Asia, KGI Asia, Crédit Agricole Corporate and Investment Bank and CTBC Bank.