Kirkland & Ellis is acting for Hong Kong-listed Baoxin Auto Group Ltd (HKSE: 1293), a leading luxury 4S dealership in China, in its debut issuance of US$300 million of senior perpetual securities, which will be guaranteed by China Grand Automotive Services Co., Ltd. (SSE: 600297) and China Grand Automotive Services (Hong Kong) Ltd. The Sole Global Coordinator is China International Capital Corporation Hong Kong Securities Limited (CICC). The Joint Bookrunners and the Joint Lead Managers are CICC and China Securities (International) Corporate Finance Company Limited.
The Kirkland team is led by Hong Kong-based corporate partners Benjamin Su, Joey Chau and Jacqueline Tang, with assistance from corporate partners Nicholas Norris and David Yun and debt finance partners David Irvine and Daniel Lindsey.
Kirkland has advised Baoxin Auto Group on several transactions, including its refinancing facility from a syndicate of banks with Standard Chartered acting as the facility agent. The Kirkland team advising on the refinancing was led by debt finance partner David Irvine.
Earlier this year, Kirkland represented Shanghai-listed China Grand Automotive Services Co., Ltd (SSE: 600297) in its US$1.5 billion partial offer for Baoxin Auto Group. The Kirkland team advising on the partial offer was led by corporate partners Nicholas Norris and Joey Chau.