Corporate Finance Team advises Lotte Shopping on issuance of CNY 750 million in dim sum bonds
2012.02.09.
Yulchon's Corporate Finance Team advised Lotte Shopping Co., Ltd. on the issuance of CNY 750 million (approximately KRW 133 billion) worth of bonds. Lotte Shopping Business Management (Hong Kong) Ltd., a subsidiary of Lotte Shopping, issued the CNY-denominated bonds in Hong Kong and Lotte Shopping became its payment guarantor. Bonds denominated in Chinese yuan and issued in Hong Kong are frequently referred to as "dim sum bonds." Lotte Shopping plans to use the proceeds from this issuance for expanding its business in China.
Yulchon participated in this deal as international counsel to Lotte Shopping in addition to acting as deal counsel in regards to Korean law. Lotte Shopping is the second to succeed in issuing dim sum bonds; CJ Cheil Jedang Corporation issued such bonds in June 2011. Through this deal Yulchon solidified its place as a leading legal counsel in the dim sum bond issuance market, which has great potential for growth.
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