Conyers advises NWS Holdings Limited in connection with US$650 million 4.25% guaranteed senior notes due 2029 and US$1.3 billion 5.75% guaranteed senior perpetual capital securities

Dec 2022

Conyers advises NWS Holdings Limited (“NWS”) in connection with an invitation by:

1. CELESTIAL DYNASTY LIMITED (“Celestial Dynasty”) and NWS to holders of the outstanding US$650 million 4.25% guaranteed senior notes due 2029 (the “Notes”) issued by Celestial Dynasty and unconditionally and irrevocably guaranteed by the Company, to tender the Notes for purchase by Celestial Dynasty and NWS for cash; and
2. CELESTIAL MILES LIMITED (“Celestial Miles”) and NWS to holders of the outstanding US$1.3 billion 5.75% guaranteed senior perpetual capital securities (the “Securities”) issued by Celestial Miles and unconditionally and irrevocably guaranteed by the Company, to tender the Securities for purchase by Celestial Miles and the Company for cash.

NWS (HK stock code: 659) and its subsidiaries are principally engaged in (i) the development of, investment in and/or operation of roads, commercial aircraft leasing, construction and insurance; and (ii) the investment in and/or operation of logistics and facilities management projects.

Partner Anna Chong and Legal Manager Michelle Au of Conyers’ Hong Kong office advised on the matter working alongside Clifford Chance.