Apr 2025
Conyers provided Bermuda legal advice to Shangri-La Asia Limited (“Shangri-La Asia”) in connection with its issuance of 2025 medium term notes (Series 1) under Bond Connect, with a total amount of up to RMB1 billion.
The issuance comprises two tranches :
- Tranche 1: Up to RMB500 million, with a 3+2 year maturity, featuring Shangri-La Asia’s interest rate adjustment option and investors’ sell-back option at the end of year three.
- Tranche 2: Up to RMB500 million, with a 5-year maturity.
This innovative structure offers flexibility for both issuer and investors, balancing risk and return through dynamic interest terms and early exit options—an uncommon feature in China’s onshore bond market.
Shangri-La Asia develops, owns, leases, operates, and manages hotels and associated properties globally.
Counsel Beverly Cheung of Conyers’ Hong Kong office advised on the matter working alongside JunHe LLP.