Conyers advises Agile Property Holdings on international offering of ¥2bn senior notes
Conyers Dill & Pearman has provided British Virgin Islands (BVI) and Cayman Islands legal advice to Agile Property Holdings in connection with an international offering of the company’s ¥2bn (£190m) 6.50 per cent senior notes due 2017.
This is ranking pari passu with all existing notes in issue, banking facilities and unsecured and unsubordinated indebtedness but senior to perpetual bonds in issue subject to priority rights pursuant to applicable law supported by subsidiary guarantees of ‘restricted subsidiaries’ within the group and charges over the share capital of all ‘restricted subsidiaries’ on a first-priority basis subject to an intercreditor arrangement.
The senior notes are subordinated to other secured obligations and to all existing and future obligations of ‘non-restricted subsidiaries’.
Paul Lim of Conyers’ Hong Kong office advised on the matter, working alongside Sidley Austin and Davis Polk & Wardwell.
News from Conyers Dill & Pearman
Briefings from Conyers Dill & Pearman
The Trusts (Special Provisions) Amendment Act 2014 provides certainty regarding how far settlors can go without calling the validity of the trust structure into question.
This memorandum has been prepared for the assistance of those who are considering registration of a foreign limited partnership in the Cayman Islands.