Latest Briefings

The sustainability of green financing

Maples Group acted for Xiaomi Corporation in connection with Xiaomi’s offering of US$800,000,000 2.875% Senior Bonds Due 2031 and US$400,000,000 4.100% Senior Green Bonds Due 2051 issued by Xiaomi Best Time International Limited, incorporated in Hong Kong and unconditionally and irrevocably guaranteed by Xiaomi Corporation, a company controlled through weighted voting rights and incorporated in the Cayman Islands and listed on the Hong Kong Stock Exchange. The green bonds offering marked Xiaomi’s initial foray into the world of green financing and more broadly Environmental, Social and Governance (ESG). The proceeds of the green bonds are earmarked for ‘Eligible Projects’ within Xiaomi’s finance framework aimed at positive environmental and social benefits. Their framework follows the green bonds and loan guidelines of the International Capital Markets Association.

Guernsey consolidates economic substance and extends it to partnerships

Guernsey has brought partnerships into scope of economic substance requirements for accounting periods commencing on or after 1 January 2022, although partnerships formed on or after 1 July 2021 will be in scope immediately on formation where they conduct activities that trigger the economic substance requirements.

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Ashurst and MoFo win roles on CPG-Itochu alliance

Ashurst and Morrison & Foerster (MoFo) have taken the leading roles on a $1.8bn (£1.1bn) strategic alliance between Thai conglomerate Charoen Pokphand Group (CPG) and Japanese trading house Itochu. A Hong Kong and Tokyo team from MoFo are acting for CPG on the deal, while Ashurst’s Hong Kong office has teamed up with Japanese firm Mori […]

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Chadbourne pulls out of Kiev citing market turmoil

Chadbourne & Parke is in the process of closing its Kiev office, citing a “problematic long-term outlook” among its reasons for pulling out of Ukraine. Chadbourne currently employs two international partners and a further six lawyers in Ukraine. The team is understood to be winding down open matters while seeking new employment. A spokesperson for […]

Wragge Lawrence Graham & Co announces financial results

Wragge Lawrence Graham & Co has announced the results of its legacy firms Wragge & Co and Lawrence Graham for the financial year to 30 April 2014. The combination has created a £172m turnover business delivering profit of £58.6m at a margin of 34 per cent. The turnover figure comprises £121.2m from legacy Wragge & […]

Clifford Chance

Clifford Chance new leadership sees both finance and capital markets heads replaced

Clifford Chance managing partner Matthew Layton has appointed a new-look executive leadership group to replace its management committee following a dramatic overhaul earlier this month. The firm rewrote its constitution after a vote last week to replace its practice group and regional heads by appointment rather than via elections. Clifford Chance also voted to establish a […]

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Top 10 stories 20 July – 27 July 2014

Mark Brandon’s forthright opinion article on the future shape of the legal market continues to have the market talking and commentators commenting. In case you missed it, Brandon’s points include his contention that US firms will eventually be dominant in London, that Vereins have had their day and that the modern obsession with process is […]

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