Richards Butler has helped new client Ford Motor Credit Company (FMCC) to complete the first ever foreign corporate retail bond issue in Hong Kong.
FMCC was introduced to Richards Butler’s Hong Kong office by US firm Shearman & Sterling.
The bonds – the first to be issued by an overseas company and known as ‘Canto bonds’ – will be marketed to the public through local banks and will not be listed.
Standard Chartered Bank, Commercial Bank of China, the Bank of East Asia, Dah Sing Bank, International Bank of Asia, Mevas Bank and Wing Lung Bank will distribute the bonds.
Shearman advised Stan-dard Chartered on the bond issue, along with Linklaters.