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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Costs Management – some practical tips

Whilst concerns over the Jackson reforms appear to have centred on funding arrangements (CFAs and DBAs) and the new proportionality rule, Lord Justice Dyson, in his inaugural speech as Master of the Rolls, said that, “costs management is the key to the Jackson reforms”. Unless firms understand the costs management process, and take practical steps […]

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Outside interest

Beyond Beijing and Shanghai, other Chinese cities are powerful too – and growing faster than the international star venues In brief China is not just about Beijing and Shanghai. The country has a number of other cities of significant size and these are growing more quickly than the capital and the financial centre. International and […]

China Watch – A foreign lawyer’s view from the inside

A couple of weeks ago I was invited to participate as a judge in a legal English contest conducted by the Sinopec law department. On the surface, this was part training exercise and part game show, but there was a deeper objective, which became apparent quite quickly. Other judges included Allen & Overy Hong Kong […]

Wim Dejonghe
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Allen & Overy posts revenue dip in first half

Allen & Overy (A&O) has announced a 3 per cent drop in its revenue for the first half of the 2012/13 financial year, turning over £566m in the six months from 1 May. The magic circle firm’s income figure compares with £582m for the same period in 2011/12, although the firm said its half-year turnover […]

Kennedys gears up to recommend Scottish merger to partners

Insurance firm Kennedys is in early-stage tie-up talks with Scotland’s Simpson & Marwick and is preparing to put the prospect of a merger to its partners. A merger would give Kennedys its first foothold in Scotland. Simpson & Marwick, which focuses on insurance and personal injury work, has offices in Aberdeen, Dundee, East Lothian, Edinburgh […]

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