Mayor Brown advises on US commercial paper programme

Mayer Brown has announced today that it advised China International Marine Containers (Hong Kong) Limited (CIMC) on the establishment of a $600m US commercial paper programme supported by a letter of credit from Bank of China, New York Branch.

The transaction marks one of the first letter of credit-backed US commercial paper programmes by an Asian issuer. Bank of America Merrill Lynch acted as structuring advisor and arranger.

The Mayer Brown team was led by Corporate and Securities partner David Bakst (New York), and included: Corporate & Securities — associate Jonathan Bernstein (New York); Banking and Finance — partner Ben Sandstad and associate Ian Kwong (both Hong Kong), and associates Thanos Panagopoulos and Sandy Zhang (both New York); Tax Transactions and Consulting — partner Jason Bazar and associate Maurice Worsley (both New York); Restructuring, Bankruptcy and Insolvency — counsel Richard Ziegler (New York) and Financial Services Regulatory and Enforcement — partner David Sahr (New York).