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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City firms weigh in on Suez Canal blockage dispute

Clyde & Co, Kennedys, Reed Smith, Ince and several specialist shipping law firms have entered the legal liability dispute sparked by the Suez Canal blockage. They will join Holman Fenwick Willan (HFW), which is acting on behalf of insurers UK P&I Club and the Ever Given container ship’s joint owners, Japan’s Luster Maritime and Higaki […]

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Slaughters joins legal line-up as bidders circle Morrisons

A raft of firms have been called up on the bidding war for Morrisons, two weeks after it turned down a £5.5bn takeover bid from Clayton Dubilier & Rice (CD&R). An investment consortium led by US private equity firm Fortress Group threw in a £6.3bn bid for Morrisons over the weekend, while this morning it […]

Pinsents breaks £500m barrier with narrow turnover rise

Pinsent Masons’ revenue snuck up by just under two per cent during the last year, rising from £495.5m to £503.3m. This coincided with a significant uplift in the firm’s average profit per equity partner, which shot up 16 per cent from £546,000 to £636,000. Managing partner John Cleland told The Lawyer that the results were […]

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2020/21 financials: Fieldfisher turnover hits £290m

After several years of double-digit percentage growth, Fieldfisher has added just over £15m to its top-line as revenues hit £290m. The 6 per cent uplift means that the firm brought in around £273m in 2019/20, though the firm did not report its results at the time. Average profit per equity partner also rose in the […]

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