Offshore law firm Walkers has acted as listing sponsor and adviser to CHMT Peaceful Development Asia Property on a US$4.1bn bond listing on The International Stock Exchange (TISE) in the Channel Islands.
This listing relates to the financing of the acquisition of Hong Kong’s fifth largest skyscraper, The Center, which is said to be the world's most expensive real estate transaction for a single building to date.
The bonds were listed in two tranches of approximately US$3.3bn – tranche A, notes and US$800 million; tranche B, notes with an 18-month maturity.
Walkers' Jersey team worked with their counterparts at Ashurst in Hong Kong and the team at TISE to complete the listing. The Walkers team comprised Senior Counsel Christophe Kalinauckas, Listing Manager Piotr Kobus, and Partners Nigel Weston and Alexandra Corner.