Commerce & Finance is known for its good relationships with PRC real estate companies, from which it earns many of its top capital markets and banking and finance mandates. This in turn has made the debt capital markets practice particularly strong, ...
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Commerce & Finance is known for its good relationships with PRC real estate companies, from which it earns many of its top capital markets and banking and finance mandates. This in turn has made the debt capital markets practice particularly strong, as Chinese developers often turn to Commerce & Finance for their bond work. The capital markets practice has a particular proclivity for representing international initial purchasers and Chinese issuers on the PRC law aspects of US offerings, including Rule 144As, debt capital markets issuances and Nasdaq and New York Stock Exchange offerings.
One of the firm’s founders, Gang Liu, receives high praise from peers in the market. “Gang Liu is a very experienced person in the China market,” says one peer. “He really helps to make Commerce & Finance a good, strong player in capital markets.”
In one of the firm’s real estate-related capital markets transactions this past year, Commerce & Finance represented developer KWG Property Holding in its US$350 million Rule 144A/ Reg S bond offering of 12.75% senior notes. Privately-owned KWG develops commercial, residential, and hotel properties across many provinces in China.
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