DEALS AND CLIENT WINS Maples Advises on Baidu's US$950 million Bond
29 Oct 2020
Maples and Calder, the Maples Group's law firm, was pleased to act as Cayman Islands and British Virgin Islands counsel to Baidu, Inc. (the "Issuer") on its issue of an aggregate of US$650million 1.720% notes due 2026 and US$300million 2.375% notes due 2030, which closed on 9 October 2020. Despite the uncertainty of COVID-19, the existing US-Sino tensions and associated market volatility, there was enormous market interest in the offering with the book being oversubscribed multiple times.
Baidu Inc. is the leading Chinese language Internet search provider and is listed on NASDAQ.
A team based in the Group's law firm in Hong Kong acted as Cayman Islands and British Virgin Islands counsel to Baidu. The team was led by Partner and Head of the Corporate practice in Asia, Matt Roberts and assisted by Associate Mindy Ho.
Commenting on the dual-tranche bond offering, Matt Roberts said, "We were delighted to once again advise our longstanding client Baidu on this significant bond offering. Despite the challenging times, we were especially pleased to see the market respond so positively and the success of the offering further demonstrates global investors support and confidence in Baidu."
Skadden Arps Slate Meagher & Flom LLP and Han Kun Law Offices acted for the Issuer as US and PRC legal counsel respectively. Davis Polk & Wardwell and Jingtian & Gongcheng acted as US and PRC legal counsels respectively to the Underwriters, Goldman Sachs (Asia) L.L.C., BofA Securities, Inc. and J.P. Morgan Securities LLC.
Maples and Calder (Ireland) LLP, the Maples Group's law firm in Ireland, is pleased to announce the addition of Lorna Smith who joins the firm as a Partner in its Financial Services Regulatory practice.Read more
13 Jan 2021
The Maples Group is pleased to support the Leon Levy Foundation, a private philanthropic foundation with US$450 million in assets. The Group's consolidated operational and technology platform for data aggregation, portfolio accounting and portfolio reporting and customized support has allowed the Leon Levy Foundation to meaningfully analyze its investments in a timely manner while better understanding the strategies to which it has allocated capital.Read more
12 Jan 2021
Maples and Calder, the Maples Group's law firm, is pleased to announce that its Asia practice has been recognised for its role in advising on seven of the transactions listed as Deals of the Year 2020 by China Business Law Journal ("CBLJ"). Additionally, Anthony Webster, Partner and head of the Funds & Investment Management team in Hong Kong and Matt Roberts, Partner and head of the Corporate practice in Asia were recognised on CBLJ's A-List.Read more
12 Jan 2021
The Maples Group was pleased to act as Cayman Islands counsel to Xiaomi Corporation in relation to its combined issue of US$855million zero coupon guaranteed convertible bonds, due 2027 and convertible into class B ordinary shares of Xiaomi Corporation under general mandate and approximately US$3.1billion subscription of placing of existing shares and top-up subscription of shares under general mandate.Read more
18 Dec 2020
The Maples Group's Dublin and London Offices are proud to announce that together they have selected Barnardo's UK and Barnardos Ireland for a special Christmas donation.Read more
17 Dec 2020