China ZhengTong Auto Services Holdings’ $160 Million Senior Notes Offering

Shearman & Sterling represented the initial purchasers in connection with the offering.

China ZhengTong Auto Services Holdings Limited completed the offering of its $160 million aggregate principal amount of 12 percent senior notes due 2022.

J.P. Morgan Securities plc, Haitong International Securities Company Limited, CCB International Capital Limited and China CITIC Bank International Limited acted as the initial purchasers for the offering.

China ZhengTong Auto Services Holdings Limited is a leading 4S dealership group in China. The company is principally engaged in the sales of passenger motor vehicles, including luxury and ultra-luxury branded automobiles, and after-sale services.

The Shearman & Sterling team was led by Partners Kyungwon (Won) Lee (Picture), Alan Yeung, and Associate Yuanjing Chen. The team also included international specialist Yiming Chen (Shanghai-Capital Markets).

Involved fees earner: Yuanjing Chen – Shearman & Sterling; Kyungwon Lee – Shearman & Sterling; Alan Yeung – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: CCB International; China CITIC Bank International; Haitong International Securities Group Limited; J.P. Morgan Securities LLC;

Author: Michael Patrini