Country Garden Holdings’s US$3 billion concurrent share placement and convertible bond offering

Linklaters has successfully advised on a US$3 billion concurrent share placement and convertible bond issue for Country Garden Holdings, China’s largest real estate developer in terms of contracted sales in 2017 and ranks among the top three real estate enterprises globally.

The deal is the largest equity deal in Asia this year so far. It is also the largest ex-Japan convertible bond issued to the international markets since 2007.

Linklaters acted for Goldman Sachs as placing agent in the top-up share placement, and as sole bookrunner for the zero coupon secured guaranteed convertible bonds.

The fundraising is a combination of equity and convertible bonds, which has been gaining popularity recently in the market.

The Linklaters team was led by Iris Leung, Craig Dally and Terence Lau.


Involved fees earner: Iris Leung – Linklaters; Craig Dally – Linklaters; Terence Lau – Linklaters;

Law Firms: Linklaters;

Clients: Goldman Sachs International;



Author: Michael Patrini