Weigao Holding’s $150 Million Secured Guaranteed Exchange Bonds Offering

Simpson Thacher recently represented Weigao Holding Company Limited, in its capacity as guarantor, and Sure First Limited as Issuer of the offering.

Sure First Limited, a wholly-owned subsidiary of Weigao Holding, executed the issue of US$150 million 2% Secured Guaranteed Exchangeable Bonds due 2025 (“Bonds”). The Bonds, exchangeable into the H shares of Shandong Weigao Group Medical Polymer Company Limited (HKSE: 1066), are unconditionally and irrevocably guaranteed by Weigao Holding.

Credit Suisse acted as the sole global coordinator, sole bookrunner and sole lead manager of the offering. The Bonds are listed and quoted on the Singapore Exchange Securities Trading Limited.

Weigao Holding is the largest medical devices company in China measured by revenue in 2018. Starting as a manufacturer of single-use clinical medical devices and personal hygiene products in 1988, Weigao Holding has achieved leading positions in several key medical device segments in China over the past three decades.

The Simpson Thacher team for the offering included Chris Lin (Picture), Howie Farn and Cherrie Zhang (Capital Markets).

Involved fees earner: Howie Farn – Simpson Thacher & Bartlett; Chris Lin – Simpson Thacher & Bartlett; Cherrie Zhang – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Sure First Limited; Weigao Holding Company Limited;