Hong Kong, December 9, 2008—Shearman & Sterling has won “Best High-Yield Bond” and “Best Mid-Cap Equity Deal” in the Finance Asia Awards for Achievement 2008.

Best High-Yield Bond

Vedanta Resources plc’s $1.25 billion Rule 144A/ Regulation S bond offering, which overcame difficult markets to become the largest-ever high-yield bond for an Asian corporate borrower, was awarded “Best High-Yield Bond.” Shearman & Sterling represented JPMorgan, Morgan Stanley, Barclays, Citigroup, and Deutsche Bank, as the joint lead managers, and Deutsche Bank, as trustee, in connection with the offering.

Hong Kong Capital Markets Partner Kyungwon Lee led the Shearman & Sterling team, working with partner Laurence Crouch (Menlo Park-Tax); counsel Mei Lian (London-European Finance); associates Steve Kim (Hong Kong-Capital Markets), Catherine Kemnitz (New York-Capital Markets), Su-Ann Cheah (Singapore–Capital Markets), Nicolas Rogivue (London-European Finance), Olivia Mak (London-European Finance), Eileen O'Pray (Menlo Park-Tax), and Yung Nguyen (Singapore-Capital Markets); legal assistants Kai Ling Tan (Singapore-International Arbitration) and Kelly Wang (Hong Kong-Capital Markets); and summer associates Mindy Lo (Hong Kong-Capital Markets) and Iris Park (Hong Kong-Capital Markets). Partner Ian Harvey-Samuel (London-European Finance) and associate Alan Yeung (Hong Kong-Capital Markets) represented Deutsche Bank, as trustee.

Best Mid-Cap Equity Deal

Partner Alan Seem (Beijing-Capital Markets) led the team advising the underwriters on China Shanshui Cement’s US$269 million IPO, awarded “Best Mid-Cap Equity Deal.” The Shanshui IPO beat negative market sentiment to enable the greenshoe to be exercised in full – something only one other Hong Kong IPO (out of a total of 21) had managed thus far in 2008. Associates Xinmei Chen (Beijing-Capital Markets), Xikang Wang (Beijing-Capital Markets), Tracy Li (Hong Kong-Capital Markets), and Maggie Guan (Hong Kong-Capital Markets) assisted Seem on the deal.