Shearman And Sterling

News May 02, 2014

Shearman & Sterling Advises on Lenovo Group Limited’s US$1.5 billion Bond Offering

Shearman & Sterling represented the underwriters in connection with the Regulation S offering of US$1.5 billion in aggregate principal amount of 4.7% Senior Notes due 2019 by Lenovo Group Limited (“Lenovo”). Citigroup Global Markets Ltd. acted as the global coordinator of the underwriting banks, including Australia and New Zealand Banking Group Limited, Bank of China Limited, Bank of China (Hong Kong) Limited, BOCI Asia Limited, Barclays Bank PLC, BNP Paribas, Hong Kong Branch, China Merchants Securities (HK) Co., Limited, Credit Suisse Securities (Europe) Limited, DBS Bank Ltd., Merrill Lynch International, Mitsubishi UFJ Securities International PLC, Mizuho Securities Asia Limited, The Royal Bank of Scotland PLC and Standard Chartered Bank.

This is Lenovo’s debut offering of US dollar-denominated bonds and is the largest unrated fixed-income instrument in Asia.

Lenovo plans to use the proceeds for working capital as well as to fund any acquisition activities.

Lenovo is one of the world’s leading personal technology companies, producing innovative PCs and mobile internet devices. A global Fortune 500 company, Lenovo is the world’s largest PC vendor and fourth largest smartphone company.

The Shearman & Sterling team below also included associates Mario Meeks and Jack Prytherch; and trainee Joseph Bradley.

The Team