Unilever dim sum bond - First Renminbi notes issued by a European multinational

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Slaughter and May, Hong Kong and London, is advising Unilever on its first issuance of Renminbi denominated notes (known in the market as dim sum bonds). The RMB300,000,000 1.15 per cent. Fixed Rate Notes due 31 March 2014 are issued by Unilever N.V. and guaranteed by Unilever PLC and Unilever United States, Inc.

Unilever's Renminbi Notes are the first issued by a European multinational and the first by a company in the FMCG sector. The Notes, issued to institutional investors, have an equivalent principal amount of approximately US$45 million (€33 million).

The Note issue, which was announced on 28 March 2011, gives Unilever a new source of funding for its growth plans in China. Unilever has a well-established presence in China, serving Chinese consumers with its international brand portfolio as well as with local brands.

Hong Kong Office: Peter Lake (partner), Marco Chung (associate)

London Office: Marc Hutchinson (partner), Daniel Benn (associate)