Slaughter and May advised Henderson on the largest ever equity-linked bond issuance in the Hong Kong Property Sector

Slaughter and May, Hong Kong, advised Henderson Land Development Company Limited (Henderson) on the issuance by its wholly-owned subsidiary, Happy Ever Holdings Limited, of 0.5% guaranteed convertible bonds due 2030 in an aggregate principal amount of HK$8 billion (the Bonds).The Bonds are unconditionally and irrevocably guaranteed by, and are convertible into ordinary shares in, Henderson. This issuance is the largest-ever equity-linked bond issuance in the Hong Kong property sector.

The Bonds have been approved for admittance to listing and trading on the Vienna MTF operated by the Vienna Stock Exchange.

HSBC was the Sole Global Coordinator, Sole Bookrunner and Sole Lead Manager for the issuance of the Bonds.