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Expanding upon its considerable China practice, Shearman & Sterling opened an office in Shanghai in June 2007. Fully integrated with our established offices in Beijing and Hong Kong, the Shanghai office allows us to better serve clients in Central and Southern China and strengthen our successful project development, finance, capital markets, and M&A work in the PRC.
Attorneys in our Shanghai office have been involved in several landmark transactions, including the first all-Chinese bank syndicate limited recourse financing arranged on international standard documentation and the first PRC bank take-out refinancing of an international bank limited recourse deal. Additionally, the Shanghai team has executed or been active in many prominent acquisition and project financings, such as the US$9 billion Dow Coal to Chemical project in Shaanxi, the US$5 billion Fujian Refinery and Ethylene Cracker project, the US$3.5 billion BASF/Sinopec Nanjing Petrochemical project, the US$1.5 billion FRN issuance by KMG to purchase an interest in PetroKazakhstan, and the US$300 million financing of the Wal-mart acquisition of Trustmart.
Our Capital Markets team in Shanghai has been engaged in a number of high profile transactions, including the initial public offerings and U.S. listings of the Shanghai area-based Solarfun Power Holdings, Simcere Pharmaceutical, Acorn International, Suntech Power Holdings, and the Hong Kong Stock Exchange listing of Bank of Communications. We are developing even closer relationships in the region with issuers and underwriters; moreover, we continue to be involved with leading capital markets deals concerning both Chinese state-owned enterprises and noted private businesses seeking overseas debt and equity offerings.
All of our attorneys in Shanghai are bilingual and US or UK qualified with most originally from the PRC. They have thorough knowledge of the regulatory, commercial, and cultural environment of their respective practice areas. The Shanghai team works closely with their colleagues throughout the firm’s global network, providing clients with connections to markets around the world.