Global Law Office, Jingtian & Gongcheng and Latham & Watkins have assisted Anta Sports in issuing EUR1.5 billion (USD1.5 billion) of zero coupon guaranteed convertible bonds through its subsidiary, Anllian Capital 2.
This is the third-largest convertible bond offering by a Hong Kong-listed company this year to date. The bonds, due in 2029, are listed on the SGX and HKEX.
Global Law’s leading partners Liu Jinrong, Zhu Ruiqing and Li Bing acted as the sportswear maker’s counsel on the transaction team.
Latham advised the underwriters, with Hong Kong-based partners Benjamin Su, Derek Chua and Terris Tang leading the team. Jingtian & Gongcheng counselled the underwriters on PRC law.
According to a HKEX filing, Anta Sports issued new bonds to provide the company with additional funding at a lower cost and refinance its existing debt. The company believes the bond offering will further boost its working capital.
Founded in 1991, Anta Sports is a Chinese multinational sports equipment manufacturer, which is the third largest maker behind Nike and adidas.
