Paul Qu
Biography
Overview
Paul Qu is an associate in White & Case's Capital Markets practice based in Hong Kong. He represents issuers, underwriters and investors in debt capital markets transactions pursuant to Rule 144A/Regulation S, and issuers and underwriters in the initial public offerings of special purpose acquisition companies. He also has experience working on indenture compliance projects and initial public offerings on the Hong Kong Stock Exchange.
Experience
Paul’s recent experience include advising:
Asian Infrastructure Investment Bank (AIIB) on its investment in US$404.8 million Infrastructure Asset-Backed Securities (IABS) sponsored by Hong Kong Mortgage Corporation (HKMC). Five classes of investment grade IABS were offered, including a US$100 million senior sustainable class, the proceeds of which are fully allocated to eligible green and social loans that meet the eligibility criteria stated in HKMC's Social, Green and Sustainability Financing Framework, which aligns with the Green Bond Principles, Social Bond Principles and Sustainability Bond Guidelines released by the International Capital Market Association. It demonstrates the HKMC's commitment to green and sustainable development as well as AIIB's, as an anchor investor, strategic priority to mobilise private capital into the infrastructure sector.
The Book Running Lead Managers on the 144A initial public offering of R R Kabel Limited (the "Company"), one of the leading companies in the Indian consumer electrical industry (comprising wires and cables and fast moving electrical goods). It is one of the portfolio companies of TPG Asia VII SF Pte. Ltd. ("TPG"). This transaction was complex as the Company had acquired two businesses prior to the transaction and had also licensed certain intellectual property requiring analysis of ownership and intellectual property rights.
Maxeon Solar Technologies, Ltd. in its issuance and sale of US$207 million 7.50% Convertible First Lien Senior Secured Notes due 2027. The transaction features a bespoke covenant package, which seeks to balance the issuer's operational needs, as well as a tailored security package covering various asset classes across multiple jurisdictions, including Singapore, Hong Kong, China, Switzerland, Bermuda, Cayman Islands, Philippines and Malaysia. The transaction was successfully executed within a tight timeframe against the backdrop of significant market and regulatory volatility.
HH&L Acquisition Co., a special purpose acquisition company, in its US$414 million initial public offering on NYSE.
Citigroup Global Markets Inc. as the representative of the underwriters in the US$230 million initial public offering of Provident Acquisition Corp, a special purpose acquisition company.
The placing agent in the private placement of senior notes by a Cayman company. The guarantor of the senior notes is a leading Chinese property developer listed on the HKSE.
Greentown China Holdings Limited, a Chinese luxury real estate developer listed on the Hong Kong Stock Exchange, in its global Regulation S offering of US$300 million 4.70% senior notes due 2025. Credit Suisse (Hong Kong) Limited, UBS AG Hong Kong Branch, Citigroup Global Markets Limited and GF Securities (Hong Kong) Brokerage Limited acted as joint global coordinators, joint lead managers and joint bookrunners, and Guotai Junan Securities (Hong Kong) Limited, Mizuho Securities Asia Limited, The Bank of East Asia, Limited, China Everbright Bank Co., Ltd., Hong Kong Branch, CLSA Limited, Haitong International Securities Company Limited and DBS Bank Ltd. acted as joint lead managers and joint bookrunners for the offering.
Greentown China Holdings Limited in a Standby Letter of Credit (SBLC) backed US$400 million 2.3% credit enhanced bonds due 2025.
Deutsche Bank, as Sole Global Coordinator and Left Lead Bookrnner, Banco Nacional Ultramarino, S.A., Bank of China Limited, Macau Branch, Bank of Communication Co., Ltd. Macau Branch, BNP Paribas, BOCI Asia Limited, BofA Securities, Inc., DBS Bank Ltd., Industrial and Commerical Bank of China (Macau) Limited, J.P. Morgan Securities plc, Soctia Capital (USA) Inc., SMBC Nikko Securities America, Inc., United Overseas Bank Limited, Hong Kong Branch as Joint Bookrunners in (i) the Rule 144A/ Regulation S offering of US$600 million 5.625% Senior Notes due 2028; and (ii) the tap offering of US$250 million 5.500% Senior Notes due 2026, to be consolidated and form a single series with the US$750 million 5.500% Senior Notes due 2026 issued on June 19, 2020, by Wynn Macau, Limited.
Deutsche Bank as the sole bookrunner in the Rule 144A/Regulation S tap offering of US$350 million 5.750% senior notes due 2028 by Melco Resorts Finance Limited, a developer, owner and, thorugh its subsidiary, operator of casino gaming and entertainment casino resort facilities in Macau. The notes will be consolidated and form a single series with the US$500 million 5.750% senior notes due 2028 issued by Melco Resorts Finance Limited on July 21, 2020.
