Herbert Smith Freehills has advised underwriters on the RMB800 million dim sum bond offering by Hong Kong Aviation Limited, a wholly-owned subsidiary of Hong Kong Airlines International Holdings Limited.

Proceeds from the two-year Regulation S offshore Renminbi bonds will be used for general corporate purposes. Hong Kong Airlines International, a locally-based full-service network carrier which focuses on the Greater China market, will provide a parent guarantee while HKA Group and Hong Kong Airlines will provide subsidiary guarantees.

Guotai Junan Securities (Hong Kong) Limited, DBS Bank Ltd., Wing Lung Bank Limited, CLSA Limited, Daiwa Capital Markets Hong Kong Limited and Hong Kong International Securities Limited were joint bookrunners on the transaction.

Herbert Smith Freehills' team on the deal was led by Hong Kong partner Kevin Roy and senior consultant Cindy Kao, who were supported by associates George Wu and Alison Tsai.

Herbert Smith Freehills has advised Guotai Junan a number of its bond deals in the past year. The firm recently also acted on the bond issuances by Qilu International Finance (BVI) Company and Yunnan Energy Investment (Overseas) Company Limited, which together raised RMB2.1 billion.