The Hong Kong and London offices of Debevoise & Plimpton LLP have advised Hong Kong-based life insurer AIA Group Limited (AIA) on the expansion of its $3 billion Global Medium Term Note Programme and its first ever Rule 144A placement in the United States.

The $1 billion placement completed on March 11, and included US$500 million of 2.250% notes due 2019 and US$500 million of 4.875% notes due 2044. The notes were offered to qualified institutional investors inside the United States under Rule 144A of the US Securities Act and outside of the United States under Regulation S.

To accommodate the placement, AIA extended its $3 billion Global Medium Term Note Programme to increase the amount of notes issued under the programme and include offerings inside the United States.

AIA is a long-term client of Debevoise’s. In December 2013, the firm advised AIA on a landmark exclusive bancassurance partnership with Citibank N.A. encompassing 11 markets in the Asia-Pacific region.

The Debevoise team advising AIA on these latest deals was led in Hong Kong by partner E. Drew Dutton and in London by partner James C. Scoville. It included associate Danielle de Zorzi in Hong Kong and associate Barbara Lin Ma in Shanghai. In London, international counsel Cecile Beurrier and Vera Losonci, and associates Benjamin Collins-Wood, Julia Keppe and Matthew Pincus all assisted.