China Bluestar Completes $1 Billion Note Offering
On June 11, 2015, China Bluestar, the largest specialty chemicals and materials manufacturer in China, completed its offering of $500 million in an aggregate principal amount of 3.5 percent senior guaranteed notes due 2018, and $500 million in an aggregate principal amount of 4.375 percent senior guaranteed notes due 2020.
WSGR advised China Bluestar in the transaction. Deutsche Bank AG, Morgan Stanley & Co. International plc, BOCI Asia Limited, J.P. Morgan Securities plc, BNP Paribas, and Bank of Communications Co. acted as the joint lead managers.
The net proceeds will be applied toward repayment of indebtedness, capital expenditure, working capital, and general corporate purposes by China Bluestar's subsidiaries.