China Bluestar Completes $500 Million Perpetual Securities Offering

On December 17, 2015, China National Bluestar (Group) Co., Ltd. (China Bluestar), the largest specialty chemicals and materials manufacturer in China, completed its offering of 4.375 percent senior guaranteed perpetual securities in an aggregate principal amount of $500 million. The securities have no maturity date.

Wilson Sonsini Goodrich & Rosati advised China Bluestar in the transaction. Deutsche Bank AG, Singapore Branch, Morgan Stanley & Co. International, and J.P. Morgan Securities acted as the joint lead managers.

China Bluestar will apply the net proceeds toward debt refinance, capital expenditure, working capital, and general corporate purposes.

The WSGR team that advised China Bluestar in the transaction was led by partner Dan Ouyang and included Michael Zhou, Ke Li, Yuki Chan, Tracy Ji, and Long Li.