FacultyFaculty/Author Profile
Kyungwon (Won)  Lee

Kyungwon (Won) Lee

Shearman & Sterling LLP

Hong Kong , , CHN


Kyungwon (Won) Lee, Head of Asia Capital Markets Group, represents both issuers and underwriters in a wide range of corporate finance and securities transactions. His experience includes Rule 144A/Regulation S and US registered offerings of equity securities, high yield and investment grade bonds, convertible bonds and liability management transactions as well as private mergers and acquisitions. He also advises various corporate clients on the US securities law and general corporate matters.

Mr. Lee also leads Shearman & Sterling’s Korea Practice Group and is a native speaker of Korean. He joined the firm in New York in 1997 and relocated to Hong Kong in 2005.

He is recognized as a leading individual lawyer for Capital Markets in Hong Kong and China, South Korea as well as Indonesia by Chambers Asia and Asia Pacific Legal 500.

Experience Includes Representation of:

Debt Offerings:

  • The underwriters in connection with the offering of US$70 million 9.00% Senior Notes due 2019 by Golden Legacy Pte. Ltd., unconditionally and irrevocably guaranteed by PT Sri Rejeki Isman Tbk and PT Sinar Pantja Djaja
  • The underwriters in connection with the offering of US$500 million in aggregate principal amount of 4.75% Senior Notes due 2019 by JSW Steel Limited
  • The underwriters in connection with the offering of US$250 million in aggregate principal amount of 5.875% Senior Notes due 2021 by Nexteer Automotive Group Limited, guaranteed by Project Rhodes Holding Corporation and Rhodes Holding I S.à.r.l.
  • Wuzhou International Holdings Limited in its offering of US$100 million in aggregate principal amount of 7.00% Convertible Notes due 2019
  • The underwriters in connection with the Regulation S offering of US$500 million in aggregate principal amount of 3.5% Guaranteed Bonds due 2017 by Skyland Mining (BVI) Limited, guaranteed by China Gold International Resources Corp. Ltd.
  • The underwriters in connection with a US$32 million Reg S offering of 7.125% senior unsecured notes by Pakuwon Prima Pte. Ltd, guaranteed by PT Pakuwon Jati Tbk
  • GCX Limited, a subsidiary of Indian telecommunications company Reliance Communications, in connection with its US$350 million Rule 144A/Regulation S offering of 7% senior secured notes due 2019, unconditionally and irrevocably guaranteed by certain of its subsidiaries
  • Future Land Development Holdings Limited in its offering of US$350 million in aggregate principal amount of 10.25% Senior Notes due 2019
  • The underwriters in connection with the offering of US$168 million in aggregate principal amount of 7.125% Senior Unsecured Notes due 2019 by Pakuwon Prima Pte. Ltd., unconditionally and irrevocably guaranteed by PT Pakuwon Jati Tbk
  • The underwriters in connection with Kaisa Group Holdings Ltd.’s US$400 million 9.00% Senior Notes due 2019
  • The underwriters in connection with the solicitation of consents by MIE Holdings Corporation and various wholly-owned subsidiary guarantors on the US$200 million outstanding amount of its 6.875% Senior Notes due 2018
  • The underwriters in connection with the Rule 144A/ Reg S offering of US$1.35 billion 5.125% Senior Notes due 2024 by PT Perusahaan Gas Negara (Persero) Tbk
  • The underwriters in connection with the offering of US$200 million 9% senior notes due 2019 by Golden Legacy Pte. Ltd., unconditionally and irrevocably guaranteed by PT Sri Rejeki Isman Tbk (Sritex) and PT Sinar Pantja Djaja. Sritex is an Indonesia-based textile and garment business
  • The underwriters in connection with the Regulation S offering of US$1.5 billion 4.7% senior notes due 2019 by Lenovo Group Limited
  • The underwriters in connection with the offering of US$500 million 7.50% senior notes due 2019 by MIE Holdings Corporation
  • The underwriters in connection with the offering of US$150 million 7.0% senior notes due 2022 by Theta Capital Pte. Ltd.
  • The underwriters in the offering of a follow-on Reg. S high yield senior notes by Pacific Emerald Pte. Ltd., unconditionally and irrevocably guaranteed by PT Multipolar Tbk and certain of its subsidiaries
  • The joint lead managers and the dealer managers in connection with a Reg S/ 144A offering of US$225 million 9.00% senior guaranteed notes due 2019 by Alam Synergy Pte. Ltd., a Singapore subsidiary of PT Alam Sutera Realty Tbk and a simultaneous tender offer and consent solicitation in respect of the US$150 million 10.75% senior guaranteed notes due 2017 issued by Alam Sutera International Private Limited
  • Morgan Stanley in connection with a consent solicitation by Xinyuan Real Estate Co., Ltd.
  • The dealers in connection with the proposed takedown by Xacbank LLC under its EMTN program
  • Favor Sea Limited in its offering of US$150 million 11.75% guaranteed senior notes due 2019, guaranteed by the issuer’s direct parent China XD Plastics Company Limited
  • Wuzhou International Holdings Limited in its tap offering of US$100 million senior notes
  • The underwriters in the tap offering of US$250 million 8.875% senior notes due 2018 by Kaisa Group Holdings Ltd.
  • Pacnet Limited as issuer in connection with the offering of US$350 million in aggregate principal amount of 9.00% Senior Secured Guaranteed Notes due 2018, unconditionally and irrevocably guaranteed by certain of the issuer’s subsidiaries
  • Barclays Bank PLC, Morgan Stanley & Co. International plc, Merrill Lynch International, and ICBC International Securities Limited as initial purchasers in connection with the offering of US$200 million in aggregate principal amount of 13.00% senior notes due 2019 by Xinyuan Real Estate Co., Ltd.
  • The underwriters in the offering of US$200 million 11.625% senior notes due 2018 by Vingroup Joint Stock Company. The transaction was the first US$-denominated bond offering by a Vietnamese corporation
  • The underwriters in the offering of US$250 million 7.5% senior notes due 2018 by Anton Oilfield Services Group, a company providing onshore oilfield services and products in China and listed on the Hong Kong Stock Exchange
  • Wuzhou International Holdings Limited in its offering of US$100 million 13.75% senior notes due 2018
  • The underwriters in the offering of US$200 million 9.75% senior notes due 2018 by Pacific Emerald Pte. Ltd., unconditionally and irrevocably guaranteed by PT Multipolar Tbk and certain of its subsidiaries
  • The underwriters in the offering of US$1.2 billion 6.0% notes due 2019 and US$500 million 7.125% notes due 2023 by Vedanta Resources plc
  • The underwriters in the offering of US$400 million 4.625% senior notes due 2023 by Golden Eagle Retail Group Limited
  • The underwriters in the offering of US$200 million 13.25% senior notes due 2018 by Xinyuan Real Estate Co., Ltd.
  • The underwriters in the offering of US$600 million subordinated guaranteed perpetual capital securities by Sinochem Global Capital Co., Ltd.
  • The underwriters in the offering of CNY1.5 billion 9.75% senior notes due 2016 by Future Land Development Holdings Limited
  • The underwriters in the offering of US$300 million 4.625% senior unsecured notes due 2018 by TBG Global Pte. Ltd, unconditionally and irrevocably guaranteed by the PT Tower Bersama Infrastructure Tbk
  • The underwriters in the offering of CNY1.8 billion 6.875% senior notes due 2016 by Kaisa Group Holdings Ltd.
  • Sinopec Century Bright Capital Investment Limited, China Petrochemical Corporation's overseas financing arm, in connection with its proposed offering and sale of its commercial paper notes in the United States in an aggregate principal amount of up to US$3 billion under a commercial paper program
  • The underwriters in the offering of US$250 million 8.875% first priority senior secured notes due 2018 by St Barbara Limited
  • The underwriters in the offering of US$235 million 6.95% senior notes due 2020 by Alam Synergy Pte. Ltd., guaranteed by PT Alam Sutera Realty Tbk.
  • The underwriters in the offering of US$550 million 8.875% senior notes by Kaisa Group Holdings Ltd.
  • The underwriters in the offering of US$800 million 5.875% senior perpetual notes by Reliance Industries Limited
  • The underwriters in the offering of US$200 million 10.25% senior notes due 2018 by Future Land Development Holdings Limited
  • The underwriters in the offering of US$350 million 6.25% senior notes due 2018 by Hengdeli Holdings Limited
  • The underwriters in the offering of US$500 million 10.25% senior notes due 2020 by Kaisa Group Holdings Ltd
  • The underwriters in the offering of US$150 million 7% senior notes due 2019 by Theta Capital Pte. Ltd., a wholly owned subsidiary of PT Lippo Karwaci TBK.
  • China National Petroleum Corporation and CNPC Finance (HK) Limited in the offering of US$1.15 billion guaranteed senior notes by CNPC Finance (HK) Limited’s subsidiary. The notes were guaranteed by CNPC Finance (HK) Limited
  • CNPC Finance (HK) Limited, CNPC’s overseas financing arm, in its proposed offering and sale of its commercial paper notes in the United States in an aggregate principal amount of up to US$2 billion under a commercial paper program
  • The underwriters in the offering of US$400 million 10.50% senior notes due 2017 by China Shanshui Cement Group Limited listed on the Singapore Exchange Securities Trading Limited
  • The underwriters in the offering ofCNY1 billion 4.875% CNY-denominated notes due 2017 by Ford Motor Company
  • The underwriters in the offering of US$300 million 8% senior secured notes by MMI International Ltd
  • The underwriters in the offering of US$150 million 10.75% senior notes due 2017 by Alam Sutera International Private Limited
  • Listrindo Capital B.V. in its offering of US$500 million 6.95% senior notes due 2019 issued by Listrindo Capital B.V. and guaranteed by its parent company, PT Cikarang Listrindo
  • The underwriters in the offering of US$600 million 8.875% guaranteed senior notes due 2017 by Mongolian Mining Corporation
  • The underwriters in the offering of US$1 billion 5.4% guaranteed senior notes due 2022 by Reliance Holding USA, Inc.
  • The underwriters in the offering of US$1 billion 5.5% senior notes due 2021 pursuant to the US$2 billion Global Medium Term Note Program of PLN, a government owned electricity company in Indonesia
  • China National Petroleum Corporation, China Petroleum Finance Company Limited, CNPC Finance (HK) Limited and CNPC Golden Autumn Limited in the offering of CNY2,500 million 2.550% guaranteed bonds due 2013 and CNY500 million 2.950% guaranteed bonds due 2014 guaranteed by CNPC Finance (HK) Limited
  • The underwriters in the offering of CNY1.5 billion (approx. US$233 million) 6.50% senior notes due 2014 of China Shanshui Cement Group Limited
  • The underwriters in the offering of US$1.65 billion 6.75% bonds due 2016 and 8.25% bonds due 2021 by Vedanta Resources plc
  • The underwriters in the offering of US$400 million 8.50% senior notes due 2016 by China Shanshui Cement Group Limited
  • The underwriters in the offering of US$750 million 6.00% Senior Notes due 2021 by ENN Energy Holdings Limited
  • CNPC (HK) Overseas Capital Ltd. In its offering of US$1.85 billion guaranteed senior notes guaranteed by CNPC Finance (HK) Limited
  • The underwriters in the offering of US$500 million 6.75% guaranteed senior notes due 2021 by Franshion Development Limited guaranteed by Franshion Properties (China) Limited
  • eAccess in its offering of US$420 million 8.25% senior notes due 2018 and €200 million 8.375% senior note due 2018 guaranteed by eMobile Limited
  • Pacnet Limited in its offering of US$300 million 9.25% senior secured guaranteed notes due 2015
  • The underwriters in the offering of US$2 billion 4.5% guaranteed senior notes due 2020 and 6.3% guaranteed senior notes due 2040 by Sinochem Hong Kong (Group) Company Limited
  • The underwriters in the offering of US$1.5 billion 4.50% guaranteed senior notes due 2020 and 6.25% guaranteed senior notes due 2040 by Reliance Industries Limited
  • The underwriters in the offering of US$400 million 8.625% senior notes due 2015 by Hidili Industry International Development Limited
  • The underwriters in the offering of US$350 million 13.50% senior notes due 2015 by Kaisa Group Holdings Ltd.
  • The underwriters in connection with an exchange offer/consent solicitation combined with new money offering of senior notes by Sigma Capital Pte. Ltd. guaranteed by PT Lippo Karawaci Tbk
  • Listrindo Capital B.V. in its offering of US$300 million 9.25% senior notes due 2015, guaranteed by its parent company, PT Cikarang Listrindo
  • The underwriters in the offering of US$250 million 12.00% senior notes due 2014 by Lumena Resources Corporation
  • The underwriters in the offering of US$1,250 million 7.75% guaranteed notes due 2020 and US$750 million 8% guaranteed notes due 2019 by PLN, a government owned electricity company in Indonesia
  • Hutchison Whampoa Limited in its offering of US$1.5 billion 7.625% guaranteed notes due 2019
  • The underwriters in the offering of US$1.25 billion bonds by Vedanta Resources plc
  • The underwriters in the offering of 900 units consisting of US$90 million senior notes and 81 million warrants for up to 81 million ordinary shares by Hong Long Holdings Limited
  • The underwriters in the offering of US$100 million 11.25% senior notes due 2013 issued by Mobile-8 Telecom Finance Company B.V. guaranteed by PT Mobile-8 Telecom Tbk
  • The underwriters in the offering of US$325 million 9.375% secured senior notesdue 2011 by Empire Capital Resources Pte Ltd. guaranteed by PT Berau Coal
  • True Move Company Limited in its offering of US$465 million 10.75% guaranteed notes offering due 2013
  • The underwriters in the offering of US$150 million 9.5% senior notes due 2009 by Matahari Finance B.V. guaranteed by PT Matahari Putra Prima TBK
  • The underwriters in its offering of US$300 million 8.125% senior notes due 2012 by Hopson Development Holdings Limited
  • The underwriters in the offering of US$450 million 8.625% senior subordinated notes due 2012 byDel Monte Corporation
  • The underwriters in the offering of US$225 million 6.75% senior notes due 2014 by Gaylord Entertainment Company
  • The underwriters in the offering of US$85 million 9.875% senior subordinated notes due 2009 by United Industries Corporation
  • The underwriters in the offering of US$150 million 8.75% senior notes due 2012 by Brown Shoe Company, Inc.
  • Citizens Communications in its offering of US$700 million 6.25% senior notes due 2013
  • Vertrue Inc. in its offering of US$150 million 9.25% senior notes due 2014
  • Quest Diagnostics Incorporated in its offering of US$550 million senior notes ?Liability Management:             
    • Advisor in an exchange offer for a series of debt securities of PT Pakuwon Jati Tbk
    • Barclays and UBS as solicitation agents in a consent solicitation for a series of debt securities of PLN
    • Hutchison Whampoa Limited in connection with two tender offers for its guaranteed debt securities
    • Merrill Lynch, Morgan Stanley and Greenhill as dealer managers in a tender offer for five series of debt securities of RCN Corporation
    • nJ.P. Morgan and CIBC as dealer managers in a tender offer/consent solicitation for two series of debt securities of Alaska Communications Systems Group
    • Bank of America Securities as dealer manager in an exchange offer for six series of debt securities of Conseco, Inc.
    • Quest Diagnostics Incorporated in its tender offer/consent solicitation for debt securities of Unilab Corporation in connection with its acquisition of Unilab Corporation
    • Quest Diagnostics Incorporated in a tender offer for its debt securities

    Equity Offerings:

    • Goldman Sachs and various underwriters in connection with the US$140 million initial public offering and Nasdaq listing of American depositary shares of Gmarket Inc.
    • Banc of America Securities and various underwriters in connection with the initial public offering of common stock and Nasdaq listing of Ruth’s Chris Steak House, Inc.
    • Merrill Lynch and various underwriters in connection with the initial public offering of common stock and Nasdaq listing of Exact Sciences Corporation
    • SG Cowen and various underwriters in connection with the initial public offering of common stock and Nasdaq listing of Introgen Theraputics, Inc.
    • CSFB, Deutsche Bank Securities and various underwriters in connection with a primary and secondary offering of common stock of Salem Communications Corporation
    • Votorantim Celulose e Papel S.A. in connection with its initial public offering and NYSE listing of American depositary shares

    Equity-Linked Offerings:

    • The underwriters in the offering of S$149 million 4.0% convertible bonds due 2013 by Sino-Environment Technology Group Limited
    • The underwriters in the offering of US$276 million 4.0% convertible senior notes due 2013 by China Medical Technologies, Inc.
    • The underwriters in the offering of US$115 million 6.0% convertible senior notes due 2018 by ShengdaTech, Inc.
    • Solarfun Power Holdings Co., Ltd. in its offering of US$172.5 million 3.5% convertible senior notes due 2018
    • The underwriters in the offering of zero coupon bonds by Chi Mei Corporation, exchangeable into common shares of Chi Mei Optoelectronics Corp.
    • The underwriters in the offering of US$1.25 billion Mandatory Convertible Preferred Stock of Schering-Plough Corporation
    • The underwriters in the offering of US$200 million 2.25% convertible subordinated notes due 2011 of Human Genome Sciences, Inc.
    • The underwriters in the offering of US$115 million 5.25% senior convertible notes due 2009 by Titan International, Inc.
    • Merrill Lynch and various underwriters of US$587 million convertible debentures by United Health Services, Inc.
    • Merrill Lynch and various underwriters of US$200 million convertible senior subordinated notes of Regeneron Pharmaceuticals, Inc.
    • Memberworks Incorporated in its offering of US$90 million 5.5% convertible senior subordinated notes due 2010
    • Corning Incorporated in its offering of US$500 million mandatory convertible preferred stock
    • Quest Diagnostics Incorporated in its offerings of US$225 million contingent convertible debentures

    M&A/Private Equity:

    • A Korean company in its potential acquisition of a U.S. based consumer goods manufacturing company
    • Private equity fund in its acquisition of equity interest in a Korean distribution company
    • Tasameem Real Estate Co. L.L.C. in its acquisition of equity interest in a Korean industrial company
    • PRC clean energy company in its pre-IPO issuance of preferred shares to a fund investor
    • PRC travel company in its pre-IPO issuance of convertible notes to several fund investors
    • German American Capital Corporation in its acquisition of equity interest in Global Photon Holding Co.

    Education

    Northwestern University School of Law, J.D., 1997

    New York University Leonard N. Stern School of Business, M.B.A., 1995

    Ohio Wesleyan University, B.A., Economics and Accounting, 1988

     

    Bar Admissions/Qualifications

    New York and Hong Kong

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