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Loeb Represents Xtep International in the Issuance of HK$500 Million in Convertible Bonds

Loeb & Loeb advised Hong Kong-listed Xtep International Holdings Limited (SEHK: 01368.HK) and its wholly-owned subsidiary, Xtep Global Investment Limited, in the issuing of: (i) HK$500 million convertible bonds by Xtep International to GSUM IV Holdings Limited; and (ii) US$65 million perpetual convertible bonds by Xtep Global to GSUM VII Holdings Limited, respectively. GSUM IV Holdings Limited and GSUM VII Holdings Limited are both exempted companies managed by Hillhouse Capital Management, a global firm of investment professionals and operating executives. 

More information can be obtained from Xtep International's press release.

Xtep International is a leading multi-brand sportswear company and is principally engaged in the design, development, manufacturing, sales, marketing and brand management of sportswear, including footwear, apparel and accessories. The company has an extensive distribution network of over 6,200 stores nationwide. Its shares are listed on the Main Board of the Hong Kong Stock Exchange and is a constituent of MSCI China Small Cap Index, Hang Seng Composite Index Series and Shenzhen-Hong Kong Stock Connect.

The Loeb deal team that advised Xtep International and Xtep Global in the transaction was led by Corporate & Capital Markets partners Michael Fung, Jeffrey Kung and Robert Caldwell, with support from counsels Steve Woo and Emily Fan and associates Edgar Siu and Anna Chau.