Joshua M. Zimmerman is a partner in the Hong Kong office of Milbank, Tweed, Hadley & McCloy and a member of the firm's Securities Group.
Primary Focus & Experience
Based in Hong Kong since 1997, Mr. Zimmerman advises underwriters and issuers throughout Asia on a wide range of international securities transactions, with a focus on IPOs, high-yield debt, sovereign bonds, liability management and debt restructurings. Mr. Zimmerman also has experience with pre-IPO financings, securitizations, M&A and investment banking compliance.
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Recent representative transactions include advising:
- Deutsche Bank as dealer manager of a tender offer by True Move Company Limited, a leading Thai mobile telecommunications company, for its 10.75% Guaranteed Notes due 2013 and its 10.375% Guaranteed Notes due 2014.
- BW Group Limited, a leading international shipping company, on a consent solicitation with respect to its 6.625% Notes Due 2017.
- Goldman Sachs, as financial advisor to the Chairman and CEO of Harbin Electric, Inc., on Harbin’s US$750 million management-led buyout.
- China Liansu Group Holdings Limited, a PRC manufacturer of plastic pipes and pipe fittings, on its US$300 million offering of 7.875% Senior Notes due 2016.
- BOC International and UBS as joint lead managers and joint bookrunners of a US$250 million offering of 13.5% Senior Notes due 2016 by China South City Holdings Limited, a developer of integrated logistics and trade centers in China.
- Central China Real Estate Limited, a Henan-based property developer, on its US$300 million offering of 12.25% Senior Notes due 2015.
- Standard Chartered Bank as sole bookrunner and lead manager of a US$300 million offering of 13.00% Senior Notes due 2015 by Glorious Property Holdings Limited, a leading PRC property developer.
- An ad hoc committee of institutional noteholders on an exchange offer by Titan Petrochemicals Group Limited for its 8.5% Senior Notes due 2012, the first successful out-of-court restructuring of widely held Chinese high yield notes.
- Lumena Resources Corp. on its US$250 million offering of 12.0% Senior Notes due 2014.
- The Democratic Socialist Republic of Sri Lanka on its US$1 billion offering of 6.25% Bonds due 2021. Mr. Zimmerman is among the most experienced sovereign bond lawyers in Asia, having represented Sri Lanka on its last several sovereign bond offerings and previously having worked on sovereign bond offerings by Indonesia, Malaysia, the Philippines and Vietnam.
- Grameenphone Ltd., Bangladesh's leading mobile telecommunications company, on its US$140 million IPO and institutional placement, the largest equity offering in Bangladesh history.
- Deutsche Bank as Dealer Manager of a tender offer by Nine Dragons Paper (Holdings) Limited for its 7.875% Senior Notes due 2013.
PT Matahari Putra Prima Tbk on its contemporaneous US$200 million exchange offer and offering of new 10.75% Senior Notes due 2012. The transaction re-opened the Asian high yield market in August 2009.
Recognition & Accomplishments
Chambers Asia-Pacific 2011 ranked Mr. Zimmerman as a leading individual for Asian high yield.