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 is a leading corporate finance lawyer in the Asia Pacific region. Widely recognized for his high yield, leveraged finance, liability management and sovereign bond expertise, Mr. Zimmerman also advises underwriters and issuers on IPOs, privatizations, securitizations and investment banking compliance. Mr. Zimmerman has a geographically diverse practice, routinely executing transactions both in established markets, such as the PRC and Indonesia, and in frontier markets, such as Bangladesh, Mongolia, Sri Lanka and Vietnam.
News:Leading Capital Markets Partner James Grandolfo joins Milbank in Hong Kong
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James Grandolfo, a leading capital markets lawyer, has joined the firm as a partner in the Hong Kong office effective December 16, as a member of Milbank’s Global Securities group.Milbank Earns Top Tier Rank in 19 Areas by Chambers & Partners Global 2013
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Seventeen Partners Earn Highest Ranking in One or More Law Specialties
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Recent representative transactions include advising:
- National Savings Bank, a leading Sri Lankan state-owned bank, on its debut US$750 million offering of 8.875% Senior Notes due 2018. Barclays, Citigroup and HSBC were joint lead managers.
- Goldman Sachs, Credit Suisse and HSBC on the US$165 million New York law-governed bridge-to-bond acquisition financing for Nord Anglia Education's successful bid for the WCL Group. Nord Anglia Education is a leading global operator of premium schools and a Baring Private Equity Asia portfolio company.
- Barclays and DBS Bank Ltd. on a US$350 million refinancing by Star Energy Geothermal (Wayang Windu) Limited, an Indonesian geothermal power company, of its 11.5% Senior Secured Notes due 2015 with new 6.125% Senior Secured Notes due 2020.
- Nord Anglia Education on its 8.50%/9.50% Senior Payment-in-Kind (PIK) Toggle Notes due 2018. Goldman Sachs was sole lead manager.
- Mongolian Resources Corporation, a Mongolian iron ore company, on its debut offering of senior secured high yield notes. Bank of America Merrill Lynch, ING and HSBC were joint lead managers.
- Barclays and HSBC on the US$250 million debut offering of 8.0% Notes Due 2017 by Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), the first successful international bond offering by a Vietnamese state-owned bank.
- Mr. Zimmerman is regular outside counsel to The Democratic Socialist Republic of Sri Lanka on its sovereign bond offerings, including most recently Sri Lanka’s US$1 billion offering of 5.875% Bonds due 2022. Barclays, Bank of America Merrill Lynch, Citigroup and HSBC were joint lead managers. Mr. Zimmerman is among the most experienced sovereign bond lawyers in Asia, having led offerings by Indonesia, Malaysia, the Philippines and Vietnam.
- Nord Anglia Education on its US$325 million debut offering of 10.25% Senior Secured Notes due 2017 and entry into a “super senior” secured revolving credit facility. Barclays and Goldman Sachs were joint lead managers.
- 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. Morgan Stanley was solicitation agent.
- UBS on a proposed debut offering of high yield notes by China Qinfa Group Limited, a PRC coal logistics company.
- RBS and Standard Chartered on a proposed debut offering of high yield notes by GCL-Poly Energy Holdings Limited, a PRC polysilicon and wafer manufacturer.
- Hoang Anh Gia Lai Joint Stock Company, a Vietnamese conglomerate, on its US$90 million debut offering of 9.875% Senior Notes due 2016, the first corporate high yield notes offering out of Vietnam. Credit Suisse was sole bookrunner.
- Goldman Sachs, as financial advisor to the Chairman and CEO of Harbin Electric, Inc., on Harbin’s US$750 million management-led buyout and going private transaction.
- China Liansu Group Holdings Limited, a PRC manufacturer of plastic pipes and pipe fittings, on its US$300 million debut offering of 7.875% Senior Notes due 2016. J.P. Morgan and RBS were joint lead managers.
- BOC International and UBS on the US$250 million debut 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 debut offering of 12.25% Senior Notes due 2015. Deutsche Bank, ING and Nomura were joint lead managers.
- Standard Chartered on the US$300 million debut 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 and consent solicitation by Titan Petrochemicals Group Limited for its 8.5% Senior Notes due 2012. Goldman Sachs and ING were joint dealer managers.
- Lumena Resources Corp. on its US$250 million debut offering of 12.0% Senior Notes due 2014. BOC International, Credit Suisse and Deutsche Bank were joint lead managers.
- Grameenphone Limited, Bangladesh's leading mobile telecommunications company, on its US$140 million IPO and institutional placement, the largest equity offering in Bangladesh history. Citi was lead manager.
- 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. Citi and UBS were joint dealer managers and bookrunners.
Recognition & Accomplishments
Mr. Zimmerman is ranked in Chambers Asia Pacific 2013 as a leading lawyer for Asia high yield.