Image

Jaclyn Yeap

Partner

Email

jaclyn.yeap@aoshearman.com

Phone

+65 9622 3994

Offices

Singapore

V-CARD
Jaclyn has extensive experience in advising issuers and underwriters on a wide range of debt capital markets transactions in Greater China and across Asia, including establishments and updates of, and drawdowns under, medium term note programmes,

Reg S standalone bond issuances with credit enhancement structures such as keepwells, equity interest purchase undertakings and standby-letters of credit, bank and insurance regulatory capital instruments, LAC instruments, convertible and exchangeable bonds, corporate hybrids, and liability management exercises.

Jaclyn is a leading expert in the green, social and sustainability bond market, having advised on numerous significant, high-profile ESG-related transactions involving market first features.

She also advises on structured finance transactions (including notes linked to different underlying assets).

Jaclyn is recognized as a “Next Generation Partner” by Legal500 and a “Rising Star” in debt capital markets by IFLR.

She is admitted as a solicitor in England & Wales and in Hong Kong. She is fluent in Mandarin Chinese and English, and can conduct business meetings in Cantonese.

Expertise

Industries

Experience

Representative matters

  • The joint lead managers and joint bookrunners on the sustainability re-linked bond offering by Bank of China Limited, London Branch, comprising USD300 million 1% notes due 2024 under Bank of China Limited’s USD40 billion MTN programme. This marks the world’s first sustainability re-linked bond issuance. This deal won Debt and equity-linked Deal of the Year, IFLR Asia-Pacific Awards 2022.
  • China Life Insurance (Overseas) Company Limited, Hong Kong Branch: advising the managers on its issuance of USD2bn 5.35% dated subordinated capital bonds due 2033. 
    The HKSAR Government on the inaugural issuance of HKD-denominated tokenised green bond where the beneficial interests in the green bond are recorded on issue date in the tokenised securities accounts on a distributed ledger technology-based digital assets platform.
  • Ministry of Finance of the People’s Republic of China, the joint lead managers on Ministry of Finance of the People’s Republic of China’s offshore sovereign bond offerings for 5 consecutive years, including the Government’s first foreign currency bond offering since 2004, its first Euro-denominated bond issuance in 15 years and the largest Reg. S offering by an Asian sovereign to-date.
  • The joint lead managers on the issuance of USD450m 3.40% notes due 2024 by Wuhan Financial Holdings (Group) Co. Ltd.
  • Bank of Communications Hong Kong branch: advising the joint lead managers on the issuance of USD500million floating rate notes due 2026. The bonds are issued under Bank of Communication’s Green Bond Framework which is the first to take reference from the Common Ground Taxonomy (June 2022 update version) published by The International Platform on Sustainable Finance.
  • A global financial institution as the subscriber on the issuance of SOFR floating rate secured notes, secured by securities standing to the credit of a securities collateral account of the issuer (an overseas branch of a PRC financial institution) with a clearing system.
  • Incumbent counsel advising the relevant dealers on the various CNY-denominated issuances under a supranational’s GMTN programme.
  • The joint lead managers and joint bookrunners on the first offshore bond offering by the People’s Government of Shenzhen Municipality of Guangdong Province of the People’s Republic of China. This also marks the first time a PRC municipal government issues RMB-denominated offshore bonds in Hong Kong. This deal won Debt Market Deal of the Year – Midsize, ALB China Law Awards 2022. 
  • The joint lead managers and joint bookrunners on the inaugural dual-currency blue bond offering by Bank of China Limited, Paris Branch and Bank of China Limited, Macau Branch, comprising USD500mn 0.95% bonds due 2023 and CNY3bn 3.15% bonds due 2022. This marks the first blue bond issuance in Asia and the fourth such issuance globally. It is also the first blue bond issued by a commercial bank. This deal won ESG Deal of the Year , IFLR Asia-Pacific Awards 2021.
  • The joint lead managers in connection with the multi-tranche Reg S and Rule 144A offering of USD6 billion sovereign bonds by the Ministry of Finance of the People’s Republic of China. This deal won China Deal of the Year, ALB China Law Awards 2021 and Debt Market Deal of the Year-Premium, ALB China Law Awards 2021.
  • Licheng International Development Co. Ltd. on its issuance of USD130m 7.30% guaranteed bonds due 2026.
  • Taishan Finance International Business Co. Limited on its issuance of USD300m 3.50% guaranteed bonds due 2024.
  • The joint lead managers on the issuance of CNY1.26bn 4.2% bonds due 2027 by Chongqing Fuling Industrial Development Group Co. Ltd.

Recognition

“Jaclyn is sophisticated and possesses sound understanding of legal knowledge while balancing commercial needs.”
Chambers, 2024
“She is professional, knowledgeable, friendly and understanding. She always has an answer for my legal queries and can always provide effective advice. She demonstrates strong leadership in leading her team in execution.”
Chambers, 2024

Qualifications

Admissions

Admitted as solicitor, Hong Kong, 2015
Admitted as solicitor, England and Wales, 2009

Academic

BA (Hons), Law, University of Cambridge, 2006

Languages

English, Chinese (Mandarin)
Disclaimer
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.