Kevin Tong
Kevin Tong

Kevin Tong

Partner

LOCATION:
Hong Kong
DIRECT:
+852 2825 9229

Kevin Tong

Partner

LOCATION:
Hong Kong
DIRECT:
+852 2825 9229


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Kevin Tong heads up the debt capital markets (DCM) practice of Deacons. He has extensive experience in a full range of DCM transactions, with a particular focus on offshore bonds and equity linked instruments issued by PRC and other entities. He is one of the very few practitioners in the market who has been actively involved in the development of the offshore bond market since it opened in 2007.

Kevin has advised both issuers and underwriters on the majority of the ground-breaking and industry award-winning DCM transactions, including:

  • the sovereign RMB bond issues by the Ministry of Finance of the People’s Republic of China (since 2010). The 2010 issue had an Honourable mention for Deal of the Year by Asian Counsel in 2010, and the 2011 and 2012 issues were awarded ALB “DCM Deal of the Year” in 2012 and 2013, respectively;
  • the offshore bill issuances by The People’s Bank of China in Hong Kong since 2018. The 2018 issuance was awarded “Deal of the Year” by China Business Law Journal in 2019;
  • two of the first three offshore RMB bonds to be issued when the market opened in 2007;
  • the issuance of the inflation-linked retail bond (iBond) in 2016 and Silver Bond in 2016 to 2018 by the HKSAR Government;
  • the issuance of RMB bonds guaranteed by Bohai Steel Group Co., Ltd. in 2014, which was the first offshore RMB bond issued pursuant to the new SAFE regulations governing cross-border guarantees and security effective June 2014;
  • the issuance of Basel III-compliant Undated Non-Cumulative Subordinated Additional Tier 1 Capital Securities in 2015 and Basel III-compliant Subordinated Notes by The Bank of East Asia, Limited in 2014, which was the first Basel III-compliant Subordinated Notes issued by The Bank of East Asia, Limited;
  • the "historic" McDonald's RMB bond which marked the first RMB bond to be issued by a multi-national company in the world. This was awarded ALB “DCM Deal of the Year” in September 2011 and “Deal of the Year” by the China Business Law Journal; and
  • the issue by BP Capital Markets PLC in September 2011, the first RMB bonds to be listed on the London Stock Exchange.

Kevin has over 17 years of dedicated experience in a full range of DCM transactions, which includes advising listed companies, corporates in a diverse array of industries, financial institutions and government entities on bond transactions with varying structures, including direct issuance by PRC state-owned enterprises and issuance by offshore entities of PRC corporations supported by various forms of credit enhancement and/or security arrangements.

Kevin also advises issuers and managers on liability management exercises and the issue of regulatory capital instruments.

Kevin is also actively involved in the development of the retail structured products, new financial product platforms and derivatives in Hong Kong. He has advised major financial institutions and issuers on a number of “first of its kind” issuances, both in the retail structured products space (including retail structured notes, equity linked investments and SEHK-listed structured products platform) as well as in the topical Renminbi internationalisation forum.

Education

1999 - LL.B. First Class Honours, The University of Hong Kong 

2000 - P.C.LL., Passed with Distinction, The University of Hong Kong

Accolades

Recognised as a leading lawyer for Capital Markets: Debt (International Firms) (China) in Chambers Asia-Pacific (2021)

Recommended Lawyer for Capital Markets: Debt in Legal 500 Asia Pacific (2021)

Recognised as a Highly Regarded lawyer for Capital Markets: Debt in the IFLR 1000 (2021)

Awarded the Deal of the Year for “Mainland Ministry issues sovereign bonds in Hong Kong” (a total amount of RMB 10 billion) in China Business Law Journal (2020)

Recognised as Up and Coming lawyer for Capital Markets: Debt (International Firms) (China) in Chambers Asia-Pacific (2020)

Recommended as a Notable Practitioner for Capital Markets: Debt in the IFLR1000 (2019)

Awarded the Deal of the Year for “People’s Bank of China’s bill issuances in Hong Kong” (a total amount of RMB 160 billion) in China Business Law Journal (2019)

 
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