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Banking and finance: PRC firms
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JunHe LLP’s full-service practice stands out for its particular expertise in acquisition finance; the team has been particularly active in take-private transactions, advising clients including assisting Qihoo 360, Wuxi PharmaTech, China Cord Blood and iDreamSky Technology. In another illustration of its ability to handle significant mandates, it advised a number of financial institutions on structured finance made available to real estate funds and REITs. Nelson Zhou heads the team, in which Gavin Wang and Jun Zhou are the main contacts.
King & Wood Mallesons continued to invest in its banking and finance practice with a partner-level hire – Laurence Yuan joined from Paul, Weiss, Rifkind, Wharton & Garrison LLP in November 2015 – and five internal partner promotions. Recent highlights include advising on a financing transaction in the newly established Tianjin Free Trade Zone and handling a number of cross-border project finance transactions. The group is also developing a significant reputation in the evolving area of fintech. Practice head Jack Wang is widely regarded as being ‘one of the best lawyers in the market for banking and finance’. Within the team, the ‘commercially minded’ Stanley Zhou has particular expertise in Shanghai Free Trade Zone matters; Ling Wang, Xin Zhong, Roy Zhang, Eddie Hu are also highly recommended.
Zhong Lun Law Firm advises domestic and multinational financial institutions, as well as large corporates; clients include the International Finance Corporation (IFC), Everbright Financial Leasing and Export-Import Bank of China. Dongyue Chen advised Punch Powertrain and its Chinese subsidiary, Punch Powertrain Nanjing, on obtaining syndicated loans from BNP Paribas Fortis and the European Investment Bank. Wantao Yang specialises in project finance, syndicated loans and securitisation; Shirley Lu, Borong Liu, Dageng Han, and Rong Fan are other key figures.
Fangda Partners is a prominent name for lender and borrower work on acquisition finance, project finance and infrastructure development projects. Stanley Chen and Xie Zheng handled a number of high-end leveraged financings and bridge financings for take-private transactions. Chen recently assisted a bank with the financing of the construction of factory facilities.
In keeping with its capability to handle large domestic and cross-border instructions, Global Law Office’s ‘excellent’ ten-partner team acts for clients such as Export-Import Bank of China, Bank of China, HSBC and BNP Paribas. Lawrence Lin and Xin Zhang are the practice co-heads; Lin recently advised The Bank of East Asia on providing a $120m offshore facility to a Cayman Islands company and Zhang acted on a $2bn financing of the construction of an infrastructure project and a cross-border PPP project financing. Ben Zhong, who ‘understands the need of his clients’ worked alongside Tracy Wang to assist a banking consortium with providing a term loan facility of up to $1.24bn to a large Chinese SOE. Xuemei Liu specialises in asset and trade finance.
Jingtian & Gongcheng’s recent work includes a number of cross-border acquisition financings and project finance transactions. The well-regarded Hongjiu Zhang focuses on financing, FDI and capital markets, and Jiejiang Wu advises domestic and international clients on complex aircraft and project finance. Representative clients include China Development Bank, Export-Import Bank of China, China Huarong International and United Overseas Bank.
Maggie Qin at AllBright Law Offices assisted China Development Bank Hong Kong branch as appointed coordinator with regard to a syndicated loan facility for China Cinda Asset Management to acquire Nanyang Commercial Bank. The team also handles trade finance and real estate loans. Xianming Li is another name to note.
DeHeng Law Offices has particular expertise in cross-border project finance and acquisition finance and also advises foreign banks on establishing operations in China. The team handled a number of project finance mandates in the mining and construction sectors. Notable practitioners are Xu Zhang and corporate finance specialist Kai Ma in Beijing, as well as Shenzhen-based Haobo Zeng.
Dentons China recently acted for China Construction Bank (Asia) and China Construction Bank Hong Kong branch to establish a number of cross-border financial products, including syndicated and structured loans. Beijing-based Qing Guo and Leo Zhou jointly lead the sizeable team, notably which also includes cross-border trade finance specialist Chunyang Wang.
Han Kun Law Offices’ outstanding aircraft finance team is led by the highly regarded Shu Wang and Jun Zhu; it advises a large number of well-known domestic and foreign aircraft leasing companies, commercial banks and domestic airlines on the financing of aircraft and aviation equipment. Recent highlights include acting for Bank of China (Hong Kong) on its refinancing of seven aircraft leased by ICBC Leasing to a number of PRC-based airlines. The team also assisted C. Banner International with the financing aspect of its acquisition of Hamleys toy retailer and is acting for Reignwood Group on its $500m financing of the purchase of 10 Trinity Square. James Miao returned to AllBright Law Offices in July 2016.
Llinks Law Offices’ client roster features a healthy balance of local and international lenders, borrowers, sponsors and export credit agencies. Michael Mei assisted Export-Import Bank of China on its $1.5bn loan facility to a Pakistani port joint venture company, which is indirectly owned by Sinohydro. Charles Qin is a key name to note for project finance and syndicated lending transactions.
Anjie Law Firm is a prominent name for cross-border project finance work; it also has substantial experience acting for international financial institutions with their interests in China. Gulong Ren is assisting China Development Bank with its £300m loan to China General Nuclear to finance its investment in the Hinckley C nuclear power plant project. The team also acted for Generali China Asset Management on fundraising through setting up a debt investment plan for the southeast belt freeway project in Kunming. Managing partner Hao Zhan is also recommended.
Echo Liu heads the finance and corporate department at Boss & Young, Attorneys At Law. Liu has advised various parties on setting up venture capital funds and renminbi funds.
East & Concord Partners advised a bank on a debt restructuring and financing project of a real estate group. Clients include a mix of domestic and foreign banks as well as large corporates, among them Bank of China, HSBC, New Century International Leasing and New China Life Insurance Company. Managing partner Dorothy Xing, Feng Chen and Xuan Zhang are the main contacts.
FenXun Partners handles a broad range of structured finance transactions and its tie-up with Baker McKenzie adds an international aspect to its resources. Xusheng Yang acted as Chinese counsel to Ansett Worldwide Aviation Services regarding the financing of an aircraft purchase and lease deal with Spring Airlines and assisted ICBC with an A$80m syndicated facility to Poly & Southlink Developments for the development of a residential apartment project in South Yarra, Melbourne.
Run Ming Law Office is best known for its aircraft finance practice, where it acts for lessors and airlines on cross-border transactions. Yi Liu recently acted for an export credit agency and HSBC on a syndicated export facility to purchase an Airbus A330.