Hong Kong > Asset finance
Index of tables
This section recognises firms’ aircraft and ship financing capabilities on both the lender and borrower side.
The ’experienced and reliable’ team at Mayer Brown JSM draws praise for its experience on aircraft, ship and railway project financings. It advised ICBC Financial Leasing on the $2bn purchase of 42 Airbus A320 aircraft, which was notable for being the first transaction in which a PRC lessor acquired commercial aircraft directly from a foreign aircraft manufacturer. Firm-wide practice leader Alastair MacAulay has ’a well-balanced’ approach. Richard Stock is also recommended.
Emma Casdagli leads the aircraft finance team at Reed Smith Richards Butler, which acted for a number of commercial financiers in the funding of 12 aircraft for ICBC Leasing. On the ship finance side, banking head Andrew Brown, Chris Tang and Peter Lee advised Noble Group on multi-vessel financings totalling $400m. The firm also has expertise in ECA finance, Islamic finance and operating lease transactions.
The asset finance group at Baker & McKenzie regularly represents airlines, purchasers, lessees, lessors, lenders and other participants in a broad range of transactions, and is well regarded for its aviation expertise. Andrew Lockhart and Allen Ng recently advised Thai Airways on part of its 2012- 2017 aircraft acquisition plan, which involves operating lease transactions relating to 37 aircraft. Clients also include Air China, Shanghai Airlines and DBS Bank.
Clients recommend Clifford Chance for its aviation finance capabilities, with Hong Kong based Paul Greenwell singled out. The pan-Asian team also includes partners in Bangkok, Beijing, Singapore and Tokyo, and acts for debt and equity financiers and lessors to Asian airlines. Work highlights included advising ICBC’s Beijing Zhushikou branch on its first cross-border aircraft financing. It also handles a number of other multi-jurisdictional transactions for the client.
Norton Rose Hong Kong’s team is highly regarded for ship finance transactions, as well as its ’excellent’ response times and industry knowledge. Practice head Davide Barzilai recently advised United Overseas Bank on a $380m uncommitted revolving credit facility provided to China Shipbuilding & Offshore International (HK). Barzilai and of counsel Jonathan Silver possess ’sector-specific knowledge and excellent commercial acumen, which complement their ability to highlight the key legal risks’. Clients also include Standard Chartered Bank and HSBC.
Stephenson Harwood specialises in both aviation and shipping finance. It recently advised AirAsia on its sale and leaseback of four Airbus A320 aircraft from ICBC Financial Leasing. Stephanie Wong and Hongkai Zhou co-head the ship finance practice, and newly promoted consultant Simon Wong is the key contact for aircraft finance. The group also acts for Lloyds TSB, HSBC and Singapore Airlines.
Ince & Co’s asset finance capability stems from its renowned shipping practice. The team’s expertise covers corporate M&A and acquisitions of vessels, as well as bonds and equity-related products. David Beaves and Shanghai-based Vincent Xu recently acted for China Development Bank on a $500m loan facility to Piraeus Bank to finance the acquisition of vessels by Greek shipowners.
White & Case’s ’courteous and easy-to-deal-with’ asset finance team is led by Hallam Chow, whose experience also includes equipment and facility leasing. In an illustration of a reported increase in private aircraft purchases and financings in Hong Kong, Chow represented Magic Vantage Group in the acquisition and financing of a Bombardier BD-700-1A11 aircraft.
Led by Matthias Schemuth, Ashurst Hong Kong’s asset finance capability is complemented by the firm’s projects and energy expertise. Its client roster includes Australia and New Zealand Banking Group, DZ Bank, Bank of America and Mizuho Corporate Bank.
Holman Fenwick Willan’s strong ship finance practice includes esteemed partners Henry Fung and Patrick Cheung. Work highlights included advising a North American bank on the financing of a HK$185m loan facility in the shipping industry.
The newly established Hong Kong office of Watson, Farley & Williams in association with Lau, Leong & Co is particularly well versed in ship finance matters. Madeline Leong transferred to Hong Kong from the firm’s Singapore base for the office opening in March 2012.