Banking and finance in Hong Kong

Allen & Overy

Operating with an integrated team across Hong Kong, Shanghai, and Beijing, Allen & Overy’s top-tier banking and finance practice is well-regarded for cross-border transactions across the Asia-Pacific region. Its enviable client list includes international investment and commercial banks, local and multinational corporates, and a growing list of funds and other non-bank financial institutions. Head of practice Roger Lui is recommended for finance transactions, including corporate loans, pre-IPO financing, equity-backed financing, structured and acquisition financing, real estate financing, and project financing. Vicki Liu acts for borrowers and lenders on various structured debt financings. Cindy Lo specialises in event-driven acquisition financing and structured financing with a PRC element. Fiona Cumming is experienced in corporate restructuring, rescues, and insolvency matters.

Practice head(s):

Roger Lui; Yvonne Ho (Beijing)

Testimonials

‘Very professional, excellent knowledge and experience in cross-border transaction’.

‘The firm definitely has very good strategies in terms of developing and maintaining relationships with clients’.

‘Whenever I work with A&O, I see an excellent implementation of the one-stop-shop approach of law firms’.

‘Fiona Cumming is someone is practical, hardworking and quick-thinking’.

‘Fiona Cumming knows when to step in and is always very helpful on important calls’.

‘Excellent team, Personable, highly knowledgeable, and always ensure the clients’ interests are put first and protected’.

‘Patrick Wong and Fiona Cumming are pragmatic and solutions-driven’.

‘Great team to work with’.

Key clients

Huazhu GmbH & Co. KG

HSBC / Hang Seng Bank

BNPP

Standard Chartered Bank

Morgan Stanley

Credit Suisse

CLSA Limited

Deutsche Bank

ICBC International

Bank of China

SSG Capital Management (Hong Kong) Limited

Work highlights

  • Advised ANZ, Bank of China (Hong Kong), Societe Generale and Westpac as mandated lead arrangers and the lenders on a $400m debut syndicated term loan facility for SPEP Energy Hongkong Limited, a subsidiary of Sinochem Group Co., Ltd. Advised Australia and New Zealand Banking Group on the debut syndicated facility for SPEP Energy Hongkong Limited (SPEP), a subsidiary of Sinochem Group Co., Ltd (Sinochem) who also provided a corporate guarantee for the facility.
  • Advised Huazhu Group Limited on the €440m term loan and $500m revolving credit facilities for purposes of financing the acquisition of the shares in Steigenberger Hotels Aktiengesellschaft,a German hospitality company, and other general corporate and working capital purposes of the borrower group.
  • Advised the mandated lead arrangers and lenders in relation to the financing of an acquisition by SCAPE of a student accommodation portfolio from Atira, and a subsequent financing of the acquisition by SCAPE of a further 14 property student accommodation portfolio from Urbanest, two of the largest property transactions in Australia in the last year. Advising (i) Morgan Stanley and CBA in relation to the financing of an acquisition by SCAPE of a student accommodation portfolio from Atira, and (ii) Morgan Stanley, CBA and UOB in relation to the financing of the acquisition by SCAPE of a student accommodation portfolio from Urbanest.

Clifford Chance

Clifford Chance has a large banking team spread across Greater China; its integrated team has the ability to advise on local laws across the globe. The practice leverages mandates from leading international banks, funds, private equity investors and corporates in relation to a broad range of financing matters. As sole legal counsel to the Asia Pacific Loan Market Association (APLMA), the firm helps to shape the banking regimes in which its clients operate. Matthew Truman is highly regarded for acquisition finance, general banking and restructuring and is dual-qualified as a solicitor in Hong Kong, and England and Wales. Dauwood Malik is recommended for debt products, with a particular focus on syndicated finance. Vicky Ma handles international project finance and China outbound financings. Anthony Wang heads the team.

Practice head(s):

Anthony Wang

Key clients

Bank of China

Citi

CITIC Capital Partners

CVC

Hillhouse Capital

HSBC

ICBC

JPMorgan

Permira

Standard Chartered Bank

Work highlights

  • Advised on all three investment tranches on the HK$39 bn recapitalisation plan announced by Cathay Pacific.
  • A cross-border, multi-jurisdictional Clifford Chance team has been involved in all aspects of the financings of the $1.8bn M&A of Schwan’s Company by CJ Cheiljedang (as the majority stakeholder) and Bain Capital (as the minority stakeholder), advising the financiers to both the majority and the minority stakeholders.
  • Advised Standard Chartered Bank as arranger on the financing of FWD Group Financial Service Pte. Ltd’s acquisition of SCB Life Assurance Public Company Limited from The Siam Commercial Bank Public Company Limited.

Kirkland & Ellis

With a focus on borrower-side work, Kirkland & Ellis is noted for its expertise in private equity borrower and complex credit fund matters. It leverages mandates from private equity sponsors, credit funds and strategic corporate investors across the Asia-pacific region. The practice covers a broad spectrum of banking and finance matters, including sponsor-backed leveraged finance, pre-IPO credit investments, project financings, restructurings, loan portfolio acquisitions, structured credit investment, and mezzanine and payment-in-kind (PIK) financings. The team is now headed by Manas Chandrashekar, who joined from Latham & Watkins LLP, with experience in acquisition and leveraged financings, corporate financings, asset backed financings, investment fund financings, and real estate financings. Jacqueline Zheng handles complex cross-border acquisition financing, structured financing, direct lending and special situations transactions across the region. Wei Yang Lim was promoted to partner. Former head of team David Irvine left for Linklaters in London. Daniel Abercromby joined White & Case.

Practice head(s):

Manas Chandrashekar

Other key lawyers:

Wei Yang Lim; Jacqueline Zheng; Karen Ho

Key clients

KKR

Investor consortium comprising Warburg Pincus Asia LLC, General Atlantic Singapore Fund Pte. Ltd., Ocean Link Partners Limited, and Mr. Jinbo Yao, Chairman of the Board and Chief Executive Officer of 58.com

New Frontier Health Corporation

Bain Capital

A consortium of investors comprising Centurium Capital, PW Medtech Group Limited (HKSE: 1358), CITIC Capital, Hillhouse Capital, Temasek and Marc Chan

The founders of Topcast Aviation Supplies Company Limited

Warburg Pincus

Eddingpharm

Work highlights

  • Represented KKR in its RMB2.9 bn facilities for the acquisition of a majority interest in NVC International Holdings Limited’s China lighting business.
  • Represented an  investor consortium on its $8.7bn take-private of 58.com.
  • Represented New Frontier Corporation (now renamed as New Frontier Health Corporation) in its RMB equivalent of $300m facilities for the acquisition of United Family Healthcare.

Linklaters

Linklaters’ broad practice includes deep experience in leveraged and acquisition finance, in particular acting for arrangers on private equity backed leveraged buy-outs. Structured lending is another area of focus for the practice, leaning on support from its corporate, capital markets and regulatory experts, it provides a comprehensive solution for transactions. Nathalie Hobbs, who heads the team, is recommended for real estate finance. Native Mandarin speaker Frank Cui handles leveraged finance deals across Asia. Maggie Ng counts some of Asia’s biggest international banks amongst her client base. Davide Mencacci and John Bona joined Milbank in January 2021.

Practice head(s):

Nathalie Hobbs

Other key lawyers:

Frank Cui; Maggie Ng

Key clients

ANZ

Bank of America Merrill Lynch

Bank of China

BNP Paribas

Cathay United Bank

China Construction Bank

China Development Bank

China Merchants Bank

Citi

CPPIB

Credit Suisse

CTBC Bank

DBS

Deutsche Bank

E.Sun Bank

HSBC

Huarong

Huatai

JP Morgan

Morgan Stanley

Natixis

Nomura

Oaktree

Ping An Bank

Standard Chartered

Shanghai Pudong Development Bank

Taipei Fubon Commercial Bank

UBS

Work highlights

  • Acting for China Merchants Bank on the HK$7.5bn acquisition financing to fund the privatisation of Li & Fung by GLP and the Fung family.
  • Advised Bank of China Limited, The Hong Kong and Shanghai Banking Corporation Limited and Citigroup Global Markets Asia Limited as coordinators and mandated lead arrangers and bookrunners on the $1.2bn term and revolving facilities for Xiaomi Best Time International Limited.
  • Advising the arranger on a financing for the acquisition of approximately a 40% interest in a hospital group in the Philippines by way of acquisition of shares, subscription for shares, acquisition of exchangeable bonds exchangeable into Target Shares and subscription for exchangeable bond exchangeable into Target Shares.

White & Case

White & Case is noted for its experience handling large bank finance deals across Asia. At the forefront of the market for lender-side work, the practice has recently continued to strengthen its private equity sponsor/borrower financing capability. The practice has leveraged acquisition finance and high-yield experts in key financial hubs across Asia, as well as London and New York. Head of the Asia-Pacific banking and restructuring practices, Eugene Man is recommended for bank finance work. Baldwin Cheng is well-regarded for major pan-Asian financings for Chinese banks and leading global banks active in Greater China. Stephen Howard, who was recently promoted to partner, is recommended and Daniel Abercromby is a new addition to the team. Former head of team Eric Berg has retired and Andrew Bishop   has joined Latham & Watkins LLP.

Practice head(s):

Eugene Man

Testimonials

‘Commercial and efficient’.

‘Very commercial, excellent legal knowledge and market know-how.’

‘Responsive and helpful’.

‘Service-oriented and reliable’.

‘Eugene man is an excellent partner – responsive, thorough, and reliable’.

Key clients

Greentown China Holdings Limited

China Molybdenum Co., Ltd.

EQT Partners AB, GPA Global

Gaw Capital Partners

Stonepeak Infrastructure Partners

Deutsche Bank

Credit Suisse

Morgan Stanley

JPMorgan

China Merchants Bank

China Minsheng Banking Corp., Ltd.

Bank of China Limited

Work highlights

  • Advised the global coordinators, mandated lead arrangers (MLAs), underwriters and bookrunners and Citicorp International Limited as agent and security agent on the up-size and amendment and extension transactions in respect of Alipay (Hong Kong) Holding Limited’s newly sized $6.5 bn senior secured revolving credit facilities.
  • Advised China Minsheng Banking Corp., Ltd. Hong Kong Branch as arrangers in connection with a term loan facility to WM Holding (HK) Limited and a term loan facility to WM New Retail Limited for the approximately €1.5bn acquisition of 80% stake in the Chinese operations of METRO, the German wholesaler by Wumei Technology Group, a leading retailer in China.
  • Advised Gaw Capital Partners in HK$2.81bn senior credit facilities for acquisition of a commercial building in North Point, Hong Kong.

DLA Piper

DLA Piper’s China-based banking and finance team handles mandates throughout the region, with a focus on China, Singapore, Korea and Indonesia. The firm’s client base includes global credit and private equity funds at the top of the market. Under the leadership of recommended practitioner Matthias Schemuth, the practice acts for sponsors, developers, commercial banks, multilateral lending agencies and export credit agencies on project financings, particularly in the energy and mining sectors. Other areas of focus include structured commodity and trade finance, asset finance and leasing finance in emerging markets.

Practice head(s):

Matthias Schemuth

Other key lawyers:

Tom Van Hoof; Paul Lee; Carolyn Dong

Testimonials

‘The team is particularly good in the area of structured trade finance. They offer practical and sensible advice’.

‘Matthias Schemuth and Tom van Hoof are particularly good’.

‘Matthias leverages on his experience working with trading houses and other counterparties to give banks insight’.

‘Tom Van Hoof is a great senior member within Matthias’ team and manages transactions with an efficient and approachable manner’.

Key clients

BBVA

DBS

DZ Bank

Rabobank

Deutsche Bank

Credit Agricole

ANZ

ICBC Asia

Hang Seng Bank

Standard Chartered Bank

Sumitomo Mitsui Trust Bank

Far Eastern International Bank

Tai Fung Bank

Work highlights

  • Advising Banco Bilbao Vizcaya Argentaria (BBVA) in respect of telecoms financing for PT Huawei Tech Investment under a Network Expansion Procurement Agreement with PT Hutchison, in East Kalimantan, Indonesia.

Latham & Watkins LLP

Latham & Watkins LLP’s broad practice acts for both lenders and sponsors on complex finance transactions across Asia. With the ability to provide US, English, Hong Kong, Singapore and Japanese law advice, the firm is well-placed to handle multi-jurisdictional matters for international clients. The team is well-regarded for syndicated lending transactions, leveraged lending and leveraged recapitalisation transactions, mezzanine facilities and structured note and private placement transactions. Key practitioner Gary Hamp is noted for his expertise in leveraged and acquisition finance. Howard Lam is recommended for China-related financing transactions. Timothy Hia heads the team from Singapore. Manas Chandrashekar left for Kirkland & Ellis.

Practice head(s):

Timothy Hia (Singapore)

Testimonials

‘Strong, commercial and responsive’.

‘Safe pair of hands, always willing to go above and beyond’.

‘Howard Lam  and Tim Hia have strong technical skills and are always helpful’.

Key clients

Bank of America

Carlyle

Morgan Stanley

Hopu Capital

TPG

Baring Private Equity

Platinum Equity

Warburg Pincus

BNPP

JPMorgan Chase Bank

HSBC

Citibank

Partners Group

Bank of China

Tianqi Lithium Corporation

Tencent Holdings

Huarong International

Work highlights

  • Advised Bank of America on a $6.5bn term loan and revolving credit facility for Tencent Asset Management Limited, a provider of investment management services.
  • Advised Carlyle Asia Partners on a term loan facility in connection with Carlyle and CITIC’s privatisation of Asia Satellite Telecommunications Holdings Limited.
  • Advised Hopu Investments on an acquisition term loan facility in connection with Hopu Investments’ acquisition of certain assets of FWD Group, an insurance company.

Mayer Brown

Mayer Brown acts for lenders and borrowers on the full gamut of banking and finance transactions. Under the leadership of Richard Stock, Fanny Wang and Francis Chen have steadily built a strong client base, which includes leading global, PRC, Japanese and local banks. Doos Choi has over 20 years’ experience in multi-jurisdictional, multi-tiered, full and limited recourse financings. Chen advises financial institutions and large corporations on various financing structures, including bilateral and syndicated loan transactions. Wang acts for developers on development and redevelopment finance.

Practice head(s):

Richard Stock

Other key lawyers:

Doos Choi; Fanny Wang; Francis Chen; Dion Yu

Key clients

Asian Development Bank

Oasis Power Management Limited

Ronshine China Holdings Limited

BIM Group

The Hongkong and Shanghai Banking Corporation Limited

Hang Seng Bank Limited

Mizuho Bank, Ltd.

China Everbright Bank Co., Ltd.

Work highlights

  • Advised The Hongkong and Shanghai Banking Corporation Limited on the HK$7.5bn debut sustainability-linked syndicated term and revolving loan facilities to LHIL Finance Limited.
  • Acted for China Everbright Bank Co., Ltd., Hong Kong Branch as agent and one of the mandated lead arrangers of a $840m 5-year syndicated revolving loan facility to CALC PDP 5 Limited.
  • Advised BIM Group on the $87.5m offshore financing provided by the IFC for the development of hotel and tourism resorts in Ha Long, Phu Quoc and Vientiane in conjunction with certain onshore facilities provided by a local bank.

Norton Rose Fulbright

Norton Rose Fulbright handles a broad spectrum of financing transactions and is particularly strong in acquisition and leveraged finance, bilateral and syndicated finance, export finance, and trade and receivables finance. The team, which provides advice in English, Mandarin and Cantonese, acts for bank and lender clients. Practice head Peter Haslam has over 30 years’ experience in international banking matters. Key practitioner David Milligan heads the firm’s LIBOR/IBOR practice in Asia and advises international and Chinese banks, and borrowers and non-bank lenders, on a range of financing issues. Senior associate Rex Chan  is experienced in acting for lenders and leasing companies on ship finance and sale and leaseback transactions.

Practice head(s):

Peter Haslam

Other key lawyers:

David Milligan; Rex Chan

Key clients

ANZ

Bank of China (Hong Kong)

China Mengniu Dairy Company Limited

China Dili Group

CMB Wing Lung Bank Limited

Credit Agricole

Credit Suisse (Hong Kong) Limited

CRIC Securities Company Limited

Hang Seng Bank Limited

HSBC

Huatai Financial Holdings (Hong Kong) Limited

ICBC Asia

Merrill Lynch (Asia Pacific) Limited

TFI Securities and Futures Limited

UBS AG

United Laboratories International Holdings Limited

Work highlights

  • Advised a syndicate of 20 banks led by ANZ, Bank of China (Hong Kong), Credit Agricole and ICBC Asia on a $500m green loan made available to CGNPC International (a subsidiary of China General Nuclear Power Corporation), which is part of a growing trend of green and sustainability-linked loans in Asia.
  • Advised a leading Chinese property developer and its subsidiaries on a syndicated loan facility and a concurrent private placement of guaranteed senior secured notes, the proceeds of which were used for the acquisition of land in the PRC for development.
  • Advised China Mengniu Dairy Company Limited on its AU$1.5bn (approximately $1 bn) acquisition of Bellamy’s Australia Limited by way of a recommended scheme of arrangement.

Baker McKenzie

Baker McKenzie’s strength in Greater China is evidenced by its broad expertise, which includes leveraged financings, structured offshore and onshore loans, real estate financings, project financings, aircraft financings, securitisations and restructurings. Its extensive international network makes the firms well-placed to handle cross-border transactions. The team leverages mandates from lenders, credit funds, asset management companies, private equity funds and corporates. Head of practice Andrew Lockhart acts for major banks and financial institutions on asset and structured finance matters. Kenneth Ching joined as partner from Shearman & Sterling. Former team head Barry Cheng retired.

Practice head(s):

Andrew Lockhart

Other key lawyers:

Allen Ng; Sally Hung; Simon Leung

Testimonials

‘Always delivers outstanding legal services with practical and valued-added solutions that suit clients’ needs’.

‘Their lawyers have great experience and in-depth knowledge of the markets’.

‘The team is very experienced in handling various kind of transactions’.

‘Sally Hung is a seasoned partner with a devoted attitude and prompt problem solving skills’.

‘The team is very responsive and professional’.

‘Responsive, efficient and understand the clients’ needs’.

‘Sally Hung is always willing to take extra steps to help out’.

‘They can always provide remarkable and acceptable solutions on issues encountered as well as structural advice on deal structures and legal arrangements’.

Key clients

Bank of China (Hong Kong) Limited

The Hongkong and Shanghai Banking Corporation Limited

Standard Chartered Bank (Hong Kong) Limited

DBS Bank Ltd.

Industrial and Commercial Bank of China (Asia) Limited

China CITIC Bank International Limited

United Overseas Bank Limited

Natixis

ING

First Abu Dhabi Bank P.J.S.C.

Work highlights

  • Advised Industrial and Commercial Bank of China (Asia) Limited as agent in connection with a Hong Kong dollar term loan facility granted to Capital Court Limited, holder of the right to manage Ocean Park Marriott Hotel. The obligations of the borrower are guaranteed by its listed company parent, Lai Sun Development Company Limited.
  • Advised Standard Chartered Bank (Hong Kong) Limited in a “two in one” deal whereby it (as Mandated Lead Arranger and Bookrunner) first provided a $152m syndicated secured term loan facility to the Hong Kong borrower and a $100m term loan facility on similar terms was provided for the US borrower in the same group.
  • Advised Natixis and ING on a structured financing secured by shares relisted on NASDAQ and kept in a securities account located in London. This deal is bespoke as each lender would like to hold its own security interest directly (rather than through a security agent), but enforce such security where required in a coordinated matter.

Gibson Dunn

Under the leadership of the vastly experienced Michael Nicklin, Gibson Dunn’s well-regarded sponsor-side practice continues to go from strength to strength. With deep experience in leveraged and acquisition finance, as well as traditional banking and finance matters, the firm handles mandates across Asia. Nicklin is experienced in cross-border acquisitions, recapitalisations and workouts; and with his history of working in the US, UK and Hong Kong, is well-positioned to handle deals with an international aspect. Associate Justin Greer is another name to note.

Practice head(s):

Michael Nicklin

Other key lawyers:

Justin Greer

Testimonials

‘Michael Nicklin is one of the best’.

‘Justin Greer is an excellent associate’.

‘Michael Nicklin has a great grasp of market positions and always drives for the best possible terms for his borrower clients who are often financial sponsors’.

Key clients

Bain Capital

Goldman Sachs

First Pacific Company Limited

I-Squared Capital

NetEase Inc.

Trans Maldivian Airways Private Limited

Camp Australia

Icon Group

IPI Partners, LLC

Only About Children

Work highlights

  • Advised Icon Group and its sponsors, Goldman Sachs PIA, QIC and Pagoda Investments, on the global cancer care company’s A$735m and HK$401m first-lien / second-lien Term Loan B financing.
  • Advised IPI Partners, LLC in connection with the $2.1bn financing for its bid to acquire AirTrunk.
  • Advised I Squared Capital in connection with its A$160m  acquisition from Telstra of three data centres in Hong Kong, Singapore and London.

Hogan Lovells

Hogan Lovells provides a full-service banking offering that includes structured and cross-border finance, real estate finance, leveraged and acquisition finance, alternative lending and fund financing, pre-IPO finance and asset finance. The practice is focused on both sponsor-led and corporate acquisition finance. The team is headed by Owen Chan, who counts international financial institutions, PE funds, and multinational companies amongst his clientele. Jonathan Leitch joined as partner from DLA Piper.

Practice head(s):

Owen Chan

Other key lawyers:

Louise Leung; Jenny Yim; Jonathan Leitch

King & Wood Mallesons

King & Wood Mallesons cross-jurisdictional team offers advice on PRC, Hong Kong, New York and English law and the laws of other international jurisdictions, including Australia. It acts for lenders, borrowers and sponsors on syndicated and bilateral lending, acquisition financing, leveraged finance, project finance, real estate finance and pre-IPO finance. Other areas of focus include structured finance, asset finance and leasing. Team head Richard Mazzochi oversees the relationship between the Hong Kong and Mainland banking practices, and is recommended for debt issuances. David Lam left for Allen & Overy LLP in Sydney.

Practice head(s):

Richard Mazzochi

Other key lawyers:

Ashley Wong; Katherine Ke; Jessica Zhou

Key clients

Bank of China Limited, Macau Branch

Industrial and Commercial Bank of China (Macau) Limited

ICBC International Finance Limited

Standard Chartered Bank (China) Limited

Work highlights

  • Acting for Castle Peak Power Company Limited (CAPCO) as the controlling shareholder of a joint-venture borrower in relation to HK$4.3 billion syndicated, revolving and term loan facilities loan facilities for the construction and procurement of a regasified liquefied natural gas subsea transportation pipeline to and a regasified liquefied natural gas receiving station at CAPCO’s Blackpoint power station in Hong Kong.
  • Acted for Industrial and Commercial Bank of China (Macau) Limited as the arranger on an up to$715m term loan facility for Dalian Wanda Group Co. Ltd.
  • Acting for Wells Fargo Bank, National Association on the Hong Kong law aspects of US law-governed syndicated loan facilities and associated intercreditor arrangements for Jakks Pacific, Inc., a multi-brand company that designs, develops and markets toys and consumer products all over the world.

Slaughter and May

Slaughter and May advises Hong Kong and international corporates and banks on loans and other financing work. Infrastructure financing and oil and gas financing are both key areas of focus for the practice. It also handles bilateral and syndicated loan transactions, and frequently advises on cross-border deals. Peter Lake and Lisa Chung head the team.

Practice head(s):

Peter Lake; Lisa Chung

Testimonials

‘They have great depth of relevant expertise and extensive first-hand experience which perfectly suits all our need for an external counsel’.

‘They understand the commercial concerns and always think of solutions from our perspective while maintaining excellent professionalism’.

‘Peter Lake was always responsive and resourceful, despite his busy schedule, there has never been any delay if we need him to be there’.

Key clients

China Resources

State Power Investment Corporation

Tencent

United Energy Group

Bank of China

China International Capital Corporation

Work highlights

  • Advising Tencent Holdings Limited as guarantor and its subsidiary Inari S.à r.l. as borrower on a $2.2bn syndicated facility granted by a syndicate of 11 lenders with Bank of China (Hong Kong) acting as agent.
  • Advising United Energy Group on a $200m secured syndicated financing for its Pakistan operations.
  • Advising Bank of China (Hong Kong) Limited as agent (for a syndicate of 12 lenders) on a HKD$8.6bn syndicated loan facility granted to China Resources Land Limited as borrower.

Ashurst

Ashurst acts for leading international and regional financial institutions, alternative credit providers, multinational corporate borrowers, issuers and government agencies on a range of banking and finance deals. Areas of expertise include multi-jurisdictional project financing, real estate financing, margin loans, structured lending, fund financing and acquisition financing. The team is headed by Sydney-based Jamie Ng and Beijing-based Patrick Phua. The key names to note in Hong Kong are Eric Tan and Daniel Lau.

Other key lawyers:

Eric Tan; Daniel Lau

Testimonials

‘Partners drawn from other market leading practices, with significant experience across a variety of debt financing structures’.

‘Eric Tan has significant experience across a variety of financing structures and is one of the few senior lawyers in this space who is fully bilingual’.

‘Eric Tan is very proactive and hands on in approach, very pragmatic and commercially minded’.

‘Helpful and good knowledge about financing transactions’.

‘Eric Tan is one of those rare people who can get down in the weeds and work on the details, but still see the big picture’.

‘Flexible billing which delivers value for money in respect of services provided’.

‘They have the ability to execute and turn around documents within tight timeline’.

‘Eric Tan has been helpful and provides practical advice for challenges’.

Key clients

CMB International Finance Limited

CSI Finance Limited

Shenwan Hongyuan Capital (H.K.) Limited

Tai Fung Bank Limited

CM Wealth Holdings Limited

BOCOM International Asset Management Limited

CM SPC

CMBC Capital Finance Limited

China Everbright Finance Limited

Jiangsu Shagang Group Company Limited

Orange Sky Golden Harvest Entertainment Company Limited

Zao “Baltic Pearl”

China Construction Bank (Asia) Corporation Limited

ANZ

Haitong International Securities Company Limited

Fortune Ocean Asset Management Limited

Work highlights

  • Advised Jiangsu Shagang Group on its up to £800m financing for the acquisition of Global Switch Holdings.
  • Advised China Construction Bank on its up to $400m financing to An Ke Technology, a subsidiary of Ping An Insurance.
  • Advised a consortium of securities firms on their $300m financing of Suning Appliance Group.

Deacons

Independent local firm Deacons is noted for its experience in financing transactions, banking regulations, anti-money laundering, cryptocurrencies, online lending platforms, Fintech, and insolvency and restructuring matters. Philip Gilligan now heads the finance and insolvency department after Simon Deane stepped down into a consultancy role. Gilligan acts for lenders and borrowers on syndicated and single bank facilities across Asia. Lam Wing Wo retired.

Practice head(s):

Philip Gilligan

Other key lawyers:

Simon Deane; Teresa Lau; Farrah Lam

Eversheds Sutherland

Eversheds Sutherland handles domestic and international bilateral and syndicated lending trade finance, credit facilities, project finance, structured finance, acquisition finance, and bank regulatory issues and enforcement advice. Its client base includes sponsors, lenders, governments and investors. Head of practice Michael Yau counts international, local and PRC banks amongst his clients, and advises on financing and banking compliance matters.

Practice head(s):

Michael Yau

Other key lawyers:

Samuel Chau; Alex Doughty; Jae Lemin

Testimonials

‘They are always very practical and give very holistic and sensible advice’.

‘Michael Yau is the partner we are working with, he is very responsive, flexible and always proactive’.

‘Well-rounded and experienced team providing value for money legal services’.

‘Samuel Chau will always go the extra mile in providing economical solutions for our Bank’s needs’.

‘Alex Doughty’s depth of experience across financial instruments gives him a unique ability to draft complex funding and derivative products’.

‘Jae Lemin is a consummate professional and a strong technical lawyer who is well known in the market’.

‘Goes beyond the strict scope of engagement and keeps a comprehensive view of the client’s interest’.

‘Responsive, thoughtful and very friendly’.

Key clients

China Cinda (HK) Asset Management Co., Ltd.

China CITIC Bank International Limited

China Vanke Co., Ltd.

Standard Chartered Bank

GuarantCo

SilkRoad Partners

Chong Hing Bank

Baird Capital

CGN New Energy

Citibank, N.A.

Work highlights

  • Advising GuarantCo and Standard Chartered on a loan financing deal.

Herbert Smith Freehills

Well-known for its strong connections with Chinese banks and Greater China cross-border deals, Herbert Smith Freehills also counts global financial institutions, major Chinese and international corporations, funds and government agencies amongst its clientele. With an exclusive focus on cross-border mandates, the firm is well-positioned to handle export credit and trade finance transactions. Its broad practice also offers expertise in commercial bank lending, debt capital markets, project finance, asset-based finance, and insolvency and restructuring issues. Practice head Alexander Aitken is particularly experienced in Indian finance matters and leverages expertise in the secured financings of companies, infrastructure, real estate and projects across Asia and further afield.

Practice head(s):

Alexander Aitken

Other key lawyers:

Ellen Mao

Key clients

Standard Chartered Bank

JP Morgan

BNP Paribas

ANZ

Citibank

China Huarong International

China Construction Bank International

Industrial Bank

China Development Bank

ICICI

Agricultural Bank of China

ICBC

Credit Agricole

China Minsheng Banking Corporation

Bank of China

China International Capital Corporation

Work highlights

  • Advised China Huarong International Holdings Limited and China Huarong Overseas Investment Holdings Co. Limited on approximately $459m restructuring of debts owed by Brightoil Petroleum (Holdings) Limited  and its subsidiaries.
  • Advised a greater bay area investment company on the subscription of HK$877.5m four percent guaranteed secured redeemable notes and warrants conferring the right to acquire up to a maximum amount of 284,000,000 convertible preference shares of a company listed on the Hong Kong Stock Exchange, each issued by a special purpose vehicle.

Paul Hastings LLP

Paul Hastings LLP handles commercial lending for both lenders and borrowers, and provides expertise in acquisition financing, bond financing, convertible debt facilities, loan workout transactions, senior mezzanine and subordinated debt credit facilities, and real estate acquisitions. Practice head James Ma is recommended for corporate finance, reorganisations and cross-border transactions across Asia. Vivian Lam, who jointly heads the team, handles cross-border acquisitions and investments, and debt issues. Former practice head Brett King left for an in-house role at Nexwell.

Practice head(s):

James Ma; Vivian Lam

Other key lawyers:

David Blumenfeld

Key clients

China Orient Summit Capital

Kohlberg Kravis Roberts & Co.

Sino-Ocean Land Holdings Limited

Bank of Taiwan

Taipei Fubon Commercial Bank

CTBC Bank

ICBC International Capital Limited

Maybank Investment Bank

WH Group

Standard Chartered Bank

China Everbright Limited

The Carlyle Group

Warburg Pincus

JPMorgan Chase Bank NA

COSCO

Ping An

Shanghai Electric

China Development Bank

Bank of China

China Cinda

Redsun Properties Group Limited

Work highlights

  • Advised Yuzhou Properties on a $220m incremental term loan facility to finance its general working capital requirements.
  • Advised Redsun Properties, one of the leading property developers in China, on its $70m term loan facility from a group of leading financial institutions. This is Redsun Properties’ first commercial bank loan in the offshore market.

Reed Smith Richards Butler

Reed Smith Richards Butler handles banking and finance transactions throughout Asia, the US, Europe and the Middle East. Areas of focus for the practice include corporate and institutional lending, mezzanine and subordinated debt structures, secured and unsecured syndicated and bilateral lending and debt transactions, and acquisition and leveraged financing. The team is headed by Chris Tang  and Peter Lee.

Practice head(s):

Chris Tang; Peter Lee

Testimonials

‘The team is very responsive and knowledgeable’.

‘Eager to provide solutions and suggestions with a pragmatic and realistic approach’.

‘They understand well the commercial sector and can cope with fast-moving deals with complicated structures’.

‘The team is very helpful and knowledgeable in the syndicated loan business and was able to assist my team to close the deal without problems’.

Ropes & Gray LLP

Ropes & Gray LLP acts for market-leading private equity sponsors on financings across Asia-pacific. It also counts major Chinese corporates and financial institutions amongst its client base. Leaning on its global network for support, the firm is well-positioned to handle large international banking and finance mandates, with a focus on leveraged and acquisition finance. Head of team Jackie Kahng handles cross-border leveraged finance transactions, including acquisition finance and real estate finance. Daniel Anderson, who jointly heads the team, is noted for his experience in restructuring and insolvency matters.

Practice head(s):

Jackie Kahng; Daniel Anderson

Other key lawyers:

Lucy Wu

Key clients

Bain Capital Credit

IGIS Asset Management

Work highlights

  • Advised Bain Capital Credit in connection with the financing related to its $320m investment in CJ Foods America Corp, a subsidiary of CJ CheilJedang, in connection with its acquisition of Schwan’s Co., a major manufacturer of frozen food in the US.
  • Advised IGIS Asset Management on the financing of the acquisition by a KKR-led consortium of Namsan Square, located in the central business district of Seoul, South Korea.
  • Advised KKR in connection with the refinancing of syndicated loans made to LSA Holdings and LS Automotive Technologies, a producer and seller of automobile parts; and KCF Technologies, a global-leading producer of copper foils. Also advised KKR in connection with a dividend recapitalisation of KCF Technologies Co. prior to its sale of the company to SKC Co.

Skadden, Arps, Slate, Meagher & Flom LLP

The banking team at Skadden, Arps, Slate, Meagher & Flom LLP works closely with its corporate department to provide ancillary advice on acquisition deals and financing. It has a strong borrower focus and assists with margin loans and other loan facilities such as syndicated loans, term and revolving loans, and transferable term loans. Of counsel John Hartley heads the team in Hong Kong.

Practice head(s):

John Hartley

Other key lawyers:

Jonathan Stone

Testimonials

‘Deep experience in banking and finance, most up-to-date market insights, superb work ethics, and Industry prestige’.

‘John Hartley plans and strategises ahead for clients so that we are in the best position to negotiate and execute a deal’.

Key clients

Trip.com Group Limited

Lufax Holding Ltd.

PT Medco Energi Internasional Tbk

Work highlights

  • Advised Trip.com (then known as Ctrip.com International, Nasdaq listed) on a facility agreement for an up to $ 2bn equivalent transferrable term loan facility with a greenshoe option of up to $500m.
  • Advised Trip.com Group Limited on its transferable term and revolving loan facility of up to $1bn with an incremental facility of up to $500m.
  • Advised Lufax Holding Ltd. (Cayman Islands) on a $1.2bn three-year syndicated facility (with an accordion of up to $310m) borrowed by a Hong Kong subsidiary of Lufax and guaranteed by Lufax.

Stephenson Harwood

Stephenson Harwood is well-regarded for supply chain finance arrangements and the development of standard factoring and security documents. It is also experienced in asset finance, structured finance, fintech, investment products and secured and unsecured lending. Head of practice Mark Reed handles general banking, finance, insolvency and regulatory advice. King-Tak Fung specialises in international trade law. Stephanie Wong left for Eversheds Sutherland.

Practice head(s):

Mark Reed

Other key lawyers:

Katherine Liu; King Tak Fung; Elton Chan

Testimonials

‘They always offer ideas to solve problems’ 

‘The team is highly practical and diligent, and offers clients with cost-efficient solutions’.

‘Elton Chan is technically strong and commercial, and extremely responsive, which ensures a smooth process’.

Key clients

Bank of China (Hong Kong) Limited

China Construction Bank Corporation, Hong Kong Branch

China Construction Bank (Asia) Corporation Limited

FundPark Limited

Metro Holdings Limited

TNG (Asia) Limited

Work highlights

  • Acting for China Merchants Bank on PRC on-shore guarantee and on-shore loans.
  • Advised a number of financial institutions, including virtual banks, on receivable finance/factoring and supply chain provided by banks and fintech companies.
  • Acting for four different banks on four separate term loans totalling HKD$2400m (£245m) to a client in the utilities industry.