Firms To Watch: Banking and finance

Led by Philip Wong, the banking and finance practice at Gallant advises on bilateral and syndicated lending, and related security packages, with demonstrable experience in cross-border transactions.
Wilkinson & Grist handles contentious and non-contentious banking matters, frequently assisting local, international, and PRC banks.
The ‘knowledgeable and practical‘ banking and finance practice at Howse Williams is led by Antony Yung, who focuses on matters concerning acquisition financing and green financing.

Banking and finance in Hong Kong

Allen & Overy

Lauded by some as the ‘top firm in banking and finance’, Allen & Overy fields one of the broadest financial services practices in the market across all sub-product types. Through its combination of extensive office network, the team enjoys close relationships with major Chinese banks, and its American offices also mark it as a popular choice to advise multinational financial institutions. The sizeable practice is headed up by Roger Lui, who shines in complex financings in Hong Kong, the PRC, and elsewhere in the APAC region. Vicki Liu, a co-head of the firm’s global banking practice, has experience in a broad range of banking and finance transactions. The group also includes Cindy Lo, whose practice has a particular focus on acquisition and structured financing with a PRC element and Patrick Wong, a fund financings expert who frequently advises a broad mix of international banks. Other key figures in the team include newly promoted to partner Daniel Tan and associate Welber Yim, both of whom focus on cross-border financing transactions.

Practice head(s):

Roger Lui


Other key lawyers:

Vicki Liu; Cindy Lo; Patrick Wong; Daniel Tan; Welber Yim


Testimonials

‘The collaboration across different practice areas and jurisdictions makes it seamless for their clients. The approach by A&O by their legal advice is very innovative and client friendly.’

‘Vicki Liu is hands-on and provides practical and innovative advice to her clients. Perfect engagement with her clients and counterparties.’

‘Top firm in banking and finance.’

Key clients

Ant Group


CMB Wing Lung Bank Limited


Sumitomo Mitsui Banking Corporation


Standard Chartered Bank


HSBC


China Construction Bank


Gaw Capital


China CITIC Bank


Clifford Chance

Clifford Chance’s ‘deep knowledge on the banking and finance law’ makes it a premier choice for all manner of investment banks, private equity sponsors, credit funds, and corporates, who turn to the team for its capabilities in high-profile matters, including complex majority stake acquisitions and loan facilities agreements. Practice chair and 'clients' guiding light', Anthony Wang is widely regarded as a market leader for his capabilities in leveraged and acquisition finance. Dauwood Malik is noted for his extensive experience in debt finance; in a notable pathfinder mandate, he led the first-of-its-kind standard loan documentation advice to the Asia Pacific Loan Market Association (APLMA). Other senior names include Matthew Truman, general banking and restructuring expert; Maggie Lo, who routinely acts for Chinese state-owned enterprises and financial institutions; and Vicky Ma, project finance expert. The group also leans on Beijing and Shanghai-based Jiahua Ni, and Edith Leung, whose practice is dedicated to leveraged and acquisition finance.

Practice head(s):

Anthony Wang


Other key lawyers:

Dauwood Malik; Matthew Truman; Maggie Lo; Vicky Ma; Jiahua Ni; Edith Leung; Charlotte Leung; Michael Pallaras


Testimonials

‘Partners and other lawyers are of very high quality, professional and approachable.’

‘Anthony Wang is clients’ guiding light. He can always provide brilliant advice and clear direction on what needs to be done in order to protect the client’s best interest in a transaction.’

‘Vicky Ma impresses with her strong legal knowledge and commercial acumen in all sorts of deals, from corporate loans to complicated acquisition and project finance; she is also very approachable and responsive and is particularly good at handling difficult dynamics.’

‘A very professional and efficient team which is highly responsive to clients’ needs and deliver their services within tight deadlines.’

‘Charlotte Leung is extremely attentive and responsive to clients’ needs and could devise practical solutions to address issues with respect to legal matters whilst balancing the commercial aspects as desired by clients.’

‘Anthony Wang is incredibly responsive and proactive, a very safe pair of hands and a pleasure to work with on transactions.’

‘Dauwood Malik is a quality operator who is right across all the latest legal and market developments, but always in a practical and real-world sense; tackles change with a great feel for materiality and providing solutions.’

‘There is a high degree of mutual trust between the law firm and corporations.’

Key clients

Bank of China


China Development Bank


Citi


Deutsche Bank


HSBC


IFC


JPMorgan


Standard Chartered Bank


UBS


Hillhouse Capital


Trustar Capital (formerly CITIC Capital Partners)


The Carlyle Group


TPG


MBK


PAG


Advantage Partners


Navis Capital


CVC


Work highlights


  • Advised the global private equity and investment advisory firm CVC Capital Partners (CVC) and Starlight Asset Sdn. Bhd. (the bidCo SPV controlled by CVC) on the financing of the acquisition from Affin Banking Group of a controlling interest in Affin Hwang Asset Management Berhad.
  • Advised JPMorgan in relation to a HK$1.9 billion non-revolving loan facility to finance the privatization of Lifestyle International Holdings Limited by way of scheme of arrangement.
  • Clifford Chance advised Yisheng Biopharma Co., Ltd. on its $40 million royalty-backed financing from R-Bridge Healthcare Fund, a subsidiary fund of healthcare-focused CBC Group.

Linklaters

Linklaters is one of the first port calls for international banks, credit enhancers, and corporates in relation to a wide range of industrial and financial sectors. The team’s expertise covers a wide range of financings, including structured lending, acquisition finance, and leveraged facilities. Practice chair Frank Cui is a go-to adviser for the largest Taiwanese, Chinese and international banks operating in the region, while Alessandro Nolet’s primary focus is on creditor side work in the leveraged finance and asset-based finance spaces. The team is also well-versed in advising on ESG-linked loans; Maggie NG, who was appointed partner in 2018, is a key contact here. Other key members of the group include Bernard Chain, who is distinctly knowledgeable of the Chinese real estate industry, in addition to Xiahui Ji, who leverages his energy and infrastructure expertise while working closely with leading policy and commercial banks.

Practice head(s):

Frank Cui


Other key lawyers:

Alessandro Nolet; Maggie Ng; Bernard Chain; Xiaohui Ji


Testimonials

‘This team is responsive, attentive to clients’ needs and sophisticated. They have the right bandwidth to execute complex cross-border leveraged financing transactions. They have demonstrated strong ability to coordinate with local counsel in relevant jurisdictions.’

‘Frank Cui is very commercial and practical. He has a deep understanding of legal documentation and the complex commercial issues embodied in the documents. He has the ability to distil complex points into concise and plain explanations and offer constructive and helpful solutions.’

‘Linklaters continues to be the pre-eminent law firm in Hong Kong for banking and finance matters. They have a wealth of experience in transactions ranging from leverage finance to structured lending. The lawyers are a good mix of international and Mandarin-speaking lawyers who are very experienced in the market.’

Key clients

JD Property Group Corporation


Work highlights


  • Advised the arrangers on the acquisition financing in connection with the acquisition of a minority stake by Carlyle in, and a buyout by the founders of, the Sushi Express business.
  • Acted for Ares Management Limited and its affiliates, as arranger and senior lender in a US$287 million unitranche and revolving facility to fund a minority investment by Searchlight Capital in Synergy Group.
  • Advised Industrial Bank Co., Ltd., Shanghai Branch in its capacity as mandated lead arranger in respect of the financing for the acquisition by Advent International of 60% stake in Wagas Group, a healthy food restaurant chain in China.

White & Case

The ‘very technical and also commercially-minded’ banking and finance team at White & Case stands out for its prowess in cross-border transactions across Greater China and the wider APAC region, boasting the ability to provide advice on US, English, Hong Kong, Singapore, and Japanese law. The team excels as a strong performer in both lender and sponsor-side matters, making it a prime choice for assistance in cross-border structures encompassing leveraged finance, private credit, and pre-IPO finance. Leading the practice is Eugene Man, an expert in structured private debit and credit financing matters who also shines in leveraged financing. Other noteworthy team members include Baldwin Cheng, renowned for his robust affiliations with alternative capital providers and private equity funds throughout Asia, focusing on leveraged and acquisition financings, alongside trade and sponsor loans; Daniel Abercromby, a seasoned lawyer applauded for the breadth of his high-profile financing experience; and Clara Shirota, who splits her time between Hong Kong and Tokyo, and frequently advises private equity funds and other strategic investors.

Practice head(s):

Eugene Man; Baldwin Cheng


Other key lawyers:

Daniel Abercromby; Clara Shirota; Manley Leung; Sabrina Lee


Testimonials

‘The team is very much focused on making sure deals get done. They are super-helpful in every way, always willing to go above and beyond, and responsive. They provide a consistent quality of legal advice and deliverables, very technical and also commercially-minded.’

‘Manley Leung is very responsive and always available.’

‘Baldwin Cheng has great commercial sense and is approachable.’

Key clients

Advent International


Asian Development Bank


Barclays Bank


BDO Unibank


BNP Paribas


Brookfield Asset Management


Citigroup


CMOC Group Limited


Deutsche Bank


Dignari Capital Partners (HK) Limited


DigitalBridge Group


ICBC International Finance Limited


International Finance Corporation


Oaktree Capital Management


RRJ Capital


TA Associates


Work highlights


  • Advised Citigroup Global Markets Asia Limited and Credit Suisse AG as original mandated lead arrangers and bookrunners on the US$1.2bn facilities to Weibo Corporation.
  • Advised Citi as sole coordinator and documentation bank (together with other investment banks leading the lender syndicate management and bookrunning processes) in connection with the maturity extension, introduction of sustainability-linked pricing terms, pricing adjustments and other amendments to the US$6.5bn dual-tranche RCF financing for Alipay (Hong Kong) Holding Limited.
  • Advised Brookfield Asset Management in respect of the approx. US$327m financing for its acquisition of the Trimco Group.

Baker McKenzie

Advising a balanced mix of lenders and borrowers, the banking and finance team at Baker McKenzie is noted for its aptitude in assisting an impressive roster of financial institutions, investment funds, and banks across a range of finance products. Acquisition finance (especially leveraged transactions) is at the core of the practice, which is also seasoned in structured finance, mezzanine financing, project and export credit loans, trade finance and general banking matters. Andrew Lockhart, who is the managing partner of the Hong Kong office, acts for airlines, aircraft manufacturers, financial institutions, and equity participants. Simon Leung is another contact for traditional banks and non-bank lenders, especially in matters involving infrastructure financings, and one of his highlights include acting for Deutsche Bank on USD 415m financing relating to development of a highway project in Jamaica. PRC-related financings are a notable area of practice for Sally Hung, who frequently advises on lending related to large-scale onshore and offshore real estate projects.

Practice head(s):

Andrew Lockhart


Other key lawyers:

Simon Leung; Sally Hung; Kenneth Ching; Gerry Wong


Testimonials

‘Kenneth Ching always provides good legal services with professional and practical advice. It is a pleasure to work with him.’

‘Simon Leung is our go-to counsel for financing work. He is experienced, pragmatic and has acted for both borrowers in various industries and banks from all jurisdictions. Definitely a pair of capable and safe hands, and value for money.’

‘Efficient and experienced in dealing with cross-border financings. Also, their professional and tailor-made advice on simplifying or incorporating flexibility in the documentation process.’

Key clients

Bank of China (Hong Kong) Limited


Bank of Communications


China CITIC Bank International Limited


Chong Hing Bank Limited


Credit Agricole Corporate and Investment Bank


Deutsche Bank


DBS Bank Ltd.


EQT


The Hongkong and Shanghai Banking Corporation Limited


Hysan Development Company Limited


Industrial and Commercial Bank of China (Asia) Limited


Ontario Teachers Pension Plan


Standard Chartered Bank (Hong Kong) Limited


United Overseas Bank Limited


Work highlights


  • Advised on HKD 2,096,000,000 syndicated loan facility of up to a joint venture company formed between HKR International Limited and CITIC Pacific Limited, both of which are listed in Hong Kong.
  • Acted for Deutsche Bank as documentation agent in the aforesaid facility for refinancing the development loan in connection with the North-South Expressway located in Jamaica.
  • Represented Mizuho Bank Ltd. as documentation agent in this financing to refinance existing syndicated and bilateral loan facilities of the borrower, which is listed in Hong Kong.

DLA Piper

DLA Piper’s focus on strengthening its lender-side practice has paid a dividend over recent years, as evidenced by its recent marquee mandates for several of the world’s largest banks and asset managers. Most notably, Natixis Investment Managers and Fubon Bank (Hong Kong) turned to the team for support on HKD280m limited recourse financing of a portfolio of rooftop solar photovoltaic projects. Led by Matthias Schemuth, a veteran project finance lawyer, the group also includes energy sector specialist Russell Wilkinson, who is particularly experienced in LNG infrastructure projects, sales and shipping. Other key names include Russell Wilkinson, who acts for a wide range of banks and financial institutions across Asia, and double-qualified in Hong Kong and New York Paul Lee. Trusted lead counsel to a raft of China-based institutions, Carolyn Dong is able to effectively bridge the cultural gap between Chinese sponsors and international investors, and is a very popular choice on a range of high-profile acquisition financings and project developments. The team also has strong restructuring and structured finance expertise throughout Hong Kong and across the wider APAC region, an area of practice that was further strengthened by the arrival of Trinh Hoang in December 2022 from Linklaters. Crystal Chen left the firm in April 2023.

Practice head(s):

Matthias Schemuth


Other key lawyers:

Russell Wilkinson; Paul Lee; Ed Sheremeta; Carolyn Dong; Trinh Hoang; Tom Van Hoof; Naomi Hong


Testimonials

‘Experience is very important as well as their ability to be flexible in collaborating to help develop opportunities together. The ability to help crystallize ideas gives an edge in winning mandates for DLA.’

‘Matthias Schemuth stands out as he provides invaluable balanced views on issues. His articulation of the pros and cons of issues allows us to make quick informed decisions on what works for the bank. His expertise on the subject market is excellent and appreciated. He is a valuable asset to DLA.’

‘Matthias Schemuth is knowledgeable, approachable and responsive.’

‘Naomi Hong has exhibited great qualities and advice.’

‘Matthias Schemuth is highly experienced in trade finance, project finance and general banking.’

Key clients

BBVA


DBS Bank


DZ Bank


Rabobank


Deutsche Bank


Société Générale


ANZ


ICBC Asia


Hang Seng Bank


Standard Chartered Bank


Sumitomo Mitsui Trust Bank


HSBC


Natixis Investment Managers


Asian Development Bank


Bank of Communications


Bank of China


ICBC Standard Bank


UOB


Hutchison/CKH Holdings


Mashreq Bank


Work highlights


  • Advising Natixis Investment Managers International Hong Kong Limited, Sunlife Insurance and Fubon Bank as lenders in relation to the limited recourse financing of a large portfolio of up to 30 MW rooftop solar PV projects in Hong Kong undertaken by Widex Solar.
  • Advising DBS in respect of a highly structured financing to Foxconn through its Cloud Network Technology (CNT) subsidiary in respect of its inventory and warehousing arrangements in Hong Kong and China with Wintec Industries Inc, via a back to back inventory facility agreement and receivables purchase agreement.
  • Assisting China CITIC Bank International Limited and The Bank of East Asia Limited as Mandated Lead Arrangers, Bookrunners and Underwriters and Bank of Communications, Hong Kong Branch as Mandated Lead Arranger and Bookrunner as the mandated lead arrangers, underwriters and bookrunners with an up to USD500m multicurrency term and revolving facilities agreement for China Water Affairs.

Kirkland & Ellis

Benefitting from capabilities that are ‘second to none in terms of thought leadership and structuring innovation’, the banking and finance team at Kirkland & Ellis specialises not only in debt financing but also in broader interconnected investment and finance matters. The team frequently provides advice to private equity sponsors, credit funds, and corporate investors across a range of debt products. Co-led by Manas Chandrashekar, who is highly sought after by prominent sponsors and borrowers for complex international financing transactions with a focus on acquisition and leveraged financings, and Jacqueline Zheng, who recently represented some of the region’s largest private equity sponsors in high-profile LBO transactions, the practice excels. Other key figures include Karen Ho, who concentrates on advising global private equity sponsors in leveraged finance and structured financing transactions, and Gautam Agarwal, who played a recent role in Baring Private Equity Asia’s (BPEA) take-private of Gonko International, a transaction that stands as the largest Taiwan take-private deal in the consumer sector to date.

Practice head(s):

Manas Chandrashekar; Jacqueline Zheng


Other key lawyers:

Karen Ho; Gautam Agarwal


Testimonials

‘They are without doubt the market leaders offering best-in-class advice and seamless deal execution. Their client is always first, and they are second to none in terms of thought leadership and structuring innovation.’

‘Manas Chandrashekar is a luminary of the Asia financing market. His structuring knowledge is unparalleled, work ethic unrivalled and negotiating style persuasive.’

‘Expert knowledge, deep experience, commercial and solutions-focused.’

Key clients

DCP Capital Partners II, L.P., Ocean Link Partners Limited, and Mr. Rick Yan, the Chief Executive Officer of 51job


New Frontier Public Holding Ltd.


Blackstone Inc.


Baring Private Equity Asia


Carlyle


Bain Capital


Platinum Equity


CVC Capital Partners


Sequoia China Infrastructure Fund


Power Heritage Group Limited


EQuest Education Group (a KKR Portfolio Company)


KKR


Work highlights


  • Acted for DCP Capital, Ocean Link Partners and Mr. Rick Yan, the Chief Executive Officer of 51job, in the take-private of 51job, Inc. (NASDAQ: JOBS).
  • Advising Baring Private Equity Asia in its US$1bn take-private acquisition of Ginko International.
  • Advised The Blackstone Group on its acquisition of all of the issued share capital of Interplex Holdings Pte. Ltd., which was indirectly owned by funds managed by Baring Private Equity Asia, in a transaction valued at approximately US$1.6bn.

Latham & Watkins LLP

American firm Latham & Watkins LLP has operated in Hong Kong for over 25 years, developing a practice with US, English, and domestic law capabilities through its advisory work primary centered towards private equity clients, who turn to the firm for its capabilities in all the main aspects of banking and finance, including acquisition financing and leveraged lending. Practice chair Andrew Bishop is noted for his capabilities in multi-jurisdictional financing transactions on behalf of some of the world’s leading private equity firms and financial institutions, with recent engagements seeing him acting for Carlyle Asia Investment Advisors and Warburg Pincus on the financing of a number of significant transactions. Howard Lam's extensive knowledge makes him a key contact for clients seeking advice on China-related high-profile transactions. Other key names include Lynsey Edgar and Ruonan Duan, both elected to counsel in January 2022 and 2023 respectively.

Practice head(s):

Andrew Bishop


Other key lawyers:

Howard Lam; Lynsey Edgar; Ruonan Duan


Key clients

Warburg Pincus


Searchlight Capital Partners


Goldman Sachs Asset Management


Carlyle Asia Investment Advisors Limited


Global Infrastructure Partners


KKR


MBK Partners


Ontario Teachers’ Pension Plan Board


EQT / Baring


Mayer Brown

Praised as ‘professional and responsive‘, Mayer Brown‘s Hong Kong office has developed a market-leading reputation representing major Chinese companies on the full spectrum of banking and finance transactions. A significant proportion of the deal flows relates to syndicated lending mandates, including in the context of acquisition, asset finance, as well as within the real estate and energy sectors. The team focuses its attention particularly on the aviation industry, and practice head Richard Stock has led on many of the firm’s high-profile matters relating to assisting airlines, lessors and financial institutions to document aircraft and aviation-related transactions. Francis Chen is also a key contact for international banks and corporates in cross-border financing structures, and his recent highlights include advising HSBC on a variety of sustainable-linked loans facilities. Fanny Wang retired in April 2023.

Practice head(s):

Richard Stock


Other key lawyers:

Francis Chen; Doos Choi; Hallam Chow; Dion Yu; Boya Shen; Angie Chan; Ester Chow; Evelyn Lok;


Testimonials

‘Very professional and responsive. Can provide good legal opinion to client professionally and in timely manner. Good division of work and we can contact the relevant partner.’

‘The team must know the customer through the working knowledge which will cut down a lot of communication. As a result continuity in people and stability of the team is also important.’

‘Doos Choi works very well in protecting the interest of the client and know when to be flexible in agreeing points with counterpart. He is also firm in negotiation and will not easily give up.’

Work highlights


  • Advised the West Kowloon Cultural District Authority, as borrower, on its inaugural HK$4bn syndicated sustainability-linked loan facilities.
  • Advised HSBC as the Agent on the transaction involved HK$8bn sustainability-linked revolving credit and sustainability-linked loans facilities.
  • Advised Sumitomo Mitsui Banking Corporation, as agent and social loan advisor, on its USD/HKD dual-currency syndicated social and corporate loan facilities to China Gas Capital Management Limited (the “Borrower”), guaranteed by its parent company, China Gas Holdings Limited (the “Guarantor”).

Milbank

The addition of Davide Mencacci and John Bona has significantly boosted Milbank’s presence in the market, effectively capitalising on the firm’s extensive finance capabilities across the US and Europe to the benefit of a clientele with a focus on lenders. Mencacci, who leads the practice, holds strong and longstanding relationships on both the creditor and debtor side, frequently advising private equity firms, investment banks, lenders, and credit funds. Bona’s arrival, aligned with a focus on private equity, has propelled the firm’s leveraged and acquisition practice to a prominent position in the market. Both lawyers have recently been involved in valuable creditor-side work across Asia and Europe, securing roles on prominent LBO transactions in the Asian market and bringing their sophisticated expertise in European and NY financial products to Asian creditors. The team’s proficiency across a wide range of financial products, including bank/bond, bridge to bond, unitranche, and processes involving the US Term Loan B market, is another notable advantage, offering a level of adaptability highly sought after in the market.

Practice head(s):

Davide Mencacci


Other key lawyers:

John Bona; Daniele Sutto


Testimonials

‘Expert knowledge, deep experience, commercial and solutions-focused’.

‘The practice is led by Davide Mencacci, working with his long-time lieutenant John Bona, with a prior strong track record of working together at Linklaters. Davide and John have successfully expanded the scope of their practice to India and SEA over the past few years. They are both highly-experienced, very knowledgeable and thoughtful, as well as commercial in their approach to negotiations and strong focus on finding consensus to be able to get transactions over the line.’

Key clients

Permira


BPEA EQT (formerly Barings Private Equity Asia and EQT Asia)


CVC


Carlyle


Hillhouse


KKR and KKR Credit


PAG


Goldman Sachs (IBD and MBD)


HSBC


JP Morgan


Canada Pension Plan Investment Board (CPPIB)


Partners Group


Pierfront Capital


Digital Edge (a Stonepeak fund)


BNP Paribas


Deutsche Bank


DBS


Bank of China


China Construction Bank


Nomura


Work highlights


  • Advising the mandated lead arrangers in connection with the US$1.66bn US Term Loan B acquisition financing to BPEA EQT (formerly Barings Private Equity Asia) for the merger of Vistra Group and Tricor Group.
  • Acted for the lenders in the US$605m financing for the acquisition of HCP Packaging, a major PRC-based global cosmetics packaging company.
  • Advised a lender group of international financial institutions as the mandated lead arrangers in relation to the US$220m term loan and US$40m revolving facility financing of Platinum Equity’s acquisition of Hop Lun Limited, a Hong Kong-headquartered women’s fashion company.

Norton Rose Fulbright

Advising a mix of borrowers and lenders, the Hong-Kong banking and finance team at Norton Rose Fulbright’s team assists an impressive roster of clients, ranging from energy companies to real estate developers and corporates across a spectrum of finance products. Acquisition finance (especially leveraged transactions) is at the core of the practice, which is also seasoned in structured finance, distressed financing, and sustainable finance. The team, whose track record features lending deals in the real estate, manufacturing, infrastructure and TMT arenas, also has a particular sweet-spot on financings featuring ESG elements. Peter Haslam acts for many commercial lenders, including syndicates, international and regional banks, export credit agencies, in bank lending and other types of leverage finance. Victor Sim is another key contact for traditional banks and non-bank lenders, especially in cross-border financing matters where Hong Kong and China are involved.

Practice head(s):

Peter Haslam


Other key lawyers:

Victor Sim; Alvin Wong; Rex Chan


Key clients

Agricultural Bank of China (Hong Kong)


Asia Power Development


Bank of China (Hong Kong), Bank of China (Macau Branch), Bank of China (Singapore Branch)


Bank of Communications (Hong Kong)


China CITIC Bank International (CNCBI)


China Construction Bank (Asia), China Construction Bank (Macau Branch)


China Everbright Bank (Hong Kong Branch)


China Minsheng Bank (Hong Kong)


China Glass


CMB International


CMB Wing Lung Bank


DBS


Gaw Capital


HSBC


Hang Seng Bank


ICBC (Asia)


Industrial Bank


MUFG


OCBC


Shanghai Pudong Development Bank


SMBC


Standard Chartered Bank


Work highlights


  • Advised a syndicate comprised of 12 banks on a HK$12bn (US$1.6bn) term loan facility to China Overseas Land & Investment.
  • Advised a syndicate comprised of Bank of China (Hong Kong), Hang Seng Bank, HSBC, MUFG, Standard Chartered Bank on a sustainability-linked loan to Vantage Dragon Limited, a subsidiary of Lee & Man Paper Group, which represents the group’s first sustainability linked facility.
  • Advised 14 lenders arranged by HSBC on a term loan facility to Canvest Environmental Protection Group, which represents the second green loan of the group.

Ashurst

Ashurst is recognised for its strength in energy and natural resources, real estate, TMT, and construction-related financings, acting for both borrowers and lenders. It also shines in representing alternative lenders, including private equity clients, particularly where PRC law capabilities are required. In a recent highlight, Hong Kong and Beijing-based practice head Patrick Phua advised the syndicate of ten international and regional banks for Betterlife’s first launch in the syndicated loans market. Other key names to note include Daniel Lau, who has particular expertise in acting for Chinese companies seeking outbound investment; and Eric Tan, who is ‘technically strong, commercially sensitive and client oriented’, in addition to demonstrating ‘strong business acumen and good industry knowledge’.

Practice head(s):

Patrick Phua


Other key lawyers:

Chin Chuan Chen; Eric Tan; Daniel Lau; Carmen Yu


Testimonials

‘The banking team is innovative and solutions driven. We find them very accessible as well.’

‘Ashurst’s banking and finance business provides efficient and cost-effective legal services, covering various investment and financing transactions, including traditional syndicated loans, M&A financing, mezzanine financing, real estate financing and fund financing.’

‘Eric Tan and Daniel Lau lead the banking and finance offering in the Hong Kong office. Their prices are competitive, the response time is fast, and they can provide customised services depending on each client and transaction.’

Key clients

China Taiping Insurance Holdings Company Limited


Glory United Development Limited


Yunkang Group Limited


Shuifa International Holdings (BVI) Co. Ltd.


Haitong International Securities Group Limited


DBS Bank Ltd.


Deutsche Bank AG


Natixis S.A.


BNP Paribas SA


Banco Santander SA


Australian and New Zealand Banking Group


Standard Chartered Bank


The HongKong and Shanghai Banking Corporation


Mizuho Bank


Société Générale


UBS AG


JPMorgan Chase Bank, N.A.


China Merchants Bank


Agricultural Bank of China Limited


Bank of China


Bank of Communications Co., Ltd


ICBC International Holdings Limited


Pacific Aegis Capital Management Limited


Work highlights


  • Advised the syndicate of 21 international banks for Brunp and Catl Group’s first offshore loan syndication.
  • Advised the mandated lead arrangers in an A$880m dual tranche facility for The Export-Import Bank of Korea. The loan proceeds are to be applied for various projects and the working capital requirements of the borrower.
  • Advised HSBC as a MLAB, original lender, facility agent and security agent for a dual currency syndication loan granted to Digital China (China) Limited.

Dechert

Dechert's 'commercial and solutions-focused' team acts for lenders, borrowers, private equity sponsors, and corporates, offering expertise across an extensive spectrum of debt finance products, encompassing leveraged and structured finance products. Leading the team is Daniel Margulies, who frequently advises Asian and credit funds on a diverse array of private credit transactions spanning China, Hong Kong, and other Asian markets. Counsel Yang Zhao provides valuable support to Margulies across a variety of financing structures.

Practice head(s):

Daniel Margulies


Other key lawyers:

Yang Zhao


Testimonials

‘Strong execution and extensive client knowledge given prior experiences.’

‘Expert knowledge, deep experience, commercial and solutions-focused.’

Key clients

Alvotech SA


Arkkan Capital


Bain Capital Credit


Barings LLC


Broad Peak Investment Advisors


Morgan Stanley


Nomura


Pacific Century Premium Developments Limited


Pure International (HK) Limited


Tor Investment Management Limited


Work highlights


  • Advised Alvotech SA in connection with its negotiations with its first lien private credit investors and equity holders in connection with its first-of-a-kind dual New York and Iceland initial public offering.
  • Advising a consortium of private credit investors on its US$300m loan to Nixon Investments Pte Ltd., a subsidiary of PT Astrindo Nusantara Infrastruktur Tbk., an energy infrastructure company listed in Indonesia.
  • Advised Broad Peak Investment Advisors on a new money US Dollar super senior facility to Jain International Trading B.V., a subsidiary of Indian listed multinational micro-irrigation, food processing and plastic products conglomerate Jain Irrigation Systems Limited in connection with Jain’s balance sheet restructuring pursuant to a scheme of arrangement in the English courts.

Eversheds Sutherland

Eversheds Sutherland, noted for its pre-eminent trade finance practice, is instructed by many local and international banks, corporates, private equity houses, and funds on mandates involving corporate, funds, and sponsor-backed financings. Michael Yau leads the practice and has experience working on a diverse range of PRC-related finance matters, while Samuel Chau specialises in debt finance work including syndicated lending, real estate finance, as well as acquisition and leveraged finance. Alex Doughty is another name to note and takes the lead on high-profile infrastructure and project financings.

Practice head(s):

Michael Yau


Other key lawyers:

Samuel Chau; Alex Doughty


Testimonials

‘Responsible and efficient.’

‘Michael Yau has been very helpful and responsible.’

‘Samuel Chau and his team in Hong Kong is a leading banking and finance practice in Hong Kong. The team excels in advising complex financing structures in the most efficient way. It is always able to provide effective management of the transactions and all parties involved, particularly in large syndicated facilities with various parties involved.’

‘Samuel Chau’s team excels in providing excellent legal advice and runs transactions efficiently. They can always impress clients and parties involved with their legal expertise and knowledge.’

‘The team is particularly strong on areas of trade finance, factoring and receivables purchase. Deliver prompt and practical advice with reasonable legal fees.’

‘Michael Yau is strong and very experienced on banking and trade finance matters. He is responsive and efficient.’

‘The team is very experienced in trade finance and cross-border corporate lending transactions and consistently offers accessible professional legal advice.’

‘Samuel Chau has a lot of experience acting for both lenders and borrowers, technically strong and can be depended on to provide practical and commercial advice.’

Gibson Dunn

Working together with other banking teams based in offices across Asia Pacific, the US and Europe, Gibson Dunn is well-placed to advise on a range of debt finance transactions, including restructurings, syndicated loans and fund financings. Noted for its pre-eminent sponsor-side practice, the team focuses on one of the most complex financings in Hong Kong; indeed, its recent highlights include advising a leading private equity fund in connection with its fund-level financing with Silicon Valley Bank. Michael Nicklin leads the team and has demonstrable experience in debt financing transactions, particularly cross-border leveraged finance matters.

Practice head(s):

Michael Nicklin


Key clients

First Lien Lenders (and now owners) of Lumileds LLC.


Melco Resorts & Entertainment Limited


Ad Hoc Group of First Lien Term Lenders of Neovia Logistics


Gulf Energy Maritime


Bain Capital


KKR


TPG


Goldman Sachs


Davidson Kempner


King & Wood Mallesons

The Hong Kong banking and finance team at King & Wood Mallesons offers ‘pragmatic advice and workable solutions’ to both Chinese banks and global financial institutions, covering a diverse range of transactions often entailing multi-jurisdictional complexities. The firm’s capacity to collaborate seamlessly with numerous finance lawyers situated within Mainland China is a compelling advantage for clients, not only bolstering the firm’s transactional capabilities but also enhancing its expertise in PRC regulatory matters. Richard Mazzochi leads the team and has considerable experience in cross-border financings and PRC access regimes, while David Lam, who splits his time between the firm's Hong Kong and Sydney office, is praised as ‘very knowledgeable and experienced’ in multijurisdictional transactions involving China-related elements.

Practice head(s):

Richard Mazzochi


Other key lawyers:

David Lam; Jessica Zhou; Ashley Wong; Katherine Ke


Testimonials

‘The work is timely; the legal basis involved in the reply is sufficient; the feasible solution can be provided.’

‘KWM team understands our business and commercial needs. It is able to give us pragmatic advice and workable solutions within a very short period of time.’

‘David Lam, partner is very responsive and accessible 24-7. He is knowledgeable and experienced in his profession. Can give us workable and pragmatic advice to help resolve complicated issues and make progress.’

Key clients

China Construction Bank Corporation Hong Kong Branch


CMB Wing Lung Bank Limited


Industrial Bank Co., Ltd., Hong Kong Branch


CNCB (Hong Kong) Investment Limited


Ping An Bank Co., Ltd., Hong Kong Branch


China CITIC Bank International Limited


ICBC Singapore Branch


Credit Suisse AG, Singapore Branch


The Hongkong and Shanghai Banking Corporation Limited


Citigroup Global Markets Asia Limited


MUFG Bank, Ltd.


Macquarie Real Estate Partners SCSp and MREP UK AIV SCSp


Work highlights


  • Advising the Lenders in relation to approximately USD837.7m sustainability-linked loan facilities involving complex fund flow and cross-border payments between the PRC and Hong Kong, account control agreements and bespoke fund flow monitoring provision.
  • Acting as Hong Kong counsel of a syndicate of 27 lenders for USD700m sustainability-linked loan facilities. KWM Shanghai as the Lenders’ PRC counsel.
  • Acted as the syndicated lenders’ lead counsel and Hong Kong law counsel to HSBC and Citi in respect of a three-year EUR200m term loan facility involving complicated cross border structuring issues and advising on PRC and cross-border regulatory issues (including “Neibaowaidai” and foreign debt registration).

Reed Smith Richards Butler LLP

The ‘incredibly commercial’ team at Reed Smith Richards Butler LLP provides advice across a spectrum of financing matters, with a key focus on syndicated and corporate lending. This emphasis aligns with the firm’s overarching sector specialisms, including shipping/offshore and oil and gas. Leveraging the extensive network of the firm’s offices and collaborating closely with its corporate department, the team further provides advisory on international and tax-based asset financings. Clients laud this comprehensive service, highlighting that the team ‘can cover all jurisdictions and provide all legal services in one stop’. Co-heading the group is Peter Lee, alongside the ‘knowledgeable’ Michael Sinn, who now co-leads the team following Chris Tang’s retirement and frequently provides ‘practical and sound advice’ to banks and borrowers alike concerning secured and unsecured syndicated/bilateral financings.

Practice head(s):

Peter Lee; Michael Sinn


Other key lawyers:

Tat Pan; Crystal Li


Testimonials

‘Reed Smith’s team provided legal services for the company to form an offshore syndicated loan. The team is efficient, professional and diligent, helping the company to complete the syndicate signing, withdrawal and subsequent work. As the syndicate involves business in multiple jurisdictions around the world, the Reed Smith team can cover all jurisdictions and provide all legal services in one stop.’

‘Crystal Li has demonstrated his responsible professionalism and professional ability, and provided legal services that satisfy clients.’

‘Reed Smith is the “go-to” law firm for syndicated loan transactions. They are incredibly commercial, responsive and able to provide market colour to us, hence facilitate a smooth, efficient and effective negotiation among all the parties.’

Sidley Austin

Sidley Austin’s banking and finance practice is noted for its representation of borrowers and extends its expertise to cover leveraged financings, asset-backed finance, sustainable bonds, and pre-IPO financings across diverse sectors, including life sciences, real estate, and energy. The team also boasts a significant proficiency on the lending side, having recently served a portfolio of Chinese banks and corporates in a diverse range of complex financing transactions. Clients appreciate the firm’s cross-border capabilities, lauding that the team ‘works seamlessly across PRC, Hong Kong, Singapore and US offices’. Olivia Ngan is ‘very knowledgeable in banking and financing areas’ and heads up the Hong Kong-based team alongside Daniel Lindsey, who focuses on leveraged and acquisition financing transactions and fund level financings. Other key members include Alan Wong, a primary point of contact for international financial institutions with specific expertise in PRC-related matters, particularly concerning clients in the real estate sector.

Practice head(s):

Olivia Ngan; Daniel Lindsey


Other key lawyers:

Alan Wong


Testimonials

‘The team works seamlessly across PRC, Hong Kong, Singapore and US offices and across different practice sectors, which is helpful for complex transactions involving both the financing elements and analysis of underlying assets of investment funds.’

‘I am impressed by the team led by Olivia Ngan. She is very knowledgeable in banking and financing area, and has strong technical skills and extensive experience. All of these makes us comfortable to rely on her advice on a marketing leading and very complex hybrid financing project.’

‘The team is professional, efficient and helps to protect the interests of the client all the time.’

Key clients

R-Bridge Healthcare Fund


CBC Group


Shimao Group Holdings Limited


Geely Automobile Holdings Limited


Canvest Environmental Protection Group Company Limited


JY Grandmark Holdings Limited


Country Garden Holdings Company Limited


Agile Group Holdings Limited


China Minsheng Banking Corp. Ltd., Hong Kong Branch


Inspiration Capital Partners


Work highlights


  • Advised R-Bridge Healthcare Fund, a private fund managed by CBC Group, on a US$40m royalty-backed financing to Yisheng Biopharma Co. Ltd.
  • Advised Adventure Success Limited, a subsidiary of Shimao Group Holdings Limited, on the successful closing of (i) senior loan facilities of HK$10.3bn (US$1.3bn) to replace its original syndicated project loan facilities and (ii) junior loan facilities of approximately HK$1.1bn (US$140m) and approximately HK$604m (approximately US$77m) to replace certain existing loans borrowed by other members of the Shimao Group, both provided by United Overseas Bank Limited.
  • Advised R-Bridge Healthcare Fund (RBF), a fund managed by healthcare-dedicated asset management firm CBC Group on a US$120m “hybrid” fund financing granted by Natixis Corporate and Investment Banking through its Hong Kong branch.

Simpson Thacher & Bartlett LLP

Simpson Thacher & Bartlett LLP’s Hong Kong banking and finance team uniquely serves a select yet distinguished group of borrowers, with cornerstone institutional clients such as Blackstone and KKR among its exclusive clientele. Under the leadership of Makiko Harunari, who directs the Asian banking and credit team, the firm’s reach extends to encompass the expertise of lawyers located in Beijing and Tokyo, should the need arise. This specialised team’s strength lies not just in its borrower-centric approach, but also in its ability to tap into a broader spectrum of expertise, such as real estate financings. The team’s prowess is demonstrated through its involvement in pivotal financing matters across Asia, spanning vital jurisdictions such as Australia, India, Japan, Singapore, and South Korea.

Practice head(s):

Makiko Harunari


Key clients

KKR & Co. Inc.


The Blackstone Group


Primavera Capital Group


SoftBank


Work highlights


  • Advised KKR in financing related to the acquisition of the Hyatt Regency Tokyo by funds managed by KKR and Hong Kong’s Gaw Capital Partners from Odakyu Electric Railway Co.
  • Advised Blackstone Inc. and its affiliates in connection with financing matters related to Blackstone’s acquisition of Crown Resorts Limited (ASX: CWN), representing an equity value of approximately US$6.3bn.
  • Advised Blackstone in financing related to its acquisition of a majority stake in R Systems International Limited.

Slaughter and May

Led by Lisa Chung, Slaughter and May offers a ‘comprehensive and customised service’ covering a spectrum of financing transactions across diverse industries such as logistics, energy, real estate, and TMT. Aligning with the firm’s customary focus on borrower-side strategies, the team is particularly involved in advising corporates, including their financing linked to M&A considerations, along with capital markets and regulatory matters. In the regulatory domain, the team maintains a good relationship with key Hong Kong financial market regulators; several partners serve on various committees and regulatory bodies, enabling the team to leverage this expertise when guiding clients and delivering business-oriented solutions. The team boasts a leading ESG practice and has recently played a role in several ESG financings. Notably, the team advised on the largest sustainability-linked loan in the Asian real estate sector for Link Asset Management.

Practice head(s):

Lisa Chung


Testimonials

‘Slaughter & May traditionally has a strong banking and finance team in Hong Kong. They have a talented team that gets deals done efficiently. In particular, Lisa Chung is a star partner who can combine her technical legal analysis with a good understanding of practical business knowledge. ’

‘Lisa Chung is extremely intelligent and often offers sound and practical solutions. She leads a strong team of lawyers with diverse experiences and excellent deal execution and management skills.’

‘Slaughter’s team of lawyers can provide customers with comprehensive and customized legal services. The team’s lawyers have rich experience and profound insights in the field of banking and finance. It can provide the most efficient solution on the premise of meeting customer needs.’

Key clients

Link Asset Management Limited


Xiamen Port Holding Group Co., Ltd.


China Power International Development


Great River Smarter Logistics (Hong Kong) Limited


Work highlights


  • Advised Link Asset Management Limited (Link), the manager of Link Real Estate Investment Trust (Link REIT), on its HK$12bn sustainability-linked loan facility with 16 leading international, regional and local banks (SLL).
  • Advising Xiamen Port Holding Group Co., Ltd as offeror on the certain funds financing entered into by its wholly-owned indirect subsidiary Shia Ning Shipping Company as borrower for the cash required for the US$288,000,000 privatisation and delisting from the Hong Kong Stock Exchange of Xiamen International Port Co., Ltd.
  • Financing for China Power International Development on its USD 1.1bn acquisition of clean energy assets from China Power New Energy.

Charltons

Charltons is an independent Hong Kong law firm that often represents major multinational, Hong Kong, and PRC clients in cross-border transactions, as well as domestic dealings. The team specialises in Hong Kong corporate finance law, funds, M&A, and IPO matters. It is under the leadership of Julia Charlton, the firm’s founder, who frequently advises on securities law and funds law, as well as being well-versed in addressing novel issues such as cryptocurrency. Charlton recently provided advice on numerous blockchain and metaverse matters, which include assisting a Corporate Services Group with operations across Asia and advising a Hong Kong SFC-licensed crypto exchange on listing security tokens.

Practice head(s):

Julia Charlton


Other key lawyers:

Calvin Ho; Clinton Morrow


Key clients

Alliance Capital Partners Limited


BF Belmont Ltd


Chayora Holdings Limited and its group of companies


Contel Technology Company Limited


Crowell & Moring LLP


Dah Sing Bank, Limited


Debevoise & Plimpton LLP


Dongxing Securities (Hong Kong) Company Limited


Eric Chow & Co. in association with Commerce & Finance Law Offices


Good Taste Limited The controlling shareholder of a listing applicant in the China fast food industry


Joint sponsors and underwriters: Halcyon Capital Limited and Eddid Capital Limited


Macfarlanes LLP


Mishcon de Reya LLP / Comcast Cable Communications Management LLC


Platinum Capital Limited


Shandong Xinhua Pharmaceutical Co Ltd


Somerley Capital Holdings Limited


Clayton, Dubilier & Rice


White & Case LLP (London)


Wing On Company International Limited


Work highlights


  • Advised a closed-ended investment company listed on the Australian Securities Exchange in relation to the back-to-back facility pursuant to which the Client acted as a funding intermediary in connection with funding by the ultimate lender that were to be utilised towards cash flow and working capital of the substantial shareholder group of a Hong Kong listed company as the underlying borrower.
  • Advised an investment manager of the Fund in relation to a Hong Kong law governed credit agreement as well as underlying capital calls security agreement and collateral account security agreement entered into with China Citic Bank International Limited as lead arranger and bookrunner.
  • Advised a world-class data centre operator and infrastructure developer based in Hong Kong in respect of obtaining a RMB200m loan facility from the Pudong Bank in order to fund additional data centre infrastructure.

Deacons

Under the leadership of Ronny Chow, the three-partner team at Deacons delivers a robust service to borrowers and lenders involved in a wide array of transactional work. This encompasses both domestic and cross-border syndicated/bilateral loans, acquisition finance, and real estate finance matters. Erica Wong, who is triple-qualified in Hong Kong, England and Wales, and Australia, brings her versatile expertise to bear, including her handling of club and bilateral financing, acquisition financing, pre-IPO arrangements, and margin financing. In addition to his transactional acumen, consultant Simon Deane handles financial services regulatory matters, including fintech and traditional banking. Over the last year, the team has actively been involved in advising on pertinent regulatory requirements, alongside addressing interconnected issues like data privacy and considerations pertaining to anti-money laundering regulations.

Practice head(s):

Ronny Chow


Other key lawyers:

Teresa Lau; Erica Wong; Simon Deane; Chris Wong; Farrah Lam


Testimonials

‘The work is timely; the legal basis involved in the reply is sufficient; the feasible solution can be provided.’

‘Thanks to their longest history as a Hong Kong law firm, they have been the top quality team in terms of banking and finance. Each lawyer of the team is professional and specialises in the practice of banking and finance.’

‘Chris Wong always gives professional advices thanks to his and his team’s deep practical experience.’

Herbert Smith Freehills

Well-placed to leverage the firm's wider APAC network, the Hong Kong finance team at Herbert Smith Freehills frequently advises Chinese and international banks, as well as corporations. The team’s advisory scope encompasses a diverse range of financing mandates, frequently involving support for M&A transactions, general working capital, and refinancing purposes. Leading the team, Alexander Aitken, in addition to his transactional engagements encompassing PRC and India-linked matters, demonstrates a firm grasp of regulatory issues, particularly those pertaining to the discontinuation of LIBOR. The practice also maintains a tight-knit partnership with the firm’s projects and infrastructure team, which is notably favoured by China-based infrastructure, construction, and engineering players. This collaboration revolves around complex project financing and structuring matters, frequently operating in tandem with Aitken’s finance team.

Practice head(s):

Alexander Aitken


Other key lawyers:

Ellen Mao


Key clients

Agricultural Bank of China


ANZ


Bank of China


BNP Paribas


China Development Bank


China Minsheng Banking Corporation


ICBC


Industrial Bank


JP Morgan


Standard Chartered Bank


Work highlights


  • Advised NH-Amundi, a shareholder, in respect of a senior mezzanine loan required to prevent the underlying project company becoming insolvent with two tranches funded indirectly by NH-Amundi and another tranche funded indirectly by Macquarie Bank.
  • Acted for Meritz as an international counsel for its investment into Lanvin Group, a global luxury fashion group, in a private placement ahead of Lanvin’s de-SPAC listing on NYSE.
  • Advising Kemexon Limited in respect of a corporate guarantee provided in favour of two companies which entered into a sale of wood pallets with a major sustainable solid fuel importer and distributor in Europe.

Minter Ellison

Leveraging its prowess in regulatory mandates in both Hong Kong and China, the team at Minter Ellison frequently advises Chinese and international companies on various types of fund-raising. The firm’s expertise is particularly sought after by investors such as investment banks, asset management divisions of large Chinese state-owned banks, financial institutions, as well as private and public companies. Spearheading the team is seasoned lawyer Fred Kinmonth, who specialises in equity fundraisings, refinancing, restructurings, and large infrastructure projects.

Practice head(s):

Fred Kinmonth


Other key lawyers:

George Tong; Anne Ko; Katherine U; Andrew Yang; Nicole Chan; Bi Chen


Key clients

Premium Financial Limited


EVA Precision Industrial Holdings Limited


ABCI Investment Management Limited


Work highlights


  • Acted for Premium Financial Limited (the Lender) in restructuring the term loan facility in the aggregate principal amount of HK$250,000,000 to HNA Ecotech Pioneer Acquisition (the Borrower) granted in August 2019 (the Loan).
  • Acted for EVA Limited (the Borrower), a wholly-owned subsidiary of EVA Precision Industrial Holdings Limited (HKEx stock code: 838) (EVA Precision), in relation to the term loan facility in the aggregate principal amount of HK$1,190,000,000 (which may be subsequently increased to not more than HK$1,500,000,000) arranged by Hang Seng Bank Limited (as mandated lead arranger and bookrunner and agent) and certain financial institutions (as lenders) for the purposes of (i) refinancing the existing bank loan facilities of EVA Precision and its subsidiaries (collectively, the EVA Group); and (ii) financing the general working capital requirement of the Group.
  • Acted for ABCI in relation to the subscription by Heroic Day Limited (a subsidiary of ABCI, which in turn is a subsidiary of the Agricultural Bank of China Limited) of senior secured guaranteed notes in the principal amount of US$210,000,000 (the Notes) issued by Zhuguang Holdings Group Company Limited (HKEx stock code: 1176) (the Issuer, together with its subsidiaries, the Group).

Paul Hastings LLP

Paul Hastings LLP handles a wide array of work, showcasing its prowess not only in capital market raisings but also in loan financing matters. Led by James MaJia Yan and Vivian Lam, the practice’s strengths span various sectors, with a particular edge in real estate, leveraged, project, and shadow financing. The team effectively taps into resources across the firm’s extensive international network, excelling in deals that involve complex and often highly structured financing terms. Recently, the group has been leveraging the momentum in outbound financing within the Chinese market, actively representing Chinese financial institutions in outbound investment projects, thus capitalising on the heightened activity in this domain.

Practice head(s):

James Ma; Vivian Lam; Jia Yan


Other key lawyers:

Jeff Lee; Hulka Lo


Key clients

China Orient Summit Capital


Sino-Ocean Group


Bank of Taiwan


Taipei Fubon Commercial Bank


CTBC Bank


ICBC International Capital Limited


Maybank Investment Bank


WH Group


Standard Chartered Bank


China Everbright Limited


JPMorgan Chase Bank NA


COSCO


Ping An


China Development Bank


Redsun Properties Group Limited


Yuzhou Group Holdings Company Limited


Sheng Yuan Holdings Limited


Contemporary Ruiding Development Limited


Zhangjiakou Financial Holding Group


Work highlights


  • Advised Mapletree North Asia Commercial Treasury Company (HKSAR) Limited, MPACT Treasury Company Pte. Ltd.
  • Advised Wuxi Chengkai Industrial Development Group Co., Ltd., Chinese state-owned infrastructure construction enterprise in Binhu District, Wuxi City, on its €160m 2.25% credit enhanced bonds due 2025 backed by an irrevocable standby letter of credit issued by Bank of Ningbo.
  • Advised Haier Financial Services Co., Ltd. as Hong Kong legal counsel in its US$200m social bond issuance due 2027.

Ropes & Gray LLP

Counting private equity sponsors and portfolio companies among its key roster of clients, Ropes & Gray LLP is noted for its capability in handling leveraged acquisition across China and the Asia Pacific region. Jackie Kahng leads the team and advises on cross-border leveraged finance transactions, including acquisition finance and real estate finance mandates. Stephen Hui is another key contact in the group and handles matters concerning acquisition and leveraged finance, mezzanine finance, fund finance, direct lending and special situations debt investments.

Practice head(s):

Jackie Kahng


Other key lawyers:

Stephen Hui


Testimonials

‘Expert knowledge, deep experience, commercial and solutions-focused.’

Key clients

Bain Capital


Baring Private Equity Asia


Blackstone


IGIS Asset Management


KKR


MBK Partners


Naver Corporation


Nexus Point Advisors HK Limited


Tor Investment Management Hong Kong Limited


TPG Capital


Work highlights


  • Represented Nexus Point Advisors (HK) Limited (“Nexus Point”) in connection with the financing for Nexus Point-led consortium’s acquisition of Honour Lane Shipping (HLS), a Hong Kong-based logistics company.
  • Represented Bain Capital Special Situations in connection with the financing for its co-investment in the advanced materials business of Hanwha Solutions alongside Glenwood Credit.
  • Represented Bain Capital Private Equity in the financing for Bain’s acquisition of a majority stake in CLASSYS, Inc., a medical aesthetic devices company listed in South Korea with a fast-growing market presence in over 55 countries around the world.

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden, Arps, Slate, Meagher & Flom LLP has demonstrable experience acting for borrowers in financing acquisitions, margin loans and other loan facilities, in addition to collaborating with the firm's corporate and M&A group, advising on the financing for PRC going-private acquisitions. UK and Hong Kong-qualified of counsel John Hartley leads the team and handles all aspects of debt finance matters. Rosanna Passmore is another key contact in the group.

Practice head(s):

John Hartley


Other key lawyers:

Rosanna Passmore


Key clients

Central Group and SIGNA Group


Weibo Corporation


Trip.com


The Baupost Group, LLC and Goldfinch Partners LLC


Stephenson Harwood

Key areas of expertise for Stephenson Harwood include asset finance, including shipping, aviation and real estate, in addition to syndicated lending, structured finance, trade finance, fintech, investment products and secured and unsecured lending. Katherine Liu leads the team and frequently advises banks on regulatory and compliance issues. Other key members include Elton Chan, who acts for both lenders and borrowers on a wide range of corporate lending matters, as well as Anna Kwong, an expert in trade finance and commercial banking. Of counsel Teresa Tsoi is praised as 'technically excellent and very diligent'.

Practice head(s):

Katherine Liu


Other key lawyers:

Elton Chan; Anna Kwong; Teresa Tsoi


Testimonials

‘Fast, efficient and knowledgeable. Willing to go the extra mile.’

‘The banking and finance team at Stephenson Harwood Hong Kong has the understanding and knowledge of the Japanese maritime industry and provides accurate and elaborate legal analysis of Hong Kong law and English law.’

‘SH is well-developed in Hong Kong market with an impressive reputation.’

‘One strength of SH is its flexibility on pulling adequate resources in helping urgent deals get across the line.’

‘Teresa Tsoi from SH has been extremely responsive and can always provide professional advice to us. She has very strong negotiation skills who can always work the best for the client.’

‘A diverse team with great talent.’

‘Teresa Tsoi is technically excellent and very diligent. She delivers high-quality legal documentation with high efficiency.’

Key clients

Airstar Bank Limited


Airwallex (Hong Kong) Limited


Ant Bank (Hong Kong) Limited


Ant Group Co., Ltd.


Bank of Communications Co., Ltd


Bank SinoPac Co., Ltd.


BNP Paribas


China Construction Bank


China Construction Bank (Asia) Corporation Limited


China Development Bank


China Minsheng Bank


CIB Leasing


Cinda Leasing


Credit Suisse


CTBC Bank Co., Ltd.


Futu Lending Limited


Futu Securities International (Hong Kong) Limited


Haitong Leasing


HKT Flexi Limited


HSBC


ICBC Financial Leasing Co., Ltd.


Industrial and Commercial Bank of China


JPMorgan Chase


Oversea-Chinese Banking Corporation, Limited


OCBC Wing Hang Bank Limited


PrimeCredit Limited


Raiffeisen Bank International


Shanghai Pudong Development Bank


Standard Chartered Bank


Svenska Handelsbanken AB (publ)


The Export-Import Bank of China


United Overseas Bank Limited


WeLend Limited


Wells Fargo Bank


Work highlights


  • Advised United Overseas Bank Limited on its HK$ 12.1bn refinancing of Shimao Group’s Kowloon Tong (Hong Kong) residential development.
  • Acting for Agricultural Bank of China Limited Hong Kong Branch, Bank of Dongguan Co., Ltd. Hong Kong Branch, China Bohai Bank Co., Ltd.-Hong Kong Branch, China Merchants Bank Co., Ltd., Hong Kong Branch and China Zheshang Bank Hong Kong Branch on PRC on-shore guarantee and on-shore loans, which are a major product offered by many PRC banks in Hong Kong.

Stevenson, Wong & Co

Stevenson, Wong & Co regularly acts on behalf of both lenders and borrowers in a variety of transactions, encompassing loans, cross-border project finance, trade financing, receivables, aircraft and asset financing, as well as regulatory and compliance affairs. Leading the team is Heidi Chui, whose background as an internal legal adviser for multiple Chinese banks enriches her capabilities in managing disputes involving companies across a wide array of matters, including shareholder disputes, derivative actions, and petitions related to unfair prejudicial conduct.

Practice head(s):

Heidi Chui


Testimonials

‘The banking and finance team of Stevenson, Wong & Co has profound industry experience, and in-depth insights into loans and guarantees, trade products, derivatives and cross-border financing, and is able to understand customers’ business needs, product characteristics, and practices.’

Key clients

Bank of China (Hong Kong) Limited


China Everbright Bank Co., Ltd., Hong Kong Branch


Industrial and Commercial Bank of China (Asia) Limited


China Guangfa Bank


Huaxia Bank, Hong Kong Branch


Baohai Bank, Hong Kong Branch


Industrial Bank Limited, Hong Kong Branch


Livi Bank (Virtual Bank)


Bank of Shanghai, Hong Kong Branch


Ping An Bank Co. Ltd., Hong Kong Branch


BDO Unibank Inc., Hong Kong Branch


Nanyang Commercial Bank Limited


China CITIC Bank International Limited


Ernst & Young Transactions Ltd


RSM Nelson Wheeler


F.S. Law & Co.


BDO Financial Services Limited


Sina Corporation


Deloitte Hong Kong


Weil, Gotshal & Manges LLP

The banking and finance practice at Weil, Gotshal & Manges LLP handles a wide spectrum of financing work, including leveraged and acquisition finance transactions, often in collaboration with its robust private equity and M&A teams. The team serves a roster of Chinese borrowers, investors, and lenders, as well as international private equity firms, including The Carlyle Group. Leading the group is counsel Kevin Yao, who specialises in leveraged and sponsor financing matters.

Practice head(s):

Kevin Yao


Key clients

American Securities LLC


BPEA EQT


Cornell Capital


Dream Cruises


FountainVest Partners


GIC


HSBC


kdc/one Development Corporation, Inc.


Ontario Teachers’ Pension Plan Board (OTPP)


TCL Zhonghuan Renewable Energy


TPG Capital


Work highlights


  • Advised Mr. Rick Yan (co-founder and CEO of 51job, Inc.) in the US$1.90bn leveraged financing for the take-private of 51job, Inc. as well as the US$450m founder financing to fund Mr. Rick Yan’s capital contribution in respect of the take-private.
  • Advised Baring Private Equity Asia in the financing aspect of its sale of HCP Packaging to Carlyle.
  • Advising Asian PE sponsors as members of consortium in US$3.3bn restructuring of Genting Hong Kong group and Dream Cruises business.