Acquisition by Dynasty Property Investment Limited (DPIL) on nine commercial retail properties in the People’s Republic of China
We were the lead lawyers to DPIL on its acquisition of nine commercial retail properties in China and advised DPIL on a US$150 million facility secured for the acquisition from a syndicate of lenders. We understand that this is one of the largest transactions involving offshore financing of Chinese real property.
Our lawyers acted for ABN AMRO, Record Investments Limited and the Australian Military Superannuation Fund in their investment in the CITIC Allco Investments Fund. The fund will invest in structured finance transactions in Greater China.
We advised Standard & Poor’s in relation to an indexing JV with CITIC and the setting up of a wholly foreign owned investment consulting entity.
International automobile financing corporation
Our lawyers assisted an international automobile financing corporation in reviewing and assessing various issues concerning the establishment of an auto-financing business in China.
Credit Suisse project financing
Our team advised Credit Suisse on a US$700 million syndicated loan for project financing to a joint venture in China.
China Construction Holdings Limited restructure
We acted for China Construction Holdings Limited on the restructure of a tranche of US$60 million floating rate notes and a tranche of US$70 million floating rate notes. China Construction Holdings’ business includes the ownership and development of properties in the People’s Republic of China. It also has a substantial holding in a Singapore-listed company called China Toll Bridges and Roads Ltd.
The restructure was a workout achieved largely on contractual undertakings amongst note holders (the primary creditor group) rather than a more formal insolvency proceeding. The methodology used gives an indication of the innovative solutions available for Chinese workouts. The restructure offered more flexibility and less risk of judicial intervention. For the note holders, it provided them with the ability to focus the company on their requirements rather than the requirements of every other creditor.
"The firm has broadened its horizons over the last three years by focusing on expanding its capabilities in Asia…This has given the much-needed local know-how and legal expertise to exploit the numerous opportunities emanating from the Chinese marketplace.”
The Global 50, PLC Which Lawyer? Yearbook 2006