Dynasty Property Investment (Holdings) Limited offshore debt refinancing of PRC real property for US$155 million
Mallesons acted for Dynasty Property Investment (Holdings) Limited in relation to the refinancing of an existing bank debt facility by way of an US$155 million syndicated facility. We helped structure a unique offshore and onshore security package and negotiated on behalf of our client all financing documents with Standard Chartered Bank (Hong Kong) Limited, who acted as facility agent for the syndicate of banks. The onshore security package included mortgages over nine shopping centres located in nine cities in China. We overcame the complex requirements of taking domestic security over real property in China.
As international counsel, we were responsible for coordinating efforts across multiple jurisdictions including domestic counsel in the PRC, Mauritius and Bermuda and client teams in Hong Kong, China and Sydney.
Our team was involved in the deal since its inception, acting as lead lawyers for our client on its initial acquisition and related debt and equity financing of the underlying properties and issuance of China's first cross-border commercial mortgage-backed securities. We leveraged from our long-standing relationship with the client and helped them to achieve their legal and commercial objectives.
The Hong Kong and Shanghai Hotels, Limited HK$1.225 billion facility
Mallesons has advised HSH Financial Services Limited, a wholly-owned subsidiary of luxury hotel and property group, The Hong Kong and Shanghai Hotels, Limited ("HSH"), on a HK$1.225 billion (US$129 million) term loan facility guaranteed by HSH. The proceeds of the facility will be used for refinancing existing indebtedness and for general corporate purposes of HSH and its subsidiaries.
Mallesons helped the borrower structure, negotiate and document the facility with a group of seven international banks, including ANZ, Bank of China (Hong Kong) Limited, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Calyon, HSBC, Industrial and Commercial Bank of China (Asia) Limited and Standard Chartered Bank (Hong Kong) Limited.
- We acted for Allco Finance Group in respect of the acquisition, financing and leaseback of one Airbus A330 aircraft for a Korean carrier.
- We acted for Allco Finance Group on the acquisition and financing of multiple Airbus A320 aircraft for an Indian low cost carrier.
Courts Singapore/Mammoth Malaysia US$100 million leveraged acquisition financing
We acted for Standard Bank as senior debt provider supporting the acquisition of Courts Singapore and Mammoth Malaysia, a furniture retailer by investment vehicles of Barings Private Equity, The International Investor KSCC and Deutsche Bank.
Golomt Bank US$10,000,000 Convertible Loan
We acted for Credit Suisse, Singapore Branch on the provision of a US$10,000,000 subordinated convertible loan to Golomt Bank of Mongolia LLC, one of the leading banks in Mongolia.
Hotel group syndicated borrowing
We advised a luxury hotel group on its HK$3.5 billion syndicated borrowing. Mallesons helped the borrower structure, negotiate and document a dual tranche secured transferable credit facility with a syndicate of 19 international banks.
MacarthurCook Industrial REIT
We acted for the joint underwriters HSBC and UBS as international counsel on the S$296.8 million ($195 million) IPO of MacarthurCook Industrial REIT, a Singapore listed REIT. The offering included a public offer in Singapore and a Regulation S international placement.
Privatisation of Masinloc Coal-Fired Thermal Power Plant
We acted for AES Corporation in its bid for, and US$1.1 billion financing of, the Masinloc Coal-Fired Thermal Power Plant located in the Philippines.
“A major competitor for every firm in the market, Mallesons is consistently renowned for being a frontrunner in financial services, with an exceptionally strong banking client base…Mallesons has proved itself equally competent in the regulatory market..”
IFLR 1000 2008