Acting as BVI counsel to Studio City Company for its US$350 million senior secured notes offering
Advising Shanghai Pudong Development Bank Shanghai Branch on BVI and Cayman Islands law in relation to secured term loan facilities up to an aggregate amount of US$3.8 billion for the acquisition and privatisation of a NYSE listed company, 58.com. This transaction won the Finance Deal of the Year 2021 at the Asian Legal Business Hong Kong Law Awards.
Acting as BVI and Cayman counsel to Deutsche Bank AG on the facility, purpose of which is to refinance an existing facility and for on-lending an intercompany loan for general corporate purposes. The security package includes both onshore and offshore security documents, whereby certain constitutional documents of the BVI security provider has to be notarised and legalised (on which Harneys also assists) before the underlying onshore security interests become valid under the PRC laws upon registration. (August 2021)
Acting as BVI and Cayman counsel to the CS team on the facility, purpose of which is to refinance an existing facility sharing an identical deal structure. To guarantee the liabilities of the Borrower under the Facility Agreement, corporate guarantee was granted by the Cayman parent of the Borrower and also 24 of the Borrower’s BVI subsidiaries. The security package also involves accession to an intercreditor agreement with an existing pool of shared securities (including share mortgages in respect of the BVI subsidiary guarantors), and a BVI minority borrower share mortgage. (July 2021)
Acting as BVI and Cayman counsel to the Taipei Fubon team on the multi-tranche facility, purpose of which is to (i) finance consideration for the acquisition of a Hong Kong property-holding company and to (ii) refinance existing Fubon facilities. The common security package includes share charges in respect of the 2 BVI borrowers, one of which is entered into by a Cayman LP (through its general partner) and an assignment and subordination deed of all the shareholder and intra-group loans advanced to the 2 BVI borrowers and the BVI guarantor. (July 2021)
Advising Deutsche Bank in relation to the financing of Key Safety Systems’ US$1.6 billion acquisition of Takata Corporation, a Japanese air-bag maker
Advising US private equity firm, Warburg Pincus, in relation to their investment, via a tranche of US dollar financing, in the Chinese payment giant Ant Financial
Advising on Studio City Company Limited’s Rule 144A/Regulation S international offering of senior secured notes due 2019 and senior secured notes due 2021, and its super senior revolving credit facility. The deal was named High Yield Deal of The Year at the IFLR Asia Awards in 2017
Advising Deutsche Bank on its financing to Intime International Holdings Limited in relation to the joint acquisition (by way of Cayman scheme of arrangement) with Alibaba for Intime Retail (Group) Company Limited
Advising Industrial and Commercial Bank of China (Asia) Limited on the US$1 billion financing to Melco Investment Resources Limited in relation to the purchase of certain shares in Melco Crown Entertainment Limited
Advising the joint lead managers on Yuzhou Properties’ series of High Yield Bond Offerings
Advising CTBC Bank Co., Ltd. on its loan facility to Bain Capital Rise Education Limited
Advising Morgan Stanley on its loan facility to Bain Capital VXI Cayman Ltd
Advising Yuzhou on its US$300million issuance of 7.85 per cent green notes and concurrent tender offer
