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Baker & McKenzie Advises Joint Coordinators On USD558m Structured Onshore & Offshore Financing.

18 February, 2014

 

Baker & McKenzie recently advised the joint coordinators, Standard Chartered Bank (Hong Kong) Limited and Hang Seng Bank Limited, on the US$558m (RMB3.4bn) two-tranche onshore offshore financing for certain entities being advised by Phoenix Property Investors Limited, a Cayman Island fund management firm. 
 
The financing consists of a HKD2.212bn offshore tranche and a RMB1.63bn onshore tranche. The offshore tranche, which has a HKD1.8625bn sub-tranche for acquisition of a real estate project and a HKD350m sub-tranche for further related activities, is collateralized by a mixed used development in the PRC. The onshore tranche is split into a RMB890m and a RMB740m facility for two onshore companies holding the project.
 
The Baker & McKenzie team was led by Hong Kong-based partner Sally Hung, and supported by special counsel Charles Chen.
 

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