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Hong Kong – White & Case Advises On USD8bn Financing For Alibaba Group.

17 June, 2013

 

White & Case LLP has advised the nine banks underwriting a new US$8 billion bank facility to Alibaba Group Holding Limited, China’s e-commerce giant.  

 

White & Case advised Australia and New Zealand Banking Group Limited, Citigroup Global Markets Asia Limited, Credit Suisse AG, Singapore Branch, DBS Bank Ltd., Deutsche Bank AG, Singapore Branch, The Hongkong and Shanghai Banking Corporation Limited, JPMorgan Chase Bank, N.A., acting through its Hong Kong branch, Mizuho Corporate Bank, Ltd. and Morgan Stanley Asia Limited as mandated lead arrangers, and Citicorp International Limited as agent and security agent, on this new financing.  The funds are in part for Alibaba to refinance its existing financings from 2012.

 

“In today’s loan markets, this is a highly successful transaction for our clients and Alibaba.  It has been a pleasure working with all parties involved in the Alibaba financings over the last two years,” said John Hartley, head of White & Case’s Asia banking and finance group, and executive partner of the Firm’s Hong Kong office.

 

The White & Case team was led by John Hartley, who was supported by local partner Eugene Man and associates Jiejin (Victoria) Yu and June Chun. Partner John Shum advised Citicorp International Limited as agent and security agent on the financing.

Other law firms involved in the deal were Walkers as Cayman and BVI counsel and King & Wood Mallesons as PRC counsel to the banks.  Freshfields acted as international counsel to the borrower, and Maples and Calder as Cayman and BVI counsel.

 

This deal follows our role advising the banks underwriting the US$1 billion financing in support of the purchase of Yahoo!’s 40 percent stake in Alibaba in September 2012 and advising the banks underwriting the US$3 billion financing in support of the take private of Alibaba.com Ltd in May 2012.

 

For further information, please contact:

 

Andrew Rieley, White & Case 
arieley@whitecase.com 

 

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