15 December, 2014

Skadden represented Credit Suisse as solicitation agent in connection with the high yield bonds consent solicitation by Powerlong Real Estate Holdings Limited, a PRC real estate developer whose shares are listed on the Hong Kong Stock Exchange.  The consent solicitation involved amendments to the restricted payment covenants under the indentures governing the company’s US$250 million principal amount of 11.25% senior notes due 2018 and RMB800 million principal amount of 9.5% senior notes due 2016.  The deal was announced and closed on December 12, 2014.  For more information, please see Powerlong’s announcement here.

The deal was lead by Skadden Hong Kong corporate partner Edward Lam.

Conventus Law