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Advising on a significant refinancing

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    Eversheds Sutherland advises on HK$1.75 billion debt restructuring and refinancing.

    Eversheds Sutherland has advised the debtor group, a leading conglomerate and client, on its HK$1.75 billion debt restructuring and refinancing in Hong Kong.

    The restructuring and refinancing was done using quasi-securitisation and structured finance technology. The multi-tier debt is secured against a portfolio of luxury residential properties in Hong Kong and their cashflow. The transaction closed in August 2020, and was led by Kingsley Ong, Head of Restructuring and Structured Finance, Asia, from Eversheds Sutherland.   

    Kingsley, commented:

    “This deal closed in a market that continues to be challenged by COVID-19 and global political tensions. The successful completion of this restructuring demonstrates the resilience of the Hong Kong luxury residential real estate market. We congratulate our client on their success.”

    Kingsley Ong was assisted by Simon Barrell, Of Counsel; George Cheung, Of Counsel; and Polly Chiu, Associate. DLA, Ashurst and Withers acted for the various financing parties.

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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