Project Finance

King & Wood is widely recognized as a leading Chinese law firm in the field of project finance. Our expertise spans a wide range of industries including energy, real estate, transportation, ports construction, water treatment and other infrastructure and manufacturing sectors. Our clients include lenders (domestic and foreign banks), developers, project companies, contractors and other parties, and we have a good understanding of the considerations of relevant parties and their concerns in respect of each specific project.

Our lawyers explore a broad array of legal issues throughout the implementation process of a project, including the establishment of project companies, structuring the financing, the creation of security (including mortgage over immovable assets, mortgage over movable assets, pledge of accounts, pledge of shares, pledge of receivables, etc.), environmental protection, EPC contracts, insurance, land use rights issues, preferential tax policies, foreign exchange controls, relevant approvals and registrations, and coordination with government authorities, etc.. Our lawyers are not only knowledgeable about the principles and application of Chinese Law but also have a deep understanding of the unique needs of our clients, enabling us to provide our clients with constructive and creative solutions.

• Energy Project Finance
• Infrastructure Finance

Our recent involvement in project finance includes:

• Advising Sinopec, Exxon-Mobil and Saudi Aramco Overseas B.V., the three renowned petrochemical companies, on a multi-currency loan facility equivalent to around thirty billion RMB to the first Fujian-based integrated petroleum refinery in China. This deal won the Asian Counsel Deal of the Year 2007 Award and IFLR Project Finance Deal of the Year 2007 Award respectively.
• Representing Guangdong Dapeng LNG Company Ltd. in its borrowing of RMB long-term loan and USD long-term and working capital loans equivalent to more than five billion yuan from a syndicate of Chinese banks and arranged by the Agricultural Bank of China for its Guangdong LNG gas pipeline project.
• Advising the borrower on the Meizhouwan Power Plant refinancing project. This refinancing was the first refinancing transaction in China by a Chinese bank to a wholly foreign owned project. The relevant parties re-negotiated to achieve a restructuring of all foreign debts of the project.
• Representing the project company as the borrower in its Hubei Xisaishan Power Plant Project in the financing of its 2×330MW and a 100MW coal power plant construction. We advised on the establishment of the joint venture power plant, negotiated and revised all project documents and financing documents (for instance the turn-key contract, the electricity purchase agreement, the coal supply agreement, the grid connection agreement, the loan agreement and security documents) and issued legal opinions.