Syndicated Loans
King & Wood has extensive experience with the syndicated loan business. We have taken part in numerous syndicated loan transactions on behalf of parties from various sides including borrowers, arrangers, agents or participating lenders. Our clients include domestic and international banks, state-owned enterprises, foreign-invested enterprises and private businesses. We have also advised on many RMB and USD denominated multi-currency syndicate loans and domestic syndicate loans.
Our work scope in syndicated loan transactions includes the drafting and negotiation of loan and security documents, providing legal analysis and solutions to the relevant issues and the issuance of formal legal opinions.
Some key projects we have been involved in these years are indicated as below:
- In 2009, representing a syndicate composed of several Chinese banks in its syndicated loan of several billion yuan to a PRC subsidiary of a world’s leading chemical company.
- In 2008, representing a syndicate composed of China Development Bank, China Citic Bank Guangzhou Branch and Shanghai Pudong Development Bank Guangzhou Branch in its financing to Lianzhong (Guangzhou) Stainless Steel Corporation for an 800,000 tons of stainless steel project.
- In 2008, representing China Construction Bank in a syndicated loan to Beijing Foton Cummins Engine Co., Ltd.
- In 2007, acting as legal counsel to JP Morgan in its lending of dual-currency loan equivalent to thousands of millions RMB to Henan Tianrui Group Cement Co. Ltd. This was the first ever dual-currency loan for an international lender to companies in the mainland China with innovative finance and security structures. This deal won the IFR Asian PRC Loan Project of the Year Award.
- In 2007, acting for BNP Paribas and other banks in a syndicated loan of 100,000,000 USD to three PRC subsidiaries of Radiant Opto-Electronics Corporation.