Hall Of Fame

Next Generation Partners

Banking and finance: foreign firms in China

A&O Shearman

Praised for offering a 'thorough understanding of international financial institutions', A&O Shearman's banking and finance team supports Chinese and international investment and commercial banks, private credit funds and pension funds. The team is supported by the Allen & Overy Lang Yue (FTZ) Joint Operation Office for PRC law capability, and works collaboratively with its teams in Hong Kong and Singapore. Team head Yvonne Ho handles project financing, export credit financing, structured lending, and acquisition financing, while Matthew Bisley has experience in asset finance including aviation and shipping. The pair are 'well respected in the industry', recommended for their 'technical skills'.

Responsables de la pratique:

Roger Lui; Yvonne Ho


Autres avocats clés:

Matthew Bisley


Les références

‘AOS China Banking and Finance team offered the niche but important skillset that we needed. We need lawyers on the ground with language skills but also with thorough understanding of international financial institutions.’

‘Yvonne Ho is very pragmatic and she has a great team of associates helping her to execute transactions in speedy and reliable manner.’

‘Matthew Bisley knows our institution well and his knowledge saves a lot of unnecessary communication / turnaround time.’

Principaux clients

ESR Group Limited


CMB Wing Lung Bank Limited


Sumitomo Mitsui Banking Corporation


Standard Chartered Bank


HSBC


China Construction Bank


Gaw Capital


China CITIC Bank International


China CITIC Bank


China Development Bank


Principaux dossiers


  • Advised ESR and Chinachem Group, a leading property developer in Hong Kong, on a HKD8.8 billion limited recourse green loan to their joint venture to develop and operate a prime cold storage and logistics facility in Kwai Chung.
  • Advised the syndicated lenders in a USD1.2 billion sustainability-linked syndicated corporate term loan facility to China Solar Energy Investment Limited.
  • Advised DBS Bank Ltd., Hong Kong Branchas lender and green loan advisor on a green loan facility to help CSAIL Renewable Energy Investment Ltd (“C-SAIL”) refinance its overseas renewable energy projects.

Linklaters

Recommended for its 'depth and breadth of knowledge in clients' industries', the banking and finance team at Linklaters 'has the exceptional capability of delivering top quality legal service'. Its practice includes complex structured lending and private credit transactions, advising borrowers, lenders, and other financial players. Team head and 'renowned partner' Frank Cui, in Hong Kong, is a specialist in leveraged financing, often assisting Chinese, Taiwanese, and international banks in the region. Also in Hong Kong, Maggie Ng has particular expertise regarding sustainability-linked facilities and green loans, while Bernard Chain advises on private credit, corporate and structured lending: the pair are 'market leaders'.

Responsables de la pratique:

Frank Cui


Autres avocats clés:

Maggie Ng; Bernard Chain; Alex Nolet; Bernard Ng


Les références

‘Linklaters is one of the most experienced law firms for banking and finance in the Greater China region. They have a very good mixture of international and local PRC lawyers who can provide advice on matters ranging from syndicated loans to highly complex sponsored trades and leverage deals. They offer a broad range of experts who specialise in banking finance, leverage and restructuring. Very few other firms, if any, offer the same kind of range.’

‘Bernard Chain and Maggie Ng are the market leaders in banking and finance for the Greater China region. Their ability to understand both the international, local PRC and HK market and cross border trades from a commercial, cultural and legal perspective is very rare in the market. They are the go to lawyers for those engaged in complex trades who want lawyers providing practical and commercial advice.’

‘Bernard Ng is an up and coming senior lawyer who is calm, enthusiastic and able to navigate through highly pressurised trades.’

Principaux dossiers


White & Case LLP

'One of the best teams in the market', White & Case LLP's banking and finance offering acts for major international and domestic banks along with alternative capital providers. It continues to strengthen its practice acting for private equity sponsors on leveraged finance transactions. 'Excellent partner' Eugene Man heads the team from Hong Kong, particularly noted for his work in structured private debt and credit financing. David Li is executive partner of the Beijing office, focusing on China inbound and outbound financing and investment transactions. Also in Beijing, Cherry Zhou has experience of sustainability-linked loans; Frank Shu is the go-to for Shanghai, experienced in acquisition finance, structured finance, and real estate finance.

Responsables de la pratique:

Eugene Man


Autres avocats clés:

David Li; Baldwin Cheng; Frank Shu; Cherry Zhou; Manley Leung


Les références

‘David Li has wide knowledge of banking and non-banking legal frameworks, excellent communication and coordination skills among Chinese transaction stakeholders.’

‘One of the best teams in the market – technically excellent, responsive, commercial, super-helpful and great bench. First rate in all respects.

‘Eugene Man leads the practice and is available, responsive very commercial and transparent. Excellent partner.’

‘David Li from White & Case (Beijing) is an excellent banking & finance lawyer. David demonstrates remarkable depth of knowledge and expertise in private credit transactions. Client service is top-notch, always responsive and is very commercial. One of my favourite external lawyers.’

Principaux dossiers


Ashurst

The banking and finance team at Ashurst is praised for its ability to ‘efficiently provide high-quality legal services‘, handling a range of complex deals including project financing, real estate financing, and margin loans. Head of team Patrick Phua specialises in PRC laws, advising on major outbound and cross-border financing transactions, while Chin Chuan Chen is sought out by international and Chinese banks and financial institutions for complex, critical matters. Daniel Lau is a go-to for sustainability-linked loans, experienced in complex regulatory changes and their impacts.

Responsables de la pratique:

Patrick Phua


Autres avocats clés:

Chin Chuan Chen; Daniel Lau; Katherine Huang


Les références

‘Ashurst has obvious advantages in the field of derivatives and global markets. It has a relatively large derivatives practice team that can efficiently provide high-quality legal services for transactions and compliance matters in this field.’

Principaux dossiers


Baker McKenzie

The ‘responsive and proactive‘ team at Baker McKenzie FenXun leads in aviation finance, real estate finance, and project finance, along with growing strength in leveraged and acquisition finance, fund finance and private credit. Andrew Lockhart heads the team from Hong Kong, while Simon Leung handles cross-border financing matters from both Hong Kong and Beijing. In Beijing, Duan Cui focuses on China related outbound banking and finance matters. Grace Li is a key name in Shanghai, working with both domestic and international banks on their financing and business operation matters.

Responsables de la pratique:

Andrew Lockhart


Autres avocats clés:

Simon Leung; Grace Li; Duan Cui


Les références

‘Very familiar with the private credit industry, can give valuable advice on individual issues.’

‘The team is familiar with onshore PRC legal requirements and have a good understanding of foreign lenders’ concern, thus able to provide advice and guidance to a syndicate with good mix of local and foreign banks.’

‘The team is very responsive and proactive in addressing borrowers’ and lenders’ concern. The team not only has good expertise of onshore credit market but also the growing cross border financing market which is apparently more complex in terms of legal and regulatory requirements.’

Principaux clients

China CITIC Bank International Limited


China Lesso Finance Limited


CNCB (Hong Kong) Investment Limited


Securities and Futures Commission


Standard Chartered Bank (Hong Kong) Limited


The Hongkong and Shanghai Banking Corporation Limited (HSBC)


China Construction Bank Corporation, Sichuan Branch


PT Huafei Nickel Cobalt


China Minsheng Banking Corp., Ltd. Hefei Branch


China Minsheng Banking Corp., Ltd. Shanghai Pilot Free Trade Zone Branch


China Minsheng Banking corp., Ltd. Shenzhen Branch


China Construction Bank (Asia) Corporation Limited


Industrial Bank Co., Ltd.


China Bohai Bank Co., Ltd., Shanghai Pilot Free Trade Zone Sub-Branch


Principaux dossiers


  • Acted for China Construction Bank Corporation, Sichuan Branch on Sinosure covered term loan facilities extended to PT CHENGTOK LITHIUM INDONESIA, to support the development and construction of a production line.
  • Acted for China Minsheng Banking Corp., Ltd. Hefei Branch and China Minsheng Banking Corp., Ltd. Shanghai Pilot Free Trade Zone Branch in the aforesaid facility for financing the development of a 50 MW wind power plant in Kazakhstan.
  • Advised a syndicate of 15 lenders in the debut syndicated loan financing to New Development Bank (NDB).

Clifford Chance LLP

Clifford Chance LLP’s banking and finance team is noted for its work in complex, cross-border financing transactions. It regularly works with international and domestic investment banks, private credit providers, and private equity sponsors. Team heads Anthony Wang and Matthew Truman are based in Hong Kong, while Maggie Lo is recommended across Hong Kong and Beijing for work in project and acquisition finance and corporate loan transactions. Jiahua Ni is the key name in Shanghai, specialising in PRC-related cross-border financings with a focus on significant outbound finances for major China banks.

Responsables de la pratique:

Anthony Wang; Matthew Truman


Autres avocats clés:

Jiahua Ni; Maggie Lo


Les références

‘Very professional. Quick to respond.’

‘Maggie Lo is very experienced and knows what clients are concerned about.’

Principaux clients

Asian Infrastructure Investment Bank


Banco Santander, S.A


Bank of China


BlackRock


Carlyle Group Inc


Credit Suisse


CVC Capital Partners


Health and Happiness (H&H) International Holdings Limited


Hillhouse Investment


Hong Kong Broadband Network Limited


ING


NWS Holdings Limited (NWS)


PAG Asia Capital (HK) Limited


Silver Point Finance


The Executive Company Limited


Wynn Resorts


Principaux dossiers


  • Advised a syndicate of international banks, led by Bank of China and ING as initial mandated lead arrangers, on the international aspects of its approximately US$3.9 billion financing for the development of a nationwide 4G and 5G telecommunications network in the Philippines by Dito Telecommunity Corporation (Dito).
  • Advising in connection with the development of a multi-billion dollar integrated resort on Ras Al Khaimah’s Al Marjan Island.
  • Advised BOC Macau and the lender group on the acquisition finance for the privatisation of Vinda International Holdings Limited by Isola Castle Ltd, a member of the Royal Golden Eagle Group, by way of pre-conditional voluntary conditional cash offer.

Pinsent Masons

The China banking and finance team at Pinsent Masons regularly works with Chinese state-owned contractors and developers throughout the life cycle of their projects. It has a growing restructuring practice. Head of team Kanyi Lui, based in Beijing, advises on sovereign debt restructurings alongside his complex projects work. Winnie Nie has experience working across Asia, Africa and Latin America in corporate financing. Olivia Wang is qualified in New York, and handles export credit projects for Chinese banks. Qiyu Lu has expertise in syndicated, bilateral, secured and unsecured facilities both domestically and cross-border.

Responsables de la pratique:

Kanyi Lui


Autres avocats clés:

Winnie Nie; Olivia Wang; Qiyu Lu


Principaux clients

International Finance Corporation (IFC)


PetroVietnam Power


Asian Development Bank (ADB)


DAI Global


Principaux dossiers


  • Advising International Finance Corporation (IFC) on the restructuring and financing of the Thanaleng Dry Port (TDP) in Laos for IFC.
  • Advising PetroVietnam Power, a Vietnamese state-owned enterprise, on the Export Credit Agency backed project financing of the Nhon Trach 3 & 4 LNG to Power project in Vietnam.
  • Advising and representing the ADB and local Filipino lenders on the restructuring of the existing project finance debt of GMR Megawide Cebu Airport Corporation for the development of the multi-awarded Mactan-Cebu International Airport in the Philippines.

DLA Piper

Specialising in energy-related transactions, the DLA Piper banking and finance practice in Hong Kong is sought after for ESG linked financing and green lending. It also offers specialist expertise in fintech and digital forms of financing in the telecom and media industries. Matthias Schemuth, Paul Lee, and Trinh Hoang co-head the team, Schemuth offering Asia-wide experience and working between Singapore and Hong Kong, while Lee is a go-to for acquisition finance and Hoang focuses on financing and restructuring of debt facilities.

Responsables de la pratique:

Paul Lee; Matthias Schemuth; Trinh Hoang


Autres avocats clés:

Naomi Hong; Tracy Wong


Principaux clients

Bank of China (Hong Kong) Limited


CMB Wing Lung Bank Limited


Asian Development Bank


Natixis Investment Managers International Hong Kong Limited, Sunlife Insurance and Fubon Bank


DZ Bank AG


Banco Bilbao Vizcaya Argentaria, S.A. (BBVA)


Rabobank


Sumitomo Mitsui Trust Bank


UOB


Hutchison/CKH Holdings


UniCredit


Digital Edge


DBS Bank (Hong Kong) Limited


Societe Generale


Australia and New Zealand Banking Group Limited


Mashreqbank PSC


DZ Bank


Principaux dossiers


  • Advised Bank of China (Hong Kong) Limited as agent and lender and five (5) other lenders on an up to CNH2,630,000,000 transferable syndicated term loan facility to ND Paper Malaysia (Selangor) Sdn. Bhd. and guaranteed by Nine Dragons Paper (Holdings) Limited.
  • Advised CMB Wing Lung Bank Limited as facility agent and lender and two (2) other lenders (Bank of Dongguan Co., Ltd. – Hong Kong Branch and China Everbright Bank Co., Ltd., Hong Kong Branch) on an up to US$200,000,000 syndicated term loan facility to China Datang Overseas (Hong Kong) Co., Limited.
  • Acting for and advising Mashreq Bank PSC, Hong Kong branch on its trade, revolving and letter of credit faciltiies of up to US$100 million to COFCO, a large PRC SOE and its European subsidaries.

Hogan Lovells International LLP

Hogan Lovells International LLP's banking and finance team has a 'deep bench and can move quickly', regularly supporting clients in highly regulated sectors including automotive, energy, financial institutions, life sciences, media and telecoms, and technology. It has specialist experience advising fund and distressed investors. Owen Chan, Hong Kong-based team head, focuses on cross-border acquisition finance. In Shanghai, Shantay Cong is the key contact; her practice combines international experience with PRC law capabilities, with particular experience of structured finance and restructuring.

Responsables de la pratique:

Owen Chan


Autres avocats clés:

Shantay Cong; Jenny Yim


Les références

‘Talents of different nationalities respect cultural differences and can better provide comprehensive legal services to clients from all over the world.’

‘Very knowledgeable, responsive and practical. Deep bench and can move quickly. Our go-to finance counsel.’

‘Jenny Yim is pragmatic and a pleasure to work with.’

Principaux clients

The Adhoc Group of Bondholders and Madison Pacific Trust Limited


Oaktree Capital Management


Principaux dossiers


  • Advised MPTL who were instructed by an ad-hoc group of noteholders (“AHG”) in commencing an action against Yestar Healthcare Holdings Company Limited (“Yestar”), a company listed on The Stock Exchange of Hong Kong for breaches and anticipatory breaches of an indenture (governed by New York law) pursuant to which US$197,864,523 9.5% Singapore listed senior notes were issued by Yestar.
  • Advising Oaktree in relation to a secured senior term loan facility over HK$7.6 billion (approximately US$950 million) extended to GT for the purpose of refinancing in order to complete the construction of Grand Homm, a luxury development in Ho Man Tin.

Kirkland & Ellis International LLP

Kirkland & Ellis International LLP‘s banking and finance team is sought after by private equity sponsors, credit funds, and strategic corporate investors; its focus is on acting on the debtor side and on complex, sponsor-led deals. Team co-head Jacqueline Zheng, in Hong Kong, acts on both onshore and offshore acquisition deals in Greater China. Manas Chandrashekar, co-head, has a practice emphasising acquisition and leveraged financings, including in India and Southeast Asia. Sean Zhang is the key contact in Shanghai, promoted to partner in October 2023.

Responsables de la pratique:

Manas Chandrashekar; Jacqueline Zheng


Autres avocats clés:

Karen Ho; Sean Zhang


Principaux clients

Bain Capital Private Equity


KKR


The Carlyle Group


Advent International


EQT


Quadria Capital


PAG


Kedaara Capital


Warburg Pincus


Affiliates of LOGOS Property


Platinum Equity


Apax


Blackstone


Principaux dossiers


  • Advising a buyer consortium led by Bain Capital as transaction counsel to certain affiliates of Bain Capital on the US$3.16 billion take-private of Chindata Group Holdings Limited
  • Advising Bain Capital Private Equity in its equity investment in EcoCeres, Inc., an Asia-based innovative biorefinery company with world-leading R&D capabilities.
  • Advising EQT on the debt financing for its approximately US$1.25 billion acquisition of Florida based sports education institution, IMG Academy, representing a first-of-a-kind transaction where an Asian bank financing was used to fund a U.S. acquisition with no immediate nexus to Asia.

Stephenson Harwood

The ‘responsive, experienced and helpful‘ banking and finance team at Stephenson Harwood provides a comprehensive service covering acquisition finance, leveraged finance, real estate finance, bilateral and syndicated lending, and derivatives. Its asset finance expertise includes ship and aviation finance. Katherine Liu heads the practice group from Hong Kong, bringing experience of personal data laws and technology matters. Also in Hong Kong, Elton Chan ‘is a very experienced banking and finance lawyer‘, acting for bot lenders and borrowers in corporate lending matters.

Responsables de la pratique:

Katherine Liu


Autres avocats clés:

Elton Chan; Janice Yau Garton; Anna Kwong; Teresa Tsoi


Les références

‘Stephenson Harwood’s banking and finance team is responsive, experienced and helpful.’

‘Mr. Elton Chan of Stephenson Harwood is a very experienced banking and finance lawyer. Mr. Chan and his team are always friendly and helpful. ’

‘The Stephenson Harwood team was happy to communicate with us about the legal documents that arose in the project. In addition to written responses, telephone answers were always very timely.’

Principaux clients

Airstar Bank Limited


Airwallex (Hong Kong) Limited


Ant Bank (Hong Kong) Limited


Ant Group Co., Ltd.


Bank of Communications Co., Ltd


Bank SinoPac Co., Ltd.


BNP Paribas


China Construction Bank


China Development Bank


China Minsheng Bank


CIB Leasing


Cinda Leasing


Credit Suisse


CTBC Bank Co., Ltd.


Futu Lending Limited


Futu Securities International (Hong Kong) Limited


Haitong Leasing


HKT Flexi Limited


HSBC


ICBC Financial Leasing Co., Ltd.


JPMorgan Chase


Oversea-Chinese Banking Corporation, Limited


OCBC Bank (Hong Kong) Limited


PrimeCredit Limited


Raiffeisen Bank International


Shanghai Pudong Development Bank


Standard Chartered Bank


Svenska Handelsbanken AB (publ)


The Export-Import Bank of China


United Overseas Bank Limited


WeLend Limited


Wells Fargo Bank


Principaux dossiers


  • Advised various PRC banks on PRC onshore and offshore loans backed by onshore guarantees, which are major products offered by many PRC banks in Hong Kong.
  • Advised OCBC Bank (Hong Kong) Limited on its HK$211 million refinancing of Weave-Living – Mid-Levels.

Latham & Watkins LLP

Latham & Watkins LLP‘s finance team has experience of complex acquisition financing transactions, syndicated loans, and leveraged lending. Andrew Bishop heads the team from Hong Kong and Singapore, advising private equity funds, venture funds, credit funds and strategic investors. Howard Lam, in Hong Kong, leads leveraged financing transactions, while Ruonan Duan primarily represents private equity sponsors and corporates.

Responsables de la pratique:

Andrew Bishop


Autres avocats clés:

Howard Lam; Lynsey Edgar; Ruonan Duan


Principaux clients

Global Infrastructure Partners (GIP)


IKS Health


CVC


I Squared Capital


Goldman Sachs Asset Management


KKR


Principaux dossiers


  • Advised Global Infrastructure Partners (GIP) on a term loan facility in connection with GIP’s acquisition of Tower Vision India Private Limited. This was GIP’s first debt financing in Asia outside India.
  • Advised IKS Health, a premier global healthcare solution provider, on a financing for the acquisition of AQuity Holdings, a leading tech-enabled provider of medical transcription, coding and scribing services in the healthcare sector.
  • Advised CVC Asia Pacific on the acquisition of a majority stake in Professional Services, Inc., a Philippines-based network of private hospitals and clinics.

Mayer Brown

Mayer Brown‘s banking and finance team is headed by Richard Stock from Hong Kong, an aviation specialist with extensive experience of secured debt financings. The team additionally handles real estate finance matters, alongside leveraged and acquisition finance, bilateral and syndicated loans, fund finance and project finance. Doos Choi, in the Singapore office, is a go-to in the regional fund financing market.

Responsables de la pratique:

Richard Stock


Autres avocats clés:

Doos Choi


Principaux dossiers


Simpson Thacher & Bartlett LLP

Simpson Thacher & Bartlett LLP handles pan-Asia financing matters from its bases in Hong Kong and Tokyo, with notable experience of sustainability-linked loans. Makiko Harunari heads the team from Hong Kong, focusing on cross-border financing transactions and often working with a range of financial sponsors, corporate borrowers, and financial institutions. She advises on the financing aspects of the formation of pan-Asia funds, and fund subscription facilities.

Responsables de la pratique:

Makiko Harunari


Principaux clients

KKR & Co. Inc.


The Blackstone Group


Primavera Capital Group


Principaux dossiers


Skadden, Arps, Slate, Meagher & Flom LLP

With a focus on borrower-side work, the Skadden, Arps, Slate, Meagher & Flom LLP team works alongside its corporate and M&A colleagues to support acquisitions deals and margin loans. Rosanna Passmore heads the team from Hong Kong, advising bank, promoters, and corporate borrowers on bridge loans, leverage financing, and working capital loans. John Hartley retired in January 2024.

Responsables de la pratique:

Rosanna Passmore


Principaux clients

L’Occitane International SA


Convera Group


NaaS Technology Inc.


SharkNinja, Inc.


Principaux dossiers