Sidley represented Adventure Success Limited (a subsidiary of Shimao Group Holdings Ltd) on the successful closing of (i) senior loan facilities of HK$10.3 billion (US$1.3 billion) to replace its original syndicated project loan facilities, and (ii) junior loan facilities of approximately HK$1.1 billion (US$140 million) and approximately HK$604 million (approximately US$77 million) to replace certain existing loans borrowed by other members of the Shimao group, both provided by United Overseas Bank Limited (as arranger). The deal has been named as “Deal of the Year 2022” by China Business Law Journal and shortlisted for “Deal of the Year: Loan” at the IFLR Asia-Pacific Awards 2023.
Shimao Group Holdings Ltd is one of China’s largest real estate developers. The transaction is to address financing for the ongoing construction one of Shimao group’s most valuable offshore real estate projects, the Hong Kong Kowloon Tai Wo Ping project.
Matthew Sheridan and Renee Xiong (Capital Markets), Olivia Ngan (China Corporate and Finance), led the team (in Hong Kong and Singapore) which included Constance Choy, Jifree Cader, Dhevine Chandrapala, Desmond Ang, AuYeung Hon, Winnie Mak, Bryan Lo, Sammi Lee, Gordon Cheng, Dennis Wu, Kelly Kan, and Daniel Wagner.
