Sidley represented China Oil and Gas Group Limited (China Oil and Gas Group) on the successful closing of its US$300 million sustainability-linked term loan facility, funded by eight international banks and arranged by China CITIC Bank International Limited and Ping An Bank Co., Ltd. as joint mandated lead arrangers, bookrunners, and underwriters.
The successful closing of the facility marked a significant milestone for China Oil and Gas Group, demonstrating its ability to secure long-term substantial financing for its strategic initiatives while aligning with environmental and social goals. The facility’s design, which integrated sustainability performance targets and KPIs for greenhouse gas emissions and employee training programs, highlighted China Oil and Gas Group’s dedication to environmental and social responsibility outside and within the organization.
The successful collaboration with the banks not only further solidified China Oil and Gas Group’s position in the market, but also demonstrated the banks’ support for sustainable business practices.
China Oil and Gas Group Limited is a renowned natural gas and energy providing company in China, engaging in, among other activities, the exploitation and production of crude oil and natural gas, the construction of transmission pipelines, and the distribution and sales of natural gas services.
The Sidley team was led by partners Matthew Sheridan, Renee Xiong (Capital Markets), and Olivia Ngan (China Corporate and Finance). Other team members included senior managing associate Jacob Zhao, associate Sammi Lee, managing associate Kelly Lam, and legal manager Kelly Kan.
Sidley has, for decades, pioneered the development of innovative financial instruments for the world’s financial markets, and that reputation for innovation extends to the Asia Pacific region. The team has been recognized as “Leading Firm: Banking and Finance in Hong Kong” by The Legal 500 Asia Pacific 2023 and 2024, “Firm of the Year: Banking and Finance” at the China Business Law Awards 2023, and is ranked one of the top legal advisors in Debtwire’s Asia Pacific Loan League Table 2021 - 2023 Q3. The team has received a number of accolades by independent organizations including The Asset, and IFLR Asia-Pacific Awards.
