David Li | White & Case LLP International Law Firm, Global Law Practice
David Li
David Li

David Li

Partner, Beijing

T +86 10 5912 9789

T +86 10 5912 9600

E dli@whitecase.com

in LinkedIn profile

“David Li ‘thinks very, very commercially… He provides valuable advice and creative financing solutions’.”

Chambers Asia-Pacific 2014

Overview

Focusing primarily on inbound and outbound financing transactions in China, David Li has earned commendations and awards for a number of his deals.

He advises companies and financial institutions on public and private straight, equity-linked, high-yield, bilateral, club and syndicated debt financings in the Chinese real - estate, retail, clean energy, utilities, manufacturing and natural resources sectors.

David helps clients to structure, navigate and execute highly complex and bespoke event-driven equity and debt transactions, including PIPE (Private Investment in Public Equity) financings. He also provides guidance on single and multi-source finance for infrastructure and project developments, as well as for export credit and other trade-related financings.

Bars and Courts

  • Solicitor of England and Wales
  • Supreme Court of Singapore

Education

  • LLB, (Honors), National University of Singapore

Languages

  • English
  • Mandarin

Experience

Private equity exit from Chinese O2O VIE education services provider, 2016

Advised Ophir Asset Holding Ltd, wholly owned by Asian-focused private equity fund, RRJ Capital Master Fund II, L.P., on the US$193 million exit of its equity interest in Tsingda eEDU Group, a Chinese O2O education services provider operating under VIE arrangements to Zhongrong International Trust and other new investors.

Financing for US$1.84 billion acquisition of US insurer, 2015

Advised Agricultural Bank of China, Industrial and Commercial Bank of China, Bank of China and Bank of Communications as mandated lead arrangers and lenders on a US$1.2 billion syndicated senior secured term facility for Mettlesome Investments (Cayman) II Limited, wholly-owned by Fosun International, in connection with its take private acquisition of US specialty commercial property and casualty insurer, Ironshore Inc.

Financing for €1.29 billion acquisition of Europe's second largest hotel chain, 2015

Advised Industrial and Commercial Bank of China, Bank of China, HSBC, Standard Chartered Bank, BNP Paribas, Société Générale and Crédit Agricole as mandated lead arrangers, and a group of Chinese and international lenders and issuing banks on an aggregate €1.29 billion syndicated senior secured term facilities for Sailing Investment Co, S.à r.l, wholly-owned by Shanghai Jinjiang International Hotels Development in connection with its acquisition of Europe's second largest hotel chain, Groupe de Louvre (Louvre Hotels Group), from Starwood Capital. The deal received "Honorable Mention" in the ASIAN-MENA COUNSEL's Deals of the Year 2015 Report.

Financing for €I billion acquisition of Portuguese insurance assets, 2014

Advised Industrial and Commercial Bank of China and Bank of China on a €550 million syndicated senior secured term facility for Fosun International's majority acquisition of approximately €1 billion insurance assets of Portuguese state-owned Caixa Geral de Depositos. This was one of the largest acquisitions by a Chinese non-state owned entity and Fosun's largest acquisition outside China. The transaction was awarded "Deal of the Year" for 2014 by China Business Law Journal.

Bank and bond financings and liability management transactions for Greentown China

Advised Greentown China, a luxury residential property developer in China listed on the Hong Kong Stock Exchange, on its all cash tender offer and consent solicitation in respect of its US$400 million 9% Senior Notes Due 2013 (nominated for "Debt Market Deal of the Year" at the ALB China Law Awards 2010); US$850 million in aggregate of bank facilities; its debut Regulation S offering of RMB2.5 billion 5.625% Senior Notes due 2016; its Regulation S offering of US$400 million 8.5% Senior Notes due 2018 (and a subsequent tap offering of US$300 million); its Regulation S offering of US$300 million 8.0% Senior Notes due 2019 (and a subsequent structured tap issuance of US$200 million); its debut Regulation S offering of US$500 million subordinated perpetual capital securities callable 2019; and consent solicitation in respect of its RMB-denominated Senior Notes due 2016 and US$-denominated Senior Notes due 2018 and 2019 and concurrent offer to exchange the US$-denominated Senior Notes for US$500 million 5.875% Senior Notes due 2020, which won a 2015 "Triple A Regional Deal Award for Best Liability Management" from The Asset and 2016 "Debt and Equity-Linked Deal of the Year" from China Law & Practice.

China Outbound Deal of the Year, 2013

Advised China Development Bank on an aggregate €853.5 million senior secured term facilities for Weichai Power to finance strategic and pre-IPO investments in the KION Group, and the spin-off acquisition of Linde Hydraulics. This transaction was named "China Outbound Deal of the Year" at the China Law & Practice Awards 2013.

Hydropower financing in China, 2013

Advised International Finance Corporation (IFC) on its US$25 million Series C preferred share investment in the offshore holding company of Shenzhen Zhaoheng Hydropower. He also advised on US$50 million in A loans to its onshore subsidiaries to finance the construction and operation of small-to-medium-sized hydropower plants in China. IFC's investment is part of an aggregate US$300 million private equity investment by Morgan Stanley Infrastructure Partners, FountainVest Partners, Olympus Capital Holdings Asia and others. It is the largest private investment made in the renewable energy and hydropower sectors in China to date. In 2013, the transaction was awarded "Asia Pacific Hydro Deal of the Year" by Project Finance Magazine.

Awards & Recognition

Projects and Infrastructure (International Firms) – China, Chambers Asia-Pacific 2015, Chambers Global 2015