Mainland China

ADB and AIIB's social loan

Advised Asian Development Bank (ADB) and Asian Infrastructure Investment Bank (AIIB) on the US$200 million financing to China Education Group Holdings and Yantai Institute of Science and Technology. The transaction was just awarded the Best Social Loan Deal of the Year by The Asset Triple A Sustainable Finance Awards 2025.

Advent's acquisition of Serta China

Advised Advent International on its acquisition, consolidation and subsequent sale of Serta China, a leading mattress business in China.

Ant Financial's US$10 billion financing

• Advised the mandated lead arrangers and bookrunners on the amendment and extension of the 2017 facilities and concurrent upsize to an aggregate US$6.5 billion senior secured revolving credit facilities for Alipay (Hong Kong) Holding Limited, in 2019.
• Advised the mandated lead arrangers and bookrunners on a US$3.5 billion senior secured term and revolving loan financing to Alipay (Hong Kong) Holding Limited, in 2017. The proceeds of the facilities were made available for, among other things, Alipay's intended take-private acquisition of MoneyGram International Inc. and other investments.

Aramco (Saudi Aramco)'s China JV and acquisition of minority interest in Rongsheng Petrochemical

Advised Saudi Aramco, on its:

• heads of agreement with China Petroleum & Chemical Corporation (Sinopec) to build a refinery and petrochemical project in Gulei in China's southeastern Fujian Province. The greenfield project comprises a 16 million metric tonne per year (320,000 barrels per day) refining and petrochemical facility with a 1.5 million metric tonne per year ethylene unit. The project is expected to commence commercial operations in 2030.
• acquisition of a 10 percent interest in Shenzhen-listed Rongsheng Petrochemical Co. Ltd. for RMB24.6 billion (US$3.6 billion). Rongsheng owns a 51 percent stake in Zhejiang Petroleum and Chemical Co. Ltd. (ZPC), which in turn owns and operates the largest single refining and chemicals complex in China. The transaction won China M&A Deal of the Year by China Business Law Journal 2023.

Bank of Qingdao's blue loan

Advised International Finance Corporation (IFC), Asian Development Bank (ADB), Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) and Société de Promotion et de Participation pour la Coopération Economique (Proparco) on a US$150 million syndicated blue loan for Bank of Qingdao, one of the first blue loans in Asia and globally.

Bright Scholar's acquisition of CATS Colleges Holdings Limited

Advised Bright Scholar, the largest operator of international and bilingual K-12 schools in China in its GBP150 million acquisition of the entire equity interest in CATS Colleges Holdings Limited, an international school network with a platform of campuses located across the UK, the US, Canada, and China.

CAA China LLC's acquisition of Momentum Sports

Advised CAA China LLC, a joint venture subsidiary of CAA, in the acquisition of Momentum Sports, a marketing, brand consulting and athlete representation company in the PRC.

CMOC (formerly China Molybdenum)'s PXF financing and bonds offering

Advised CMOC Group, a leading global diversified mining conglomerate in China dual-listed on the Shanghai and Hong Kong Stock Exchanges, on its:

• ground-breaking US$600 million bridge and five-year pre-export financing (PXF) arranged by China Construction Bank (Asia) Corporation Ltd. and provided by a syndicate consisting of People's Republic of China and international lenders. This is one of the first PXF transactions by a Chinese mining company and has one of the longest international PXF terms. The transaction was awarded "Deal of the Year" for 2022 by China Business Law Journal.
• debut Regulation S offering of unrated US$300 million 5.48% guaranteed bonds due 2022.

CNOOC Holdings USA's sale to INEOS

Advised CNOOC Energy Holdings USA. Inc., a wholly owned subsidiary of CNOOC Limited, on the sale of CNOOC Holdings USA Inc. to INEOS Energy. CNOOC Energy Holdings USA. Inc. will sell the equity interests in its subsidiaries owning the upstream oil and gas business located in the US Gulf of Mexico. The sale comprised non-operating interests in oil and gas projects, including the Appomattox and Stampede fields.

GDSI's series A and B equity raise

Advised DigitalLand Holdings Limited (GDS International), the international affiliate of China-based high-performance data center provider GDS Holdings Limited, on its US$ 587 million Series A and US$1 billion Series B equity raise. The transaction won China PE/VC Deal of the Year by China Business Law Journal 2024.

Greentown China's notes offering

Advised Greentown China Holdings Limited, a Chinese luxury real estate developer listed on the Hong Kong Stock Exchange, on its:

• issuance of US$500 million 8.45% senior guaranteed notes due in 2028 (the New Notes) and a concurrent offer to purchase its outstanding 4.7% senior notes due 2025 and 5.65% senior notes due 2025.
• global Regulation S offering of US$300 million 4.70% senior notes due 2025.
• (i) global Regulation S offering of US$300 million 5.65% senior notes due 2025, and (ii) tender offer for up to US$150 million of its US$600 million4.55% senior notes due 2020.
• 364-day Regulation S high yield notes offering of US$600 million 4.55% Senior Notes due 2020.

Haier's acquisition of GE Appliances and its social bonds offering

• Advised Haier Group, the Chinese consumer electronics manufacturer, in the US$5.4 billion acquisition of GE Appliances unit from GE through an auction process. This is one of the largest acquisitions of a US company by a Chinese entity to date. This transaction is named "Cross-Border Deal of the Year" and "M&A Deal of the Year" by M&A Advisor Awards, and "M&A Deal of the Year" by ALB China Law Awards.
• Advised IFC, Asian Infrastructure Investment Bank (AIIB) and Sumitomo Mitsui Banking Corporation (SMBC) on an investment of up to US$200 million in five-year social bonds issued by Haier Financial Services Co., Ltd., a first of its kind by a non-bank financial institution in China.

Huayou Cobalt's JV with Ford and Vale in Indonesia

Advised Zhejiang Huayou Cobalt on the joint venture with Ford Motor Company and PT Vale Indonesia Tbk to jointly invest in the Pomalaa Block High-Pressure Acid Leaching (HPAL) Project in Indonesia. This project will advance more sustainable nickel production and support an accelerated energy transition. The project also marks the first integrated joint venture between a leading Chinese mining company and a western automaker. The transaction won China Projects Deal of the Year by China Business Law Journal 2023.

Logan Group's restructuring of overseas debts

Advising Logan Group on the restructuring of overseas debts for the HK-listed, leading Chinese real estate developer Logan Group Company Limited. The restructuring will be implemented through complex multiple restructuring process.

Magna's acquisition of majority stake in HLZX Group

Advised Magna International Inc., a leading automotive manufacturer and supplier, on its acquisition of a majority stake in HLZX Group, a leading automotive seats supplier in China.

MGM China's notes offering

Advised the initial purchasers, in MGM China Holdings Limited's debut 144A/Regulation S debt issuance of senior notes in an aggregate amount of US$1.5 billion, comprising two tranches, a five-year tranche of US$750 million 5.375% senior notes due 2024 and a seven-year tranche of US$750 million 5.875% senior notes due 2026. The deal won the "Best Corporate Bond Deal of the Year" by The Asset Country Awards 2019.

MMG's acquisition of Anglo American's Brazilian nickel business

Advised MMG Limited on its entry into a definitive agreement to acquire Anglo American's nickel business in Brazil for cash consideration of up to US$500 million, marking MMG's first investment in Brazil and a significant expansion of its base metal commodity exposure in nickel.

Multinational mining company's compliance policy development

Conducting compliance risk assessment and developing a series of group-level compliance policies across a range of areas for a multinational mining company, including anticorruption, data compliance, export control and sanctions, environment, that covers China, Australia, Europe, U.S., Brazil, Democratic Republic of Congo.

Nestlé Waters's sale of mainland China water business to Tsingtao Brewery

Advised Nestlé Waters, the no.1 bottled water company worldwide, on the sale of its water business in the mainland China to Tsingtao Brewery Group Company Limited, China's second-largest beer maker. This transaction was awarded "Deal of the Year 2021" by China Business Law Journal and was shortlisted as the "M&A Deal of the Year" by China Law & Practice Awards 2021.

Refinancing for Jin Jiang International Holdings

Advised a syndicate banks on the €800 million multi-tranche refinancing for a consortium led by Jin Jiang International Holdings Co. The syndicate was led by Industrial and Commercial Bank of China ("ICBC") as sole global coordinator, ICBC, Bank of China and China Everbright Bank as mandated lead arrangers. The facilities refinanced the acquisition bridge facility provided by ICBC to support the consortium's acquisition of Radisson Hotel Group.

RRJ Capital's various acquisitions

Advised RRJ Capital, on its:

• recapitalization buy-out merger of Singapore-based Fullerton Healthcare Corporation Limited. This deal was shortlisted as "Loan Deal of the Year" and "Private Equity Deal of the Year" by IFLR Asia-Pacific Awards 2023.
• buyout acquisition and related acquisition financing of gategroup Holding AG from HNA Aviation (Hong Kong) Air Catering Holding Co., Limited.

Schneider Electric's investment in Star Charge

Advised Schneider Electric, a global player in energy management and automation, on its minority investment in Star Charge, a leading electric vehicle (EV) charging pole manufacturer and operator in China.

The acquisition financing for KKR's acquisition of NVC Lighting's China lighting business

Advised the mandated lead arrangers and arranger in respect of the RMB2.9 billion acquisition financing for KKR to support its acquisition of a majority interest in NVC Lighting's China lighting business. The deal won the "Finance Deal of the Year" at ALB Hong Kong Law Awards 2020.

The financing for one of China's largest mining companies

One of China's largest mining companies on the financing for the expansion of a copper-cobalt mine in sub-Sahara Africa.

The internal investigation of a Chinese company

Advised the audit committee of a Chinese company to conduct an internal investigation regarding whistleblower allegations during its IPO.

The internal investigation of a U.S. listed China-based air mobility company

Advised on an internal investigation on certain allegations regarding related party transactions and accounting irregularities.

The independent review of a U.S. listed China-based life science company

Advised on an independent review of certain issues regarding assessment of related party transactions.

The independent investigation of a U.S. listed China-based online commercial logistics platform

Advised on an independent investigation into certain allegations raised by a short seller report regarding alleged inflation of financial data through alleged schemes and suspicious investment and acquisition transactions.

The internal investigation of a U.S. listed China-based communication solution provider

Conducted an internal investigation into certain allegations regarding related party transactions and accounting irregularities.

The project financing for Shokpar wind farm

Advised EBRD, AIIB and ICBC in relation to the project financing for the construction and operation of the 100 MW Shokpar wind farm in Kazakhstan. Work includes conducting due diligence, advising on regulatory landscape, managing and addressing various complex issues with respect to renewable energy sources regulation.

The project financing for Zhanatas wind farm

Advised Asian Infrastructure Investment Bank (AIIB), European Bank for Reconstruction and Development (EBRD), Industrial and Commercial Bank of China Limited (ICBC) and the Green Climate Fund on the project financing for the construction and operation of the 100 MW Zhanatas wind farm in Kazakhstan. The transaction was awarded "Deal of the Year" for 2021 by China Business Law Journal, and the "Projects & Energy Deal of the Year" by The In-House Community.