David serves as the Executive Partner of the Beijing Office. Based in Beijing since 2006, David is ranked in both China Banking & Finance and China Projects & Infrastructure in Chambers Asia Pacific and Chambers Global.
Focusing primarily on China inbound and outbound financing transactions, David Li has earned commendations and awards for a number of his deals. He is described as "someone who is not only an excellent lawyer, but also has very good business sense" (Asia Pacific Legal 500, 2014) and "consistent, up-to-date and brings multi-dimensional thinking when putting the whole deal together" (Chambers Asia Pacific, 2015).
David advises companies and financial institutions on equity and debt financings in transactions involving a diverse spectrum of industries such as real-estate, retail, clean energy, utilities, manufacturing, education, telecommunications and natural resources. Clients come to David for his ability to structure, navigate and execute, with English and Chinese bilingual native language efficiency, highly complex and bespoke event driven equity and debt financing products ranging from public and private straight, equity-linked, high-yield, leveraged, PIPE and mezzanine financings, either on a bilateral, club or syndicated basis. David also provides guidance to clients on single and multi-sourced infrastructure and project development financings in emerging markets such as Africa and Latin America.
gategroup buyout, 2019
Advised RRJ Capital in connection with its buyout acquisition and related acquisition financing of gategroup Holding AG from HNA Aviation (Hong Kong) Air Catering Holding Co., Limited.
China Molybdenum debut bond offering, 2019
Advised China Molybdenum, a leading global diversified mining conglomerate in China dual-listed on the Shanghai and Hong Kong Stock Exchanges, on its debut Regulation S offering of unrated US$300 million 5.48% guaranteed bonds due 2022.
Radisson Group acquisition financing, 2019
Advised Industrial and Commercial Bank of China as bridge lender on €846 million acquisition facilities for Jin Jiang International Holdings Co. to support the acquisition of Radisson Group, one of the world’s largest hotel groups with seven distinctive hotel brands with more than 1,400 hotels in destinations around the world, from HNA Hotel Group.
Significant structured equity-linked debt investment in gategroup and Avolon, 2018
Advised RRJ Capital as lead investor on the private placement of senior secured guaranteed exchangeable bonds in HNA Aviation (Hong Kong) Air Catering Holding Co., Limited, the sole shareholder of gategroup Holding AG, an airline catering company, and Global Aviation Leasing Co., Ltd., the controlling shareholder of Avolon Holdings Limited, an aircraft leasing company.
Tenke DRC acquisition financing, 2017
Advised China Construction Bank Corporation as mandated lead arranger, bookrunner, agent and security agent on an aggregate US$700 million syndicated senior secured facilities for BHR Newwood Investment Management Limited and China Molybdenum Co., Ltd. to finance their acquisition from Lundin Corporation of its indirect minority equity interest in Tenke Fungurume Mining Complex, a world class copper and cobalt mine located in the Democratic Republic of Congo.
Lexmark acquisition financing, 2016
Advised China CITIC Bank as global coordinator, administrative agent and collateral agent and China CITIC Bank, China CITIC Bank International, The Export-Import Bank of China and Bank of China as joint mandated lead arrangers on an aggregate US$2.63 billion syndicated senior secured facilities for a consortium comprising Apex Technology, PAG and Legend Capital to finance the leveraged take private acquisition of Lexmark Inc.
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.
Ironshore acquisition financing, 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.
Louvre acquisition financing, 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 Shanghai Jinjiang International Hotels Development to finance 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.
Caixa Geral de Depositos acquisition financing, 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 various bank and bond (high yield and perpetual) financings and liability management transactions, including 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); its debut Regulation S offering of RMB2.5 billion 5.625% Senior Notes due 2016; 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, Banking & Finance: China-based (International Firms) and China, Projects & Infrastructure (International Firms), Chambers Asia Pacific 2018, Chambers Global 2018