Frank Shu is a senior legal consultant in White & Case's Asia Debt Finance and Restructuring practice group, based in Shanghai. His main areas of practice include acquisition finance, structured finance, real estate acquisition and finance, and financial institutions restructuring.
Frank has substantial experience advising on the financing of privatizations of Chinese companies, large-scale cross-border real property acquisition and financing transactions as well as Sino-foreign joint development transactions in China. He also has experience in Chinese banking regulatory advice, mergers and acquisitions and project finance transactions.
He previously worked in White & Case's Hong Kong office for two years.
Acquisition finance for New Frontier Corporation
China Merchants Bank Co., Ltd. and Shanghai Pudong Development Bank as mandated lead arrangers on the RMB equivalent of US$300 million acquisition facility for New Frontier Corporation to support its acquisition of United Family Healthcare from TPG and Shanghai Fosun Pharmaceutical Group. New Frontier Corporation is a special purpose acquisition company (SPAC) sponsored by New Frontier Group in connection with the acquisition and following the closing, creates one of China's largest integrated health care services companies publicly listed on New York Stock Exchange. The debt financing is one of the first few PRC cross-border leverage financings denominated in RMB.
Acquisition financing for KKR Capital
Bank of China Limited Macau Brach as mandated lead arranger and bookrunner, Bank of China Limited Macau Branch and China Minsheng Banking Corp., Ltd., Shanghai Pilot Free Trade Zone Branch as mandated lead arrangers and ICBC International Finance Limited as arranger in respect of the RMB2.9 billion acquisition financing for KKR Capital Markets Asia Limited to support its acquisition of a majority interest in NVC Lighting's China lighting business.
A bridge loan finance
A global sponsor in a bridge loan finance for the acquisition and development of an Internet data center in Shanghai.
Radisson Group acquisition financing
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.
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.
Acquisition financing for a consortium
A group of Chinese banks on an aggregate US$2.63 billion secured term loan provided to a consortium led by Apex Technology Co., Ltd., PAG and Legend Capital Management Co., Ltd. to finance the acquisition of Lexmark International Inc., a US-headquartered company that manufactures laser printers and provides enterprise software. Apex Technology, headquartered in China, designs, manufactures and markets inkjet and laser cartridge components for remanufacturers and distributors and is the largest manufacturer and solution provider for the global aftermarket imaging supplies market. Lexmark was acquired for US$40.50 per share in all-cash transaction with an enterprise value of approximately US$4 billion. The banks included China CITIC Bank Corporation Limited, The Export-Import Bank of China and Bank of China Limited.
"Legal and Regulatory Issues for Structuring Private Sector and Non-sovereign Operations", January 21-22, 2011: (co-presenter)
Partnership – a Brand New Option for Foreign Investors Coming into China, The Lawyer, May, 2010
Rising Star – China, Bank and Finance: Foreign Firms, Legal 500 Asia Pacific 2020-2021