Appleby advises HSBC on USD 2.3 billion swap facility merger

6 October2017


Leading offshore law firm Appleby advised HSBC on the Cayman law aspects of a USD 2.3 billion merger of swap facilities. The merger was provided to a significant sovereign wealth fund, with security taken over a basket of interests in Cayman closed- and open-ended funds.

The Appleby team was led by Hong Kong-based Partners Nicholas Davies and Maggie Kwok, with assistance from Robert Sit and Quinton Tse. Allen & Overy acted as English counsel to the bank.

Speaking on the transaction, Nicholas commented: “We are delighted to have had the opportunity to advise HSBC on this noteworthy transaction. The scope and complexity of the advice required played to the strengths and experience of our integrated Asia funds, finance and investment services team, which provides Cayman, BVI and Bermuda advice to our Asia-based clients directly from Hong Kong.”

Appleby’s Hong Kong office addresses the needs of an expanding client base in the Asia Pacific region, particularly Asian sourced offshore companies listed on the Hong Kong, United States (NASDAQ and New York), Singapore and other internationally recognised stock exchanges. Its lawyers provide a wide range of corporate transactions and commercial advice on the law of Bermuda, British Virgin Islands, the Cayman Islands, including the establishment of investment funds, special purpose vehicles and structured finance products, insurance companies and insurance products, securitisation, financing transactions and public and private holding companies.


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