The transaction was structured into two layers, with the underlying funds contributed by a senior lender, GAW Capital Partners (GAW) and other junior lenders with PACM. Upper Genius Limited (UGL) is a newly established Special Purpose Vehicle which is jointly owned by PACM and GAW, which acted as the immediate lender to HNA. This transaction is unique in its senior-junior structure and the tailored mechanism to govern the lenders’ priorities and respective interests.

Appleby advised PACM on the financing from a BVI law perspective and assisted them throughout the transaction as offshore counsel. The transaction was led by Partner Fiona Chan and supported by Associate Karina Li.

Fiona Chan commented: “We are delighted to have advised PACM on this unique transaction which further cements the Appleby Hong Kong team’s reputation as specialists in loan financing transactions.”

Appleby’s Banking & Financial Services specialists advise banks and financial institutions, ship and aircraft owners, lessors and lessees, and joint venture and project developers. Appleby’s team has an extensive range of expertise and provides comprehensive, practical and commercially minded legal advice on all matters related to banking, international real estate, asset, project and other financing matters.

Share
Twitter LinkedIn Email Save as PDF
More Deals
6 Jul 2021 | Deals

Appleby’s Hong Kong office acts as Cayman and BVI counsel to Datang Group Holdings Limited on its issuance of USD300 million 12.50% senior notes due 2022

It was second time the Appleby team being instructed by Datang after advising on its HKD1.48 billion...

Contributors: Kaile Yang
24 May 2021 | Deals

Appleby advises Ascendent Capital Partners on the offshore aspects of multiple transactions

Appleby advises Ascendent Capital Partners on the offshore aspects of multiple transactions.