Appleby advises ad hoc group of noteholders on China SCE’s US$2.3 billion debt restructuring
Appleby acted as British Virgin Islands legal counsel to the ad hoc group of offshore noteholders in connection with the successful restructuring of US$2.3 billion of offshore debt of China SCE Group Holdings Limited (China SCE), a Hong Kong-listed Chinese real estate group.
The restructuring successfully closed on 23 October 2026, following the sanction of a scheme of arrangement by the Hong Kong Court. Under the terms of the restructuring, China SCE’s existing offshore debt was exchanged for a combination of upfront cash, new notes, mandatory convertible bonds and shares issued by China SCE.
The Appleby team was led by Asia Managing Partner David Bulley, with support from Hong Kong Senior Associate Angelina Wong.
This deal further highlights Appleby’s strength in complex cross‑border restructuring and finance transactions, and the market‑leading capabilities of its Corporate and Restructuring team.
More information about the transaction is available here: https://www1.hkexnews.hk/listedco/listconews/sehk/2026/1027/2026102700868.pdf.
