New Guidelines on Syndicated Loans in the PRC
November 30, 2007 | BY
clpstaff &clp articlesThe new Guidelines standardize practices in China's nascent syndicated loan market. Updated areas include expanding the role of the agent, and making changes to the roles of the agent, lenders and borrower.
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By Brett W. King, partner, Paul, Hastings, Janofsky & Walker, Hong Kong office and Karen Tang, partner, Paul, Hastings, Janofsky & Walker, Shanghai office
On August 11 2007, the China Banking Regulatory Commission (CBRC) issued a Notice of the China Banking Regulatory Commission on Printing and Distributing the Guidelines for Syndicated Loan Business (the Guidelines), which regulate syndicated lending practices in the People's Republic of China (the PRC). The Guidelines update and supersede the Syndicated Loans Provisional Measures (the 1997 Regulations) issued by the People's Bank of China in 1997.