First ever renminbi syndicated loan for Hong Kong
December 14, 2010 | BY
clpstaff &clp articlesChina Automation Group (China Automation) has signed a multi-currency term loan facility agreement worth US$50 million with Hang Seng Bank and nine other…
China Automation Group (China Automation) has signed a multi-currency term loan facility agreement worth US$50 million with Hang Seng Bank and nine other banks. This is Hong Kong's first ever renminbi syndicated loan.
China Automation is one of China's largest railway signaling systems providers. Hang Seng Bank was the lead arranger on the transaction. The 3.5-year loan was oversubscribed and increased from its original target of US$40 million-equivalent.
Woo Kwan Lee & Lo represented China Automation, while Hang Seng Bank was advised by a Mayer Brown JSM team led by Allan Yu.
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