Excel Partners uses onshore assets to borrow foreign money

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Excel Partners China Fund recently managed to get onshore asset-secured loans for its overseas subsidiaries with an untypical arrangement, said a legal counsel involved.

Excel is an affiliate of Sabin Holdings, a global real estate platform headquartered in San Diego, California. A consortium of five leading international banks, led by Deutsche Bank, recently provided a US$175 million secured term loan to three Barbados subsidiaries of Excel.

梁世杰 SIMON LEUNG
梁世杰 SIMON LEUNG

Excel’s legal counsel was Baker McKenzie FenXun, the joint operation office established by Baker McKenzie and FenXun Partners in Shanghai Free Trade Zone. Simon Leung and Rico Chan, partners of Baker McKenzie in Hong Kong, and Hai Yong, a counsel of FenXun Partners in Beijing, led the legal team.

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