Mayer Brown JSM advised IFC Development Ltd (IFC Development) in a HK$10 billion three-year syndicated term loan facility to IFC Development Corporate Finance Ltd, the law firm announced. The facility is one of the largest Hong Kong dollar corporate syndicated loans raised recently. It was supported by a consortium of 17 leading international and local financial institutions including Bank of China, Bank of Tokyo-Mitsubishi UFJ and HSBC. The facility will partially refinance the HK$17.35b term loan facility of IFC Development in 2007.
“We are delighted to be involved with this transaction,” said Francis Chen, partner of Mayer Brown JSM with broad experience in credit facility transactions. “The successful signing of this facility shows that there is still appetite in the market for quality borrowers despite the challenging wider environment.”
The Mayer Brown JSM team was led by Chen. Mayer Brown JSM has acted for IFC Development and its shareholders in other previous transactions, notably including the development project of Hong Kong Station.
