Hong Kong (September 15, 2009) Paul, Hastings, Janofsky & Walker, a leading global law firm, announced today that it has advised China Everbright International Limited (China Everbright) in relation to a US$200 million loan facility provided by Asian Development Bank (ADB). The loan will be used to finance various waste-to-energy projects in various cities across China. It marks ADBs first private-sector municipal solid waste management project.
The project financing is in the form of a direct US$100 million A-loan and a complementary B-loan of up to US$100 million, funded by commercial lenders with ADB acting as lender of record. The loans will have a maturity of up to 10 years with a three year grace period.
Vivian Lam, a partner in the Hong Kong office of Paul Hastings, commented: We are delighted to have advised China Everbright on this deal, it further highlights the opportunities that exist in this area. The loan will enable China Everbright to make a significant contribution to clean energy production and is one of the first private-sector investors in waste-to-energy projects in China.
The Paul Hastings team was led by Raymond Li and Vivian Lam, assisted by Jenny Lau.
Paul, Hastings, Janofsky & Walker is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.