Paul Hastings adds 3 senior U.S. lawyers to deepen its leveraged finance and capital markets practice in Asia
Paul, Hastings, Janofsky & Walker (Paul Hastings) announces the appointment of three senior corporate finance lawyers - including one partner - in the firm’s Hong Kong office. All three lawyers join Paul Hastings’ expanding corporate finance team of U.S., U.K., Hong Kong, PRC and Japan qualified lawyers in Hong Kong, Beijing, Shanghai and Tokyo.
Brett King and Susan Thom, who join as partner and senior associate respectively, bring with them over 14 years’ of combined experience in acquisition and leveraged finance transactions in Asia, the U.S., Europe and South America.
For the last 7 years, Mr. King and Ms. Thom have led the field in acquisition and leveraged finance transactions in Asia, practicing together in the Hong Kong office of Milbank, Tweed, Hadley & McCloy. They have represented major financial institutions and strategic and financial sponsors in a variety of acquisition and structured M&A finance transactions, including some of the first leveraged buyouts (LBOs) to be successfully completed in Hong Kong, Singapore, Japan and Korea. (see below for details of key transactions).
David Grimm, who joins the group as of counsel, brings to Paul Hastings 15 years of experience in international capital markets and corporate finance, M&A and U.S. cross-border commercial transactions in New York, London and Hong Kong. Mr. Grimm has represented underwriters and issuers in debt and equity offerings, including high-yield debt offerings. His clients include major investment banks, public company issuers and other multi-national corporations and funds. He also has represented buyers and sellers in mergers and stock and asset acquisitions, as well as banks and borrowers in secured loan financings. Mr. Grimm’s prior experience includes practicing for eight years at Cravath, Swaine & Moore in New York and London.
Neil Torpey, a partner in Paul Hastings’ Hong Kong-based capital markets and M&A group, commented: “The addition of Brett, Susan and David shows Paul Hastings’ strong commitment to lead the leveraged finance and capital markets arenas in Asia. All three are highly talented, experienced lawyers who complement the strengths of our existing corporate finance team in allowing Paul Hastings to offer clients a unique one-stop-shop service in advising on complex M&A transactions involving private equity, leveraged finance, M&A and high yield debt.”
Paul, Hastings, Janofsky & Walker LLP, founded in 1951, is a global law firm with nearly 1000 lawyers located in 17 offices in Asia, Europe and the United States. In Greater China, Paul Hastings is among the largest international law firms with a broad range of practices and over 130 lawyers in Hong Kong, Beijing, Shanghai and Tokyo qualified to practice law in Hong Kong, China, Japan, Singapore, Australia, England & Wales and the United States.
LANDMARK LEVERAGED BUYOUT TRANSACTION IN ASIA
Mr. King and Ms. Thom advised on the following landmark leveraged buyouts (LBOs) to be successfully completed in Asia:
MANDO CORPORATION - Korea LBO - Represented the arrangers of financing in connection with the leveraged buyout and subsequent recapitalization of Mando Corporation, Korea’s largest auto parts manufacturer (2000-2005)
JINRO LTD. – Korea LBO - Represented the joint lead arrangers of a multicurrency facility to support a bid for 100% of the shares of Jinro Korea Ltd. (2005)
FILA – Korea LBO – Represented the joint coordinating arrangers and a syndicate of Korean and international lenders in connection with a structured credit facility provided to Fila Korea Limited, a distributor of athletic and casual apparel, footwear and accessories under the “FILA” and “FILA Sport” brand names. (2003)
SANDA KAN – Hong Kong/PRC LBO – Represented a consortium of private equity funds in connection with the acquisition of Sanda Kan Industrial (2000) Limited, the world’s largest manufacturer of model trains and related G, O, HO and N gage railroad supplies. (2004)
TOWER RECORDS – Japan LBO – Represented the lead arrangers in connection with a credit facility extended to finance the leveraged buyout of Tower Records KK, the Japanese retail operations of the Tower Records chain of music retail stores. (2003)
GLOBAL BEAUTY INTERNATIONAL – Hong Kong/Asia/Europe LBO. Represented the Mandated Lead Arranger of a credit facility extended to finance and subsequently recapitalize an Asian and European beauty, slimming and health care group of companies operating under a variety of brands. (2002 and 2004)
HAITAI CONFECTIONARY – Korea LBO Represented the joint coordinating arrangers of a credit facilities provided to finance the acquisition by a private equity consortium of the assets of Haitai Foods Products, Co., Ltd., a Korean confectionery, ice-cream and frozen foods company. (2002, 2004 and 2005)