Paul Hastings Advises China Everbright on US$100 Million Facility from ADB
Hong Kong (January 12, 2012) - Paul Hastings, a leading global law firm, announced today that it advised China Everbright International Limited (China Everbright), a company whose shares are listed on the Hong Kong Stock Exchange, in relation to a B-loan of US$100 million (B-Loan). This loan is part of the US$200 million project financing provided by Asian Development Bank (ADB) to a wholly-owned subsidiary of China Everbright in 2009. The B-Loan is structured such that ADB is the lender of record with 6 commercial banks (including 3 Taiwanese banks) funding the loan as participants. Mizuho Corporate Bank, Ltd. and Hang Seng Bank Limited acted as participation arrangers.
The proceeds of the B-Loan will be used to finance waste-to-energy projects in various cities across China and marks ADBs first syndicated loan to a Chinese company since 2007. It also marks the first time a Taiwanese commercial bank has provided lending directly to a Chinese company.
In 2009, Paul Hastings advised China Everbright on the US$100 million A-loan disbursed solely by ADB to a wholly-owned subsidiary of China Everbright.
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