Paul Hastings Advises China Everbright On US$200 Million Loan Facility to Finance Waste-to-Energy Projects in China
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.
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