Sidley Austin
Client SatisfactionA ‘market leader in the PRC property sector’, Sidley Austin’s involvement for real estate companies on the Mainland on their primary issuances has now led to the team being very active on formal restructuring and liability management efforts, following well-publicized economic head winds impacting the sector. Combining ‘superb knowledge and experience in the context of market practice, with strong technical skills’, Renee Xiong and Carrie Li are pivotal to this work, at times forming a part of a multi-disciplinary, multi-office team with lawyers on the Mainland and London. The team has also handled some notable new issuances outside of the property sector, with Li recently advising The Export-Import Bank of China on its $1.5bn bond issuance, the first time in several years it has returned to the overseas debt capital market to issue bonds publicly. Splitting his time between Singapore and Hong Kong, Matthew Sheridan leads the overarching Asia capital markets offering.
Testimonials
Collated independently by Legal 500 research team.
- 'The firm has been the market leader in the PRC property sector in its practice. They have very in-depth understanding of latest development of the sector, and have been able to provide creative solutions to the company.'
- 'The team members are technically sound and possess up-to-date knowledge of market practices.'
- 'Renee Xiong and Carrie Li are very hands-on in representing their clients and you can tell that clients trust them a lot. They combine superb knowledge and experience in the context of market practice, with strong technical skills.'
- 'Renee Xiong is very technically sound, committed and is able to deliver a high-quality service.'
Key clients
- Central China Real Estate Limited
- China Cinda (2020) I Management Limited
- China CITIC Bank International Limited
- Ganglong China Property Group Limited
- Guangdong – Hong Kong Greater Bay Area Holdings Limited
- Guangzhou R&F Properties Co., Ltd.
- JY Grandmark Holdings Limited
- Modern Land (China) Co., Limited
- Nine Dragons Paper (Holdings) Limited
- Powerlong Real Estate Holdings Limited
- RiseSun Real Estate Development Co., Ltd.
- Sunac China Holdings Limited
- The Export-Import Bank of China
- Zensun Group Limited
- Zhongliang Holdings Group Company Limited
Work highlights
- Represented Sunac China Holdings Limited in connection with its offering of $1bn convertible bonds due 2032 and $2.75bn zero-coupon mandatory convertible bonds due 2028, as well as multiple series of notes with high-yield covenants through its offshore debt restructuring. These issuances are part of Sunac’s complex restructuring transaction implemented through a scheme of arrangement in Hong Kong.
- Represented Guangzhou R&F Properties Co. in connection with the consent solicitation with respect to the proposed amendments to its three series of US dollar-denominated notes (the Senior Notes) with an aggregated outstanding principal amount of approximately $5.7bn issued by its offshore subsidiary Easy Tactic Limited.
- Represented The Export-Import Bank of China in its offering of $1.5bn 3.875% notes due 2026 under the Export-Import Bank of China US$27 billion Medium-Term Note program. This is the first time in four years that the Export-Import Bank of China has returned to the overseas debt capital market to issue bonds publicly.
Lawyers
Practice head
The lawyer(s) leading their teams.
Matthew Sheridan