East Asia - Hong Kong

Sidley Austin

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Sidley Austin's involvement for Chinese real estate issuers in many of the highest-profile offshore high-yield offerings in recent years has subsequently led to a considerable amount of restructuring and liability management exercises as that sector has been impacted by a raft of economic headwinds. The ‘phenomenal’ Renee Xiong has been at the heart of much of this work, including acting alongside the firm’s acclaimed London restructuring team on a number of distressed situations. As well as also being involved in a number of real estate-related restructuring/liability management scenarios, Carrie Li has also handled new bond issuances in other sectors, including her work for the lead managers in relation to China Cinda Asset Management’s issuance of FTZ bonds. Singapore based Matthew Sheridan heads up the overarching Asia capital markets offering.

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

  • ‘The team continues to be well known for its strength in the China property market.'

  • 'Renee Xiong is perhaps the best legal adviser on debt issues for China real estate.'

  • 'The team has rich experience in the real estate industry and provides practical advice on our deal dynamics.'

  • ‘It is phenomenal that Renee Xiong is able to keep on top of all her transactions given the volume of deals she has. She really has her clients' interests close to heart and no wonder her clients are very loyal.’

Key clients

  • ABC International
  • Bank of Communications
  • BOC International
  • China Construction Bank
  • Central China Real Estate Limited
  • China Fortune Land Development Co., Ltd
  • China Water Affairs Group Limited
  • Cinda International
  • Country Garden Holdings Company Limited
  • Goldman Sachs (Asia) L.L.C.
  • Guangdong - Hong Kong Greater Bay Area Holdings Limited
  • Guangzhou R&F Properties Co., Ltd.
  • KWG Group Holdings Limited
  • Logan Group Company Limited
  • Modern Land (China) Co., Limited
  • Powerlong Real Estate Holdings Limited
  • Redco Properties Group Limited
  • RiseSun Real Estate Development Co., Ltd.
  • Shanghai Fosun High Technology (Group) Co., Ltd
  • Shimao Services Holdings Limited
  • The Export-Import Bank of China
  • Xinchang County Transportation Investment Group Company Limited
  • Zhenro Properties Group Limited
  • Zhongliang Holdings Group Company Limited

Work highlights

  • Represented China Fortune Land Development Co. in the restructuring of its $4.96bn offshore debt by way of English scheme of arrangement.
  • Represented Modern Land (China) Co. in the restructuring of its $1.34bn offshore dollar-denominated notes.
  • Represented ABC International, Bank of Communications, BOC International, China Construction Bank, Cinda International as Joint Lead Managers in connection with China Cinda (2020) I Management Limited’s offering of CNY1.5bn 3.7% FTZ bonds due 2026 guaranteed by China Cinda (HK) Holdings Company Limited, pursuant to Regulation S.

Lawyers

Leading individuals

Practice head

The lawyer(s) leading their teams.

Matthew Sheridan

Other key lawyers

Carrie Li, Renee Xiong, Oliver Zhong