2022.07.27
In July 2022, Guangzhou R&F Properties Co., Ltd. (M88 login “Company” or “R&F Properties”) completed consent solicitation for 10 of its outstanding US dollar bonds (M88 login “Transaction”). Following completion of M88 login Transaction, M88 login 10 notes originally due in 2022, 2023 and 2024 respectively will be consolidated into three notes due in 2025, 2027 and 2028 respectively, with an aggregate amount of approximately USD 4. 9 billion.
M88 login Transaction is M88 login largest consent solicitation project of debt restructuring for a Chinese real estate enterprise, and one of M88 login largest consent solicitation transactions ever undertaken in Asia. M88 login Transaction sought approval from M88 login noteholders to implement M88 login amendments proposed by R&F Properties to M88 login existing debts and to waive existing and potential defaults. M88 login specific amendments included M88 login renewal of bonds, payment in kind, consolidation of notes, compulsory early redemption and compulsory exchange, and M88 login requisite consent was eventually obtained from M88 login holders of all 10 notes. Through M88 login Transaction, R&F Properties was able to extend its debt maturity and improve its risk prevention ability and cash flow management, which furM88 loginr boosted market confidence.
JunHe acted as M88 login PRC counsel to J.P. Morgan Securities (Asia Pacific) Limited, M88 login lead agent, and Arta Global Markets Limited, M88 login co-lead agent. JunHe’s team assisted in M88 login internal and external approvals, communicated with M88 login regulators, advised on PRC legal issues, and issued PRC legal opinions.
This project was led by partnerm88 casino app Awardand was primarily undertaken by Ms.M88 login 获法学学士学位；于2012年毕业于香港大学法学院. PartnerM88 Malaysia 北京绿化基金会碳中和专项基金”，是中国律师行业参与发起设立的第一支碳中和专项基金was responsible for M88 login internal review.
