JunHe Advised SinoPac on m88 bonus Establishment of a Bank Consortium and assisted Morgan Stanley to Complete Project Financing for m88 bonus M&A of an Orthopedic Hospital and Medical Device Company

At m88 bonus beginning of 2022, Morgan Stanley proposed to acquire an influential commercial medical group in China (m88 bonus "Target Company") by way of a transfer of equity interests. m88 bonus Target Company owns more than a dozen orthopedic hospitals and medical device companies in China with advanced medical technology, and it has a prominent position in m88 bonus domestic market.

To advance m88 bonus acquisition of m88 bonus Target Company, Morgan Stanley applied for a foreign debts loan and a domestic M&A loan respectively through its WFOE in China. A bank consortium established by SinoPac Company Limited and Bank of SinoPac (China) Ltd. provided credit facilities through domestic and overseas linkage.

In this Project, JunHe acted as m88 bonus Chinese legal advisor of m88 bonus overseas bank consortium. m88 bonus domestic loan bank established by Bank of SinoPac advised m88 bonus banks on m88 bonus credit approval conditions and m88 bonus cross-border financing security structure. JunHe was responsible for m88 bonus drafting of m88 bonus domestic transaction documents, issued Chinese legal opinions and assisted in m88 bonus completion of m88 bonus security registration. m88 bonusy implemented m88 bonus relevant conditions precedent to m88 bonus drawdown and provided om88 bonusr legal services.

m88 bonus financing structure of this Project was innovative and had a complex transaction process, as follows:

I. To ensure m88 bonus timely completion of m88 bonus acquisition conditions and m88 bonus effective guarantee of m88 bonus loan funds, JunHe designed a special fund supervision arrangement for m88 bonus M&A of Morgan Stanley and m88 bonus funds managed by it. This ensured m88 bonus smooth progress of m88 bonus closing of m88 bonus acquisition while protecting m88 bonus interests of m88 bonus lenders both domestically and abroad.

II. m88 bonus acquisition had an urgent closing timeline and m88 bonus Target Company had numerous holding subsidiaries. Its original investor structure was complex and before m88 bonus granting of m88 bonus M&A loan, JunHe needed to sort out m88 bonus company qualifications, m88 bonus medical operation qualifications and m88 bonus business model of m88 bonus Target Company and its holding subsidiaries. This was done within a very limited timeframe and involved more than a dozen holding subsidiaries engaged in a variety of medical services, medical machinery production and commercial medical advertising. m88 bonusse challenges would directly affect m88 bonus compliance operation of m88 bonus Project, m88 bonus composition of revenue and m88 bonus stability of m88 bonus future operating flow.

III. m88 bonus financing of m88 bonus acquisition involved security arrangements such as an equity pledge and an account pledge. m88 bonus Target Company and its holding subsidiaries are located in Shanghai, Shandong, Shaanxi and om88 bonusr cities and regions. In a relatively short period of time, JunHe efficiently communicated and coordinated with m88 bonus Shanghai Municipal Administration of Foreign Exchange, m88 bonus local administration for market regulation and m88 bonus om88 bonusr relevant authorities, and designed a set of efficient and feasible security schemes according to m88 bonus different requirements of m88 bonus local policies. JunHe’s team actively participated in m88 bonus coordination and m88 bonus improvement of m88 bonus security procedures to ensure that m88 bonus financing could be achieved within a tight schedule.

m88 bonus leading partner for this Project was LU, Juyi.