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Allens acts for lenders on US$145 million syndicated loan

3 September 2009

International law firm Allens Arthur Robinson (Allens) acted for the lenders in the US$145 million syndicated loan to Right Lane Limited (Right Lane), the wholly-owned subsidiary of PRC entity Legend Group Holdings Limited (Legend Group).

The lenders include Natixis, Bank of East Asia, Wing Lung Bank, China Merchants Bank and Bank of China (Macau Branch).

Legend Group guaranteed the loan, which will be used to repay Right Lane's medium-term US private placement debt and existing facilities.

Allens Hong Kong-based Partner Matthew Barnard and Lawyer Justin Chin acted for the group of lenders.

According to Mr Barnard: 'Our experience in recent times with lender's current expectations of financing terms allowed us to offer a streamlined service.

'We were very pleased to be able to help all parties to the transaction, and in the time in which it was done.'

Ends

Allens legal team Matthew Barnard (Partner – Hong Kong), Justin Chin (Lawyer – Hong Kong)

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Notes for editors.

Allens Arthur Robinson has staff in 14 cities and eight countries across the Asia Pacific.