Jincheng Tongda & Neal (JT&N) advised a major Chinese state-owned enterprise (SOE) in connection with bridge loans totaling around $2.4 billion and a syndicated loan of nearly $3.3 billion. These credit facilities provided liquidity for a large-scale mining project in Africa, a stellar joint-development effort under the Belt and Road Initiative.
JT&N advised these credit facilities throughout their life cycle, providing regulatory, transactional, and risk management support. The JT&N team, headed by Senior Partner Guohua (Annie) Wu, included Partner Yingnan (Jason) Li, Associate Shuang (Joanna) Guo, and Associate Zihao (Edward) Zhou.
In addition to Chinese commercial banks, participants in the bridge facilities included banks from France, Singapore, and Hong Kong. The bookrunners of the syndicated loan were two Chinese policy banks, while the syndicate members were overseas branches or subsidiaries of Chinese commercial banks.
Guohua Wu commented, “We are pleased to advise our client on this complex, hybrid financing package and to work closely with many international financial institutions towards successful closings. Transactions of this type show how JT&N has leveraged its talents to support our clients in their global business strategies.”