21 February, Hong Kong – Mayer Brown is pleased to announce that it has advised IFC Development Limited ("IFC Development") in a HK$10 billion 3-year syndicated term loan facility to IFC Development Corporate Finance Limited.\
The facility is one of the largest Hong Kong dollar corporate syndicated loans raised recently. It was supported by a consortium of 17 leading international and local financial institutions, including Bank of China, Bank of Tokyo-Mitsubishi UFJ, and HSBC. The facility will partially refinance the HK$17.35 billion term loan facility of IFC Development in 2007.
"We are delighted to be involved with this transaction," said Francis Chen, partner of Mayer Brown with broad experience in credit facility transactions. "The successful signing of this facility shows that there is still appetite in the market for quality borrowers despite the challenging wider environment."
The Mayer Brown team was led by Finance partner Francis Chen with support from Raymond Wong on property-related aspects. Mayer Brown has acted for IFC Development and its shareholders in previous transactions including the development project of Hong Kong Station.