"He is able to handle things in a very efficient manner and is very considerate of our concerns. During negotiations he has been able to flag up some very important points that we had neglected."Chambers Asia Pacific (2019)
Hallam Chow is a partner of Mayer Brown LLP and Head of Projects, China of JSM. His practice primarily involves project finance, structured finance and energy & infrastructure and oil & gas joint ventures, as well as bank & acquisition finance and asset-based finance, including aircraft, equipment and facility leasing.
n the area of project finance, Hallam has worked with lenders and equity investors in projects involving gas-fired, coal-fired, alternative energy, renewable energy, infrastructure and manufacturing facilities. He has also worked with Chinese and international lenders and borrowers in major outbound and inbound bank & acquisition finance transactions in multiple sectors, including technology, energy, oil & gas, healthcare, real estate and logistic assets, as well as lessees, lessors and lenders in asset finance transactions involving aircraft, rail, hydroelectric, nuclear, coal & gas fired facilities, oil-drilling and other equipments.
Prior to joining the firm, Hallam worked in the New York, Hong Kong and Beijing offices of an international firm, where he was involved in a number of innovative project finance and bank & acquisition finance deals and a wide array of asset finance transactions. His international approach is gained from both his professional experience and personal background. Educated in Hong Kong, the United States and the United Kingdom, he is fluent in four languages, including English, French, Cantonese and Mandarin.
Oil & Gas and LNG
- Kazakhstan Petrochemical Industries Inc. as borrower in the US$2 billion financing provided by China Development Bank Corp. (as original lender, agent and arranger) to Kazakhstan Petrochemical Industries Inc. to finance its development of a petrochemicals complex.
- A Chinese sovereign fund in a US$200 million equity investment in an Ethiopian LNG project. The US$4 billion project consists of five exploration blocks in the Ogaden Basin of Ethiopia and will also involve the construction of a 700 km gas pipeline to transport up to 12 billion cubic metres of gas per year from the Ogaden Basin to the port of Damerjog in Djibouti where an LNG liquefaction and export plant will be built. The deal was awarded as "Project & Energy Deal of the Year 2018" by China Law & Practice.
- The Paris branch of a leading PRC bank in connection with the US$178 million loan to “New Silk Road Oil and Gas” Limited Liability Company, which is a joint venture between the national oil company of Uzbekistan, Uzbek NHC Uzbekneftegaz and China National Petroleum Corporation in connection with the exploration, exploitation, development and operation of the Karakul gas block in the country’s southern province of Bukhara. The first phase project development cost is earmarked at US$377.5 million. This transaction was highlighted as one of the major One Belt One Road Project by the Government of the PRC and the Republic of Uzbekistan.
- COSL Singapore Capital Ltd., as issuer, and China Oilfield Services Limited (COSL), as guarantor, in the establishment of a US$3.5 billion EMTN Programme, and in the subsequent drawdown of US$500 million 3.50% Guaranteed Notes due 2020 and US$500 million 4.50% Guaranteed Notes due 2025 under the Programme. The Programme and the Notes are listed on The Stock Exchange of Hong Kong (SEHK).
- The Macau branch and Hong Kong arm of a leading PRC bank as mandated lead arrangers and as agent in a US$250 million loan to Trident Investment Holdings Limited for financing the Carlyle Group and Huo’s Group’s acquisition of a 75% stake in Tongyi Lubricants from Shell.
- CNOOC as the borrower in a US$3 billion syndicated loan with facility A provided by Australia and New Zealand Banking Group Limited, The Hongkong and Shanghai Banking Corporation Limited (Sydney Branch), Barclays Bank PLC (Australia Branch), Citibank, N.A., (Sydney Branch), Mizuho Bank, Ltd (Hong Kong Branch), Sumitomo Mitsui Banking Corporation, Bank of America N.A., (Australia Branch), Goldman Sachs Lending Partners LLC and facility B provided by China Construction Bank (Sydney Branch), Australia and New Zealand Banking Group Limited, Bank of China Limited (Sydney Branch), Barclays Bank PLC (Australia Branch), Citibank, N.A., (Sydney Branch), Commonwealth Bank of Australia and Sumitomo Mitsui Banking Corporation.
- Saudi Aramco in a joint venture with China's Sinopec to jointly develop a 400,000 barrels-per-day (bpd) refinery project in Yanbu’, on the west coast of Saudi Arabia. This deal was named "Deal of the Year 2012" by ASIAN-MENA COUNSEL and is nominated for "Energy & Resources Deal of the Year 2013" by ALB China Law Awards.
- Asian Development Bank in the acquisition of a stake in China Gas Holdings as part of a package that will provide approximately US$149 million funding to be used to establish, acquire and operate a series of new natural gas distribution projects through joint ventures with local governments and state-owned enterprises across China.
- Saudi Aramco in the RMB 30 billion (approximately US$4 billion) limited recourse financing to the Fujian Refining and Ethylene Joint Venture Project, which will be the largest world-class integrated refining and chemicals complex in China and represents the largest ever project financing for a Sino-foreign joint venture in China. Saudi Aramco, ExxonMobil and Fujian Petrochemical and Refining Company (an affiliate of Sinopec) are the project sponsors. The project has been named "Project Finance Deal of the Year" at the IFLR's Asian Awards 2008; "Asia Pacific Oil & Gas Downstream Deal of the Year" and one of the "Top Ten Global Project Finance Deals for 2007" by Project Finance Magazine; and one of the "Deals of the Year 2007" by Asian Counsel.
- As finance counsel, BP Berau and the other sponsors in connection with the US$2.6 billion financing of the Tangguh LNG Project in Indonesia operated by BP. The transaction is named as the "Asia-Pacific LNG Deal of the Year 2006" by Project Finance and was also included as one of Asian Counsel's "Deal of the Year 2006".
Water, Power and Infrastructure
- Asian Development Bank in connection with a proposed loan of approximately US$100 million to China Everbright Environmental Energy Ltd. to finance a portfolio of waste-to-energy projects in Vietnam.
- Asian Development Bank in a US$200 million A Loan and B Loan to Beijing Capital in connection with the construction and management of wastewater treatment facilities in China.
- Asian Development Bank in connection with the China Water Environment Group Limited integrated river and lake rehabilitation project.
- China Exim Bank in the development of the Souapiti hydropower project and Kaleta hydropower project, both located in Guinea.
- A major Chinese EPC contractor in relation to its role as concessionaire, sponsor and shareholder in tollroad projects located in Kenya.
- A major Chinese EPC contractor as investor and EPC Contractor in connection with its potential investment in Ramu II hydro project in Papua New Guinea.
- A Chinese sovereign fund and a major PRC telecommunications company in connection with the investment in a public private partnership project for building, operating and transferring of a fibre-optic network in Kazakhstan.
- Asian Development Bank as lender in the USD$150 million dual currency facility to Xinkai Water Environment Investment Co., Ltd and China Water Environment Group Investment Limited, a subsidiary of CITIC Group. The financing assists the borrower group to implement a series of water resources management projects including reclamation and supply, wastewater and sludge treatment, water supply, and water environment rehabilitation and management projects in the PRC.
- China Water Affairs Group Limited in its Regulation S offering of US$300 million 5.25% Senior Notes due 2022. Morgan Stanley acted as the sole global coordinator and bookrunner. China Water Affairs is one of the largest publicly-listed water supply companies in China based on volume of water sold. This is their debut bond offering in the international capital market.
- China Water Affairs Group Limited in connection with an equity investment by the International Finance Corporation of up to HK$155 million.
- Asian Development Bank in connection with the long-term US$120 million loan (“A”) and seven-year US$288 million loan (“B”) to Beijing Enterprises Water Group Limited and its PRC subsidiary BEWG Environmental Group Co. Ltd. for municipal wastewater and reuse projects in the PRC. The facility is supported by a guarantee provided by Beijing Enterprises Water Group Limited. This deal won “Project Finance Deal of the Year” at the China Law & Practice Awards 2015.
- Asian Development Bank as a lender for a US$200 million (and/or its RMB equivalent) multi-currency financing in connection with the expansion and improvement of water distribution in rural and semi-urban communities in the PRC. This project will support China Water Affairs Group Limited, a private sector front-runner company in the PRC's urban water sector, in expanding participation in the privatization and operation of water distribution and treatment in secondary cities across the PRC.
- Asian Development Bank in its proposed loan to a subsidiary of a water project company, to invest in multiple project companies for the rehabilitation, expansion and operation of water treatment and/or distribution facilities throughout China. This project won "Infrastructure and Energy Deal of the Year 2012" by China Business Law Journal and received the "Development Impact Honors" award from the US Department of the Treasury.
Corporate and Acquisition Finance
- A leading PRC Bank on the financing to Warburg Pincus for its investments in Ant Financial, the affiliate of Alibaba Group Holding Ltd. China’s Ant Financial, raised about US$14 billion in what market watchers called the biggest-ever single fundraising globally by a private company, as it accelerates the expansion of Alipay globally and develops new technology. The financing makes Ant Financial the largest fintech firm in the world and equips it with enormous resources for expansion. The deal was awarded "Private Equity Deal of the Year 2018" by China Law & Practice Awards, "Deal of the Year 2018: PE/VC and Fintech" by China Business Law Journal and "Private Equity Deal of the Year 2019" by Asia Legal Awards hosted by The Asian Lawyer.
- Major PRC banks in the 6.8 billion euro acquisition loan to a Chinese sovereign investment corporation in connection with its approximately 12.25 billion euro acquisition of logistics assets in Europe. The deal was awarded "Real Estate Deal of the Year 2018" by China Law & Practice Awards.
- A leading PRC Bank as mandated lead arranger, bookrunner, agent and security agent on the US$850 million acquisition financing involving eight jurisdictions for the acquisition of all the issued shares of Sirtex Medical Limited, an Australian medical device company specializing in oncology treatment using Selective Internal Radiation Therapy (SIRT). The buyers CDH and China Grand Pharmaceutical and Healthcare Holdings Limited have jointly offered a total consideration of US$1.4 billion in cash for the acquisition. The deal was awarded "Inbound M&A Deal of the Year 2018" by Mergermarket Inaugural Australia M&A Awards and "Deal of the Year 2018: M&A" by China Business Law Journal.
- A leading PRC Bank as sole China lead arranger, bookrunner, mandated lead arranger and lender on the approximately US$4.3 billion and €1.8 billion term loan and US$900 million revolving loan facility transaction for the Euro 10.1 billion acquisition of 100% of Akzo Nobel’s specialty chemicals business by The Carlyle Group and GIC.
- A PRC Sovereign Fund China-Africa Fund for Industrial Cooperation Co. Ltd on a US$200million term loan facility to China Hongqiao Group Limited in connection with the import of bauxite from the Republic of Guinea.
- A PRC Sovereign Fund China-Africa Fund for Industrial Cooperation Co. Ltd on a US$200 million equity investment in Baiyin International Investment Limited, a subsidiary of Baiyin Nonferrous Group Co., Ltd on certain platinum mining project in South Africa.
- A PRC Sovereign Fund China-Africa Fund for Industrial Cooperation Co. Ltd on a US$200million equity investment in NFC (Mauritius) Mining Company Limited, a subsidiary of China Nonferrous Metal Mining (Group) Co., Ltd. on the development of the Dari zinc-lead mining project in Indonesia.
- Ping An Bank as lender on a HK$3.8 billion facility to PA Investment Funds SPC IV for its participation in the buyout of Dalian Wanda Commercial Property Co’s Hong Kong-listed shares for an aggregate value of HK$34.5 billion (US$4.4 billion).
- A syndicate of PRC banks as mandated lead arrangers and original lenders in a US$2 billion financing for the privatisation of Shenzhen-headquartered Mindray Medical International Limited, a leading developer, manufacturer and marketer of medical devices worldwide listed on the NYSE.
- A leading PRC bank, as arranger, and the Luxembourg branch of the PRC bank, as agent and security agent extend a US$10 billion term loan facility to Global Chem Investment in support of its equity investment in an affiliate of China National Chemical Corporation for application toward the US$45 billion acquisition of Syngenta, a major and global Swiss agribusiness conglomerate.
- The Macau branch of a leading PRC bank in a US$55 million term loan to Candlewood Investment SRL and Springwood Investment SRL to finance their share purchase for the acquisition of the share capital in Red Star Macalline Group Corporation Ltd. and a US$25 million term loan to Candlewood Investment SRL for its general corporate funding.
- The Macau branch of a leading PRC bank as lender in a US$470 million loan to Fosun International Limited, as borrower, to finance the payment of the share purchase consideration of a certain company.
- Various leading international and PRC banks in the US$1.5 billion acquisition financing for COSL Norwegian AS, a wholly owned subsidiary of China Oilfield Services Limited, an affiliate of CNOOC Ltd, in connection with its US$2.5 billion acquisition of Awilco Offshore ASA, a Norwegian oil and gas drilling contractor. This acquisition occurred during a period of high demand for oil and gas in China, increased COSL's drilling rig-fleet to from 15 to 22 and provided COSL with further opportunities to market its non-drilling services, such as marine transport and seismic mapping, to Awilco's existing customers like BP, Statoil and Repsol.
- Minsheng Financing Leasing Co., Ltd. in its sale of two aircraft on lease to China Airlines Ltd., part of the sale proceeds were for repayment of the current financing in connection with the two aircraft.
- Minsheng Financial Leasing Corporation in its portfolio acquisition of 13 aircraft from Ryanair, China Eastern Airlines, Norwegian Air, SAS, Iberia, Aeroflot and Garuda. Currently the sale and novation of 5 aircraft has been closed. The transaction was won "China Deal of the Year" Award from AirFinance Journal 2014.
- Nomura Holdings, Inc., Nomura Babcock & Brown Co., Ltd. and BBAM Aircraft Management LLC, in a Sharia law compliant sukuk issuance with a total aggregate principal amount of US$100 million. This was the first sukuk involving a Japanese multinational corporation. Proceeds from the sukuk issuance were used to finance the purchase of one Boeing 737-800 aircraft and one Airbus A320-232 aircraft on lease to Norwegian Air Shuttle ASA and Wizz Air Hungary Ltd. respectively. The sukuk issuance and related sale and leaseback of the respective aircraft required coordinating businesses and legal counsel across multiple jurisdictions including Hong Kong, Japan, Dubai, England, Malaysia, Indonesia, Norway and the United States. This deal received an honorable mention in Asian-Counsel's "Deals of the Year 2010", nominations for the "Islamic Finance Deal of the Year" at the ALB SE Asia Law Awards 2011 and "The Japan In-House Counsel Network Award Debt Market Deal of the Year" at the ALB Japan Law Awards 2011.
- AirAsia X Sdn Bhd, as lessee, in connection with the sale and leaseback of two Airbus A330 aircraft. ICBC Financial Leasing Co., Limited acted as arranger and the aircraft were registered in Malaysia.
Georgetown University Law Center, JD, cum laude, International Academy of Trial Lawyer's Award for Juvenile Justice Clinic
Georgetown University, AB, magna cum laude
University of Oxford, St. Antony's College, Visiting Student
- New York
- Advisor to the Dean’s Advisory Council for Columbia University, School of Social Work
- Member of the Asian Law Alumni Advisory Board for Georgetown University Law Center
- Honorary Advisor to the Peking University Law School Alumni Council
- Adjunct professor to the Peking University Law School
- New York State Bar Association
- Leading Individual - Projects and Energy: Foreign Firms, China – Legal 500 Asia Pacific (2019)
- Leading Individual - Projects and Infrastructure, China – Chambers Asia Pacific (2008-2019)
- Leading Individual - Aircraft Finance, China – Chambers Asia Pacific (2011, 2012, 2015-2018)
- Leading Individual - Projects and Infrastructure, China – Chambers Global (2011-2019)
- Highly Regarded - Banking, China and Hong Kong – IFLR1000 (2018)
- Highly Regarded - Banking, Hong Kong – IFLR1000 (2018-2019)
- Highly Regarded - Energy and Infrastructure, China – IFLR1000 (2018-2019)
- Highly Regarded - Energy and Infrastructure, Hong Kong – IFLR1000 (2018-2019)
- Highly Regarded - Project Finance, China – IFLR1000 (2018-2019)
- Highly Regarded - Project Finance, Hong Kong – IFLR1000 (2018-2019)
- Leading Individual - Projects and Infrastructure, Hong Kong – Chambers Asia Pacific (2008-2016)
- Leading Individual - Asset Finance, Asia Pacific – Chambers Asia Pacific (2012-2015)
- Leading Individual - Asset Finance, Asia Pacific – Chambers Global (2012-2015)
- Leading Individual - Projects and Energy, Hong Kong – Legal 500 Asia Pacific (2009-2015)
- Leading Individual - Asset Finance, Hong Kong – Legal 500 Asia Pacific (2012 and 2013)
- "He is able to handle things in a very efficient manner and is very considerate of our concerns. During negotiations he has been able to flag up some very important points that we had neglected." – Chambers Asia Pacific (2019)