The Legal 500 Asia Pacific (2023)
“Jasmine Chiu works on all aspects of real estate financing and is noted for her ‘high quality output‘.”
“Jasmine Chiu is knowledgeable and flexible. Jasmine is easy to access and easy to communicate with, she is patient and delivers high quality output.”
Jasmine Chiu is a partner in the Real Estate Finance practice in Mayer Brown's Hong Kong office. Jasmine has experience in real estate legal practice and advises investment banks/commercial banks or sponsors/borrowers (private equity real estate funds, private investors, developers, public listed companies and real estate investment trusts (REITs)) on debt financings, including secured or unsecured syndicated loans and mezzanine loans.
Jasmine focuses on handling complex real estate financings relating to Hong Kong and cross border property transactions (commonly PRC, Macau, Singapore and UK). The underlying real estate transactions often involve property M&A deals by way of sale and purchase of shares in property holding companies, joint venture, acquisition of new land by way of land auction, land exchange, project development (including MTR land development and redevelopment of compulsory sale units), general conveyancing or corporate restructuring.
Jasmine is also experienced in handling onshore/offshore financing involving PRC properties (commercial and residential development projects, hotel, warehouse, acquisition financing and distress buy-outs).
The high-profile and landmark acquisition financing of Kowloon Bay Trade and Exhibition Centre deal that Jasmine spearheaded was shortlisted in the “Finance Deal of the Year” category of the Asia Legal Business Hong Kong Law Firm Awards 2022.
Jasmine is recognised by Asian Legal Business as one of the 2022 "40 under 40" top lawyers in Asia. The lawyers in this list come from varied jurisdictions in Asia and practice areas including private practice and in house, and were selected after a rigorous process based on their quality of work, recommendations from their clients and colleagues and potential for future growth.
Jasmine is the speaker for various CRE financing webinars and seminars to bank and real estate developers/investors. A thought leader in her field, Jasmine imparts her deep experience and market knowledge to her clients, delivering insight on hot topics including HK Property Acquisition Financing and Financial Assistance, Hong Kong/China Offshore/Onshore Structures, Property Development/Construction Loan (Consent Scheme/Non-Consent Scheme) Financing and Compulsory Sale and Redevelopment Financing.
Jasmine speaks English, Mandarin and Cantonese.
- Represented a group of syndicated lenders to finance the HK$10.5 billion acquisition of Kowloon Bay Trade and Exhibition Centre and to redevelop the complex containing grade-A offices. It was one of the biggest Hong Kong real estate single-property acquisition transactions in 2021 and it was shortlisted in the “Finance Deal of the Year” category of the Asia Legal Business Hong Kong Law Firm Awards 2022.
- Advised a syndicate of banks in connection with HK$14.75 billion senior secured term loan financing for the acquisition of a portfolio of 17 Hong Kong shopping centres by a consortium led by Gaw Capital Partners from Link REIT. Also represented the bank group in the project's refinancing. Further represented a syndicate of banks in relation to another HK$9.169 billion senior secured financing for the acquisition and renovation of another portfolio of 12 shopping centres in Hong Kong by a separate consortium led by Gaw Capital Partners from Link REIT. The underlying acquisitions for approximately HK$23 billion and HK$12.01 billion respectively are one of the biggest sales and purchases of its kind in Hong Kong
- Advised a syndicate of banks as leading Hong Kong counsel on USD 290 million offshore senior secured syndicated term loan facilities with accordion (green shoe option to increase commitment) and RMB 590 million onshore senior secured syndicated term loan facilities to provide refinancing on a portfolio basis for various high value logistics centers and warehouses in various cities of the PRC acquired and owned by a global PERE fund.
- Advised a syndicate of banks on £675 million green loan facility to HSH Financial Services Limited, a wholly-owned subsidiary of The Hongkong and Shanghai Hotels Limited, with guarantee granted by the listed parent, to refinance the construction and operating cost of The Peninsula London Hotel and The Peninsula Residences London. The project site, in a location overlooking Hyde Park Corner and the Wellington Arch, comprises a 190-room hotel and 25 luxury Peninsula-branded residential apartments. The Peninsula London hotel and residences are expected to set new standards in luxury and service as one of the finest in the London market when completed. The green loan aligns with the Green Loan Principles and Guidance on Green Loan Principles jointly published by the Asia Pacific Loan Market Association (APLMA), the Loan Market Association (LMA) and the Loan Syndications and Trading Association (LSTA).
- Advised a syndicate of banks in relation to HK$8.33 billion senior secured financing relating to acquisition of two grade A office buildings in Hong Kong. The financing accommodated complex post-acquisition restructuring options both at project level (by way of spin-off strata title to various offshore holding companies) and at sponsors' level (involving put/call options on share transfer between the sponsors and option for co-investment transfer of shares in intermediate holding companies for investment sale down to co-investors during the loan tenor).
- Advised a syndicate of banks as leading Hong Kong counsel on HK$1,900 million and RMB950 million onshore/offshore secured term loan financings in relation to a real estate project development in Beijing, PRC. The financing involves cross border lending, guarantees and securities in Hong Kong and PRC (Nei Bao Wai Dai) with an intercreditor agreement entered into between the onshore lenders and the offshore lenders.
- Advised as Hong Kong lead counsel for a syndicate of banks in relation to offshore US$201.5 million secured term loan and a syndicate of onshore banks in relation to onshore RMB338 million secured term loan, for financing the acquisition of a grade A office building in Shanghai, PRC by a leading PERE fund by way of acquiring the entire issued share capital of the Singapore holding company and financing the project development costs. The financing involves cross border lending, guarantees and securities in Hong Kong, Singapore and PRC with an intercreditor agreement entered into between the onshore lenders and the offshore lenders.
- Acted as lenders’ legal counsel relating to HK$4.385 billion term loan for financing a MTR residential development in Wong Chuk Hang, Hong Kong owned by a joint venture company of a SEHK listed company and a PRC developer.
- Acted as lenders' legal counsel relating to certain USD transferrable revolving loan facilities granted to China Ping An offshore entity involving NDRC filing with SAFE in PRC.
- Advised CMBI International Finance Limited as mandated lead arranger on a series of bridging loans in respect of Pre-IPO corporate restructuring and a syndicated Pre-IPO financing of PRC corporate group in connection with its IPO in HKEX.
- Acted as Hong Kong legal counsel for a SEHK listed company as sponsor in relation to a GBP term loan granted by an investment bank for financing the sponsor’s acquisition of a commercial building in London.
- Advised a syndicate of banks in relation to certain secured term loan facilities for financing the acquisition and renovation of 3 shopping centres (Capri Place, Savannah Place and Monterey Place) in Tseung Kwan O, Hong Kong by a JV led by Phoenix Property Investors from Wheelock Properties Limited for HK$3.38 billion.
- Advised as sponsor’s counsel on certain mezzanine loan granted by China Everbright Bank to a wholly owned subsidiary of Taiping Assets Management (HK) Company Limited for financing general working capital of the group companies.
- Advised a syndicate of banks in relation to a senior secured loan financing the acquisition of the office building at 625 King's Road, Hong Kong by a leading PERE fund from Swire Properties Limited.
- Advised a commercial bank based in Macau on the mortgage refinancing of various floors of The Center, a prime commercial building in CBD of Hong Kong.
- Advising commercial banks on various simultaneous acquisition financings involving financial assistance (mortgage and other securities from Hong Kong target companies) and whitewash procedures as exception to financial assistance under Hong Kong Companies Ordinance.
- Advised a syndicate of lenders in relation to HK$2.9 billion term loans for financing the residential development project at Sha Tin Town Lot No.601, Hong Kong, developed by a consortium led by Wang On Properties Limited and Country Garden Holdings Company Limited.
- Advised a syndicate of banks on a US$480 million secured loan for financing the acquisition of the hotel, InterContinental Hong Kong by way of acquiring the entire issued share capital in the holding company.
- Advised a syndicate of lenders in relation to certain loan facilities financing a large scale hotel development in Macau.
- Acted as lenders’ legal counsel on HK$1.198 billion facilities in relation to the acquisition of various high value houses and low-rise residential properties at Nos.8, 10 and 12 Peak Road, The Peak, Hong Kong by CSI Properties Limited and Phoenix Property Investors (PERE fund) and advised lenders on certain corporate and property holding restructurings.
- Advised as Hong Kong lead counsel for a syndicate of offshore banks in relation to offshore RMB1.321 billion secured term loan and a syndicate of onshore banks in relation to onshore RMB200 million secured term loan, for financing the acquisition of a shopping mall near Guangzhou East Railway Station, PRC, by way of acquiring the entire issued share capital in the investment holding company by a group of private investors. The financing involves cross border lending, guarantees and securities in Hong Kong and PRC with an intercreditor agreement entered into between the onshore lenders and the offshore lenders.
- Advised banks on various property development loans involving first stage of bridging loans for financing the acquisition of new land by developers from Hong Kong Government (or land rights from MTR) by way of tender or land exchange; followed by second stage of term loans for refinancing land premium and financing project development and construction costs.
The University of Hong Kong, PCLL
King's College London, LLM
International Financial Law
The University of Nottingham, LLB
Inscription au Barreau
- Hong Kong
- “Jasmine Chiu works on all aspects of real estate financing and is noted for her ‘high quality output‘.” – The Legal 500 Asia Pacific (2023)
- “Jasmine Chiu is knowledgeable and flexible. Jasmine is easy to access and easy to communicate with, she is patient and delivers high quality output.” – The Legal 500 Asia Pacific (2023)
- “We usually use Jasmine Chiu and Wilson Wong for the real estate financing. They usually staff their best associates on the deal, respond promptly, always very reliable.” – The Legal 500 Asia Pacific (2023)
- Asia 40 under 40 – Asian Legal Business (2022)