$175 million secured term loan facility for the owners of Excel Centre

DLA Piper has advised a consortium of five leading international banks led by Deutsche Bank AG as mandated lead arrangers in connection with a US$ 175 million secured term loan facility to three Barbados borrowers, which indirectly own Excel Centre, a grade-A office tower with a total space of over 41,000 square meters located in Beijing’s Financial Street.

The loan is secured by a complex security package, which includes a cross-border guarantee, property mortgages, and other collateral in China. The transaction involved multiple jurisdictions including China, Barbados, Hong Kong and the United States. Wayne Ma, DLA Piper’s Real Estate partner, said: “The cross-border security from China for this offshore loan is one of the first of its kind for international banks and we are delighted to have advised on this deal.”

The DLA Piper team was led by Real Estate partner Wayne Ma (Picture), and assisted by Real Estate senior associate Julian Zhu and associate May Liu, all in Shanghai. Hong Kong based Finance and Projects partner Paul Lee also advised on the transaction.

 

Involved fees earner: Wayne Ma – DLA Piper; Julian Zhu – DLA Piper; May Liu – DLA Piper; Paul Lee – DLA Piper;

Law Firms: DLA Piper;

Clients: Deutsche Bank;

 

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Author: Michael Patrini