Ashurst acted as the lead counsel to China CITIC Bank International, Mizuho Bank, Shinhan Bank, Tokyo Star Bank, Kookmin Bank, Chiyu Banking Corporation and Tai Fund Bank, on a US$168 million syndicated loan facility, with a green shoe option, to CFPC Pte. Ltd guaranteed by its parent company China Forestry Group Corporation.
The proceeds will be used for general corporate purposes.
China Forestry is a forestry enterprise set up directly under the Chinese State Forestry Administration. It is currently the only forestry company supervised by the State-owned Assets Supervision and Administration Commission of the State Council.
The Ashurst team was led by partner Eric Tan (Picture), supported by associates Longman Hu, Eugene Ang and Phoebe Chen.
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