China Forestry Group Corporation’s US$168 Million Syndacated Offshore Loan Facility

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.

Involved fees earner: Eugene Ang – Ashurst; Phoebe Chen – Ashurst; Longman Hu – Ashurst; Eric Tan – Ashurst;

Law Firms: Ashurst;

Clients: China CITIC Bank International; Chiyu Banking Corporation; Kookmin Bank; Mizuho Bank; Shinhan Bank; Tai Fung Bank; Tokyo Star Bank;

Author: Michael Patrini