Dr. Peng Telecom & Media Group Co., Ltd.’s $256 Million Bond Restructuring

King & Wood Mallesons advised Dr.Peng Holding Hongkong Limited as the issuer and Dr. Peng Telecom & Media Group Co., Ltd. (Dr. Peng Group) as the guarantor on the restructuring of the US$256 million 7.55% guaranteed notes due 2021 by way of a consent solicitation.

The consent terms included an extension of the maturity date and mandatory redemption dates and improved credit support by way of new security.

Dr. Peng Group is a leading telecom operator and internet service provider in the PRC.

A seamless KWM debt capital markets (DCM) and finance team acted for the issuer and guarantor in this transaction. The DCM team was led by Hong Kong partner Song Yue (picture), with support from counsel Ian Hardee and associates Rachel Wang and Danny Wang. The finance team was led by Beijing partner Yinghao Lv and Hong Kong partner Jessica Zhou, with support from senior associate Bryan Lo and associates Chong Ma, Moses Lee and Candice Chan.

Involved fees earner: Candice Chan – King & Wood Mallesons; Ian Hardee – King & Wood Mallesons; Moses Lee – King & Wood Mallesons; Bryan Lo – King & Wood Mallesons; Chong Ma – King & Wood Mallesons; Rachel Wang – King & Wood Mallesons; Danny Wang – King & Wood Mallesons; Lv Yinghao – King & Wood Mallesons; Song Yue – King & Wood Mallesons; Jessica Zhou – King & Wood Mallesons;

Law Firms: King & Wood Mallesons;

Clients: Dr Peng Holding Hongkong Limited; Dr Peng Telecom & Media Group;

Sonia Carcano

Author: Sonia Carcano