Appleby acted as Cayman counsel for Times Property Holdings Limited (Times Property) in relation to the issuance of 10.375% RMB900 million Senior Notes due 2017. The net proceeds from the issuance of the Notes will be used to refinance its existing debt. Earlier this year, Appleby also acted for Times Property in its issuance of 12.625% US$225 million Senior Notes due 2019.
The Appleby team was led by Judy Lee, a corporate partner in Appleby’s Hong Kong office, assisted by Senior Associate Chris Cheng. Sidley Austin advised Times Property as to Hong Kong and US law and Commerce & Finance Law Offices advised Times Property as to PRC Law. Davis Polk & Wardwell and King & Wood Mallesons advised the initial purchasers as to US and PRC laws, respectively.
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