Baker & McKenzie Advised Fortune REIT on Its HK$5 Billion Term Loan Facilities

Baker & McKenzie advised Fortune Real Estate Investment Trust (“Fortune REIT”) on its term loans in an aggregated amount of approximately HK$5 billion in October 2013. The new term loans were used for financing the acquisition of Kingswood Ginza Property, which comprises the entire shopping mall commonly known as “Kingswood Ginza” as well as certain other retail, kindergarten, parking and ancillary areas within the Kingswood Development which is located in Tin Shui Wai, Yuen Long, New Territories. The acquisition was completed on 9 October 2013.

The Baker & McKenzie team advising Fortune REIT was led by Milton Cheng, partner and head of the Firm’s REIT practice in Hong Kong and China. Simon Leung, Banking & Finance partner, advised on the debt financing aspects. Corporate partner Christina Lee and senior associate Jeremy Ong, advised on the acquisition aspect, and the team also included Real Estate partner Debbie Cheung.

Baker & McKenzie has been involved in a number of recent debt capital markets deals, including advising Yuexiu REIT on its US$1 billion medium term note programme as well as issuance of US$350 million 3.10% notes due 2018; Yuexiu Property Company Limited on its first US$2 billion medium term note programme as well as issuance of US$850 million notes; Yue Xiu Enterprises (Holdings) Limited on its initial issuance and private placement of HK$1 billion 6.4% notes due 2019, follow-on issuance of HK$1 billion 6.4% notes due 2020 and private placement and on its third note issuance of HK$1 billion 5.65% corporate notes due 2018, Champion REIT on its US$1 billion guaranteed medium term note programme; Cheung Kong (Holdings) Limited and its wholly-owned subsidiary, Cheung Kong Bond Securities (03) Limited (“CKBS3”), on the issue and offering by CKBS3 of US$500 million 5.375% guaranteed senior perpetual securities; Cheung Kong (Holdings) Limited and its wholly-owned subsidiary, Cheung Kong Bond Securities (02) Limited (“CKBS2”) on the issue and offering by CKBS2 of HK$1 billion 5.25% guaranteed senior perpetual securities; advising the joint bookrunners and the trustee, on the issuance by China ITS (Holdings) Co., Ltd of RMB210 million 10% guaranteed bonds due 2015; advising China South City Holdings Limited on its issue of US$125 million 13.50% senior notes due 2017; advising the issuer, CFG Investment S.A.C., an indirect wholly-owned Peruvian subsidiary of China Fishery Group Limited, on its US$300 million offering of 9.75% Senior Notes due 2019; Yanzhou Coal Mining Company Limited on its US$1 billion Notes issue; Li Ning Company Limited on its RMB750 million convertible bonds issue; and advising China WindPower Group Limited on its RMB750 million guaranteed bonds issuance.

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