Global law firm White & Case LLP advised China Development Bank Corporation (CDB) on two loans, together valued at over US$20 billion, to Venezuela’s Banco de Desarrollo Económico y Social de Venezuela (BANDES). The financing, which signed 23 August 2010, is one of the largest that CDB has extended to any one country.
White & Case’s team supported CDB in negotiations and documentation day-in and day-out in China, in coordination with the Firm’s New York and Miami offices.
Xiaoming Li, the head of White & Case’s Beijing office who led White & Case’s team, commented, “It has been an honor for our firm to work on such a unique and important transaction for CDB. We relied on the strength of our offices’ experience working together on cross-border deals and our Firm’s ability to mobilize global resources. Being on the ground in China and our New York and Miami offices’ extensive Latin America experience were key assets to handling the challenges of this transaction.”
In addition to Xiaoming Li, the White & Case team included Sean Wang, Xin Wang, Xueyan Gao, Tianren Liu and Di Zhuo (Finance) and Jiang Bian (Tax) in Beijing; Carlos Viana and Sergio Cabado (Finance) in Miami; Someera Khokhar and Amiko Sudo (Finance) and Ank Santens (International Arbitration) in New York; and Magdalene Bayim-Adomako (Finance) and Jason Yardley (Disputes) in London.
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