Olivia Ngan

Recent experience includes representation of*:

Lender

• R-Bridge Healthcare Fund, a subsidiary fund of healthcare-focused CBC Group, on a US$40 million royalty-backed financing to Yisheng Biopharma Co., Ltd. This is the first royalty-backed financing in China's biopharmaceutical industry. 
• The arrangers on a HK$3.7 billion senior term loan syndicated facility for a major technology and media company which is a member of Cheung Kong–Hutchison Group.
• The Hong Kong and Shanghai Banking Corporation and Citibank, N.A. on a US$171 million secured and cross-guaranteed syndicated refinancing facility secured by a shopping mall and hotel in Hong Kong.
• China Merchants Bank Co., Ltd. as mandated lead arranger on an acquisition facility for a member of the Creat Group in connection with its all-cash offer for the voluntary takeover of Biotest AG, a German pharmaceutical company. Creat is a Chinese investment group that invests in healthcare and pharmaceuticals, manufacturing, energy, finance, and natural resources. The takeover was valued at approximately €940 million.
• OCBC on various HK$2 billion term fixed rate bi-lateral loan facilities for two major Hong Kong developers.
• Santander on equity margin financing backed by shares of companies listed on the Australian Stock Exchange and the Main Board of the Stock Exchange of Hong Kong Limited.
• CCB International Asset Management Limited in connection with certain pre-IPO investments in China Aircraft Leasing Company Limited, a company listed on the HKSE, by way of secured exchangeable loan notes.
• China Chengtong Development Group Ltd. (HKEX: 217) in its equity investment and mezzanine debt financing in the aircraft sales and leasing business of China Aircraft Leasing Group Holdings Limited. The transaction involved financing the acquisition of an ever changing portfolio of eligible aircraft.
• An investment platform of a major PRC bank in its investment backed by common stocks in Skypeople Fruit Juice, Inc. (listed on NASDAQ).
• The investment platforms of a major PRC bank in various pre-IPO investments.
• One of the largest PRC banks as arranger and the lenders on a club loan for the leading provider of shared communication fiber network in Emerging Asia secured by fibre optics in Myanmar.
• A PRC based asset management company in its provision of a US$ equivalent RMB1.4 billion term loan facility to finance the subscription of shares in a company listed on the Stock Exchange of Hong Kong Limited.
• Citibank, N.A. on aircraft financing transactions.
• Allied Irish Banks on ISDA transactions.
• Silicon Valley Bank in various loan financing with warrant features.
• Citibank, N.A. on the restructuring of an aircraft loan to a Swiss borrower and an Austrian owner/guarantor due to the change in operator and country of registration from Austria to the UK.
• Kaupthing Bank on a pre-delivery aircraft finance transaction of US$20 million with multiple drawings.
• A syndicate of Indian banks on a US$110 million secured and guaranteed term loan facility to a leading energy group in India, in respect of the exploration and development of a natural gas field in Rajasthan, India.
• A syndicate of Indian banks as lenders on a US$82 million secured and guaranteed term loan facility for the financing of the acquisition of the two on-shore rigs in Nigeria.
• A club of Indian banks as tranche B lenders on their participation in a US$237.7 million term loan facility to Essar Group involving taking security over an offshore oil rig in Liberia.
• A syndicate of Indian banks on a US$11.98 million term loan facility and a US$20 million trade credit facility to an Indian shipping company for the acquisition of a dry bulk carrier including the transfer from Hong Kong flag to Indian flag after acquisition.

Borrower

• A subsidiary of one of the largest HK-listed PRC real estate property developers in its HK$7.6 billion senior loan facilities secured by a mortgage over a Grade A office building in Wanchai.
• A major HK-listed PRC real estate property developer in the HK$5 billion secured and guaranteed syndicated term loan facilities to an SPV borrower and a HK$3 million mezzanine secured and guaranteed syndicated loan to finance a development project in Kai Tak, Kowloon.
• A wholly-owned subsidiary of one of the largest Hong Kong-listed PRC real estate developers on a pioneer HK$1,928,478,400 dual-tranche secured and guaranteed four-year term loan facility arranged by a major Chinese bank to fund the acquisition and construction costs of a property development project in Hong Kong, and the restructuring of such financing with a senior loan, mezzanine notes and fund investment structure.
• Hong Kong Airport Authority on its HK$35 billion five-year term and revolving facilities that will support the costs of the upgrade of the Hong Kong International Airport and construction of a new third runway. The loan is compliant with EPIV which is the latest iteration of the Equator Principles.
• A joint venture set up by one of the world’s largest conglomerate and a major trading firm based in Japan on a HK$17.5 billion term loan facility secured by a minority stake in CITIC Limited.
• Sunac and Sunac Greentown Investment as the borrower and certain of its subsidiaries as guarantors in relation to a complex multi-jurisdictional US$450 million three-year term loan facility granted to the Borrower. This transaction was named as “Banking and Finance Deal of the Year” by China Business Law Journal in 2013.
• Agile, KWG and Shimao and R&F Properties as guarantors and R&F as undertaker on the joint venture set up by the sponsors, Accord Wing Limited as guarantor and its direct subsidiary, the joint venture as borrower on a complex transferable HK$2.7 billion three-year term loan facility and an onshore RMB1 billion three-year term loan facility granted to the onshore borrower.
• Petron Corporation and San Miguel Corporation in connection with the financing of the acquisition of ExxonMobil’s downstream oil business in Malaysia. A total of US$577.3 million was raised for the acquisition financing, including the related working capital facilities.
• Sino Biopharmaceutical Limited, Zhongyu Gas, China Oil & Gas and Fufeng Group Limited on syndicated loan facilities.
• A wholly-owned subsidiary of a major Hong Kong-listed PRC real estate developer in connection with an up to HK$8.973 billion secured and guaranteed three-year term loan facility to fund the acquisition of certain delisted H-shares.
• Significant shareholders of various major companies listed on the HKSE on equity-backed margin financings.
• A Hong Kong-listed PRC real estate developer on a RMB1 billion term loan facility for the purposes of financing part of the consideration for the acquisition of certain shares in a target company, which indirectly holds various real estate projects in the PRC and debts owed by the target with an onshore facility to one of the target’s onshore subsidiary.

Debt restructuring

• Certain major HK-listed real estate high yield issuers on offshore debt restructuring transactions.

*Includes matters completed prior to joining Sidley.