Olivia Ngan

Recent experience includes representation of*:

Lender

• 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 arrangers on a US$171 million secured and cross-guaranteed syndicated refinancing facility secured by a shopping mall and hotel in Hong Kong.
• A major Swiss bank as the sole arranger on a US$250 million syndicated facility for a subsidiary of a major Hong Kong-listed P.R.C. real estate developers with pre pack arrangements secured by existing share security securing its existing bonds on a pari passu basis.
• One of the largest P.R.C. 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.
• The arrangers on a HK$1.8 billion term loan to a JV company set up by two leading ports operators which operates Terminal 8 (East) at the Kwai Tsing Container Port.
• A major Singaporean bank on various HK$2 billion term fixed rate bi-lateral loan facilities for two major Hong Kong developers.
• A leading Spanish bank on equity margin financing backed by shares of companies listed on the Australian Stock Exchange and the Main Board of the Stock Exchange of Hong Kong Limited.
• China Merchants Bank Co., Ltd. as mandated lead arranger on an acquisition facility for a member of the Creat Group in connection with its all-cash offer for the voluntary takeover of Biotest AG, a German pharmaceutical company. Creat is a Chinese investment group that invests in healthcare and pharmaceuticals, manufacturing, energy, finance, and natural resources. The takeover was valued at approximately €940 million.
• A P.R.C. based asset management company in its provision of a US$ 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.
• A leading U.S. bank 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.
• An Icelandic 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 to a BVI borrower and its Nigerian subsidiary 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 a company within a leading energy 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

• 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 wholly-owned subsidiary of one of the largest Hong Kong-listed P.R.C. real estate developers on a 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.
• A wholly-owned subsidiary of a major Hong Kong-listed P.R.C. 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.
• A Hong Kong-listed P.R.C. real estate developer on a US$185 million and HK$ dual currency transferrable secured and guaranteed syndicated term loan facility with a greenshoe option of up to US$19 million and HK$248 million, which is secured by existing share security securing its existing bonds on a pari passu basis and guaranteed by the company's various offshore subsidiaries.
• A Hong Kong-listed P.R.C. real estate developer on a RMB1 billion term loan facility granted to one of its subsidiaries 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 P.R.C. and debts owed by the target with an onshore facility to one of the target’s onshore subsidiary.
• A Hong Kong-listed P.R.C. real estate developer on its HK$1.224 billion and US$643,076,923 dual tranche guaranteed and secured four-year syndicated term loan facility.
• A JV company set up by two Hong Kong-listed real estate developers in its US$225 million and HK$741 million syndicated secured any guaranteed term loan granted by a syndicate of banks with an onshore facility granted to the onshore project company.
• 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.
• An Indonesian premier petrochemical producer in relation to a US$265 million seven-year secured and guaranteed term loan with a letter of credit facility granted by a club of international banks as lenders for the financing of capital expenditure required for a naphtha cracker expansion project.
• 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.
• JY Grandmark Holdings Limited in its debut secured and guaranteed syndicated HKD and USD term loan facilities arranged by Hang Seng Bank Limited, The Bank of East Asia, Limited and Chong Hing Bank Limited.
• A subsidiary of one of the largest HK-listed P.R.C. 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 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 a “blue chip” HK listed company.
• A major HK-listed P.R.C. 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.

Distressed Loan Trading

• an investment SPV set up by a major Chinese state-owed enterprise in its acquisition of certain funded portions of a distressed loan in an aggregate amount of approximately US$141.6 million to an affiliate of a company whose shares have been suspended from trading on NASDAQ from a major Swiss bank and a Chinese credit fund.
• an investment SPV set up by a major HK-listed P.R.C. property developer in its acquisition of a distressed term loan facility of up to HK$5.81 billion to a Shanghai-listed distributor of passenger cars from various syndicated lenders, and the re-structuring of such distressed assets for disposal purposes.

*Includes matters completed prior to joining Sidley.