Practice Areas - International Finance and Bank Credit Law Firms and Lawyers
| Deal Date: | 01-01-2011 | Practice Area: | International Finance and Bank Credit |
| Deal Title: | China Resources intra-group lending arrangement | Industry: | Industrial Metals and Mining |
| Description: |
Slaughter and May advised China Resources (Holdings) Company Limited on the establishment of an intra-group lending arrangement for the China Resources group. The arrangement involves four of China Resources' Hong Kong listed companies - China Resources Land Limited, China Resources Enterprise, Limited, China Resources Cement Holdings Limited and China Resources Microelectronics Limited.
The purpose of the intra-group lending arrangement is to give each of the above listed companies greater flexibility in the management of its surplus cash resources and borrowing requirements and to enhance returns on temporary surplus liquidity. The listed companies may lend in excess of US$1.05 billion.
HKD and USD denominated borrowings are guaranteed by China Resources (Holdings) Company Limited and RMB denominated borrowings are guaranteed by China Resources Co., Limited.
The transactions under the intra-group lending arrangement constitute non-exempt continuing connected transactions under the Hong Kong Listing Rules and have been approved by the independent shareholders of each listed company.
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| Financial Center: | Hong Kong | Value: | 1000.01-5000.00 |
| Advised Party: | Borrower | Law Firm | Slaughter and May |
| Borrower | China | Lender | Denmark,China |
| Classification: |
Syndicated and Bilateral Loans Intra-Group Loans |
Lawyer | Peter Lake |
