find the latest legal job
Part Time Risk & Compliance Officer
Category: Other | Location: Brisbane QLD 4000
· Brisbane City · Flexible Part Time Hours
View details
Infrastructure Lawyer/SA
Category: Construction Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Global elite law firm · Dedicated Infrastructure team
View details
Property Lawyer
Category: Property Law | Location: All Melbourne VIC
· 12 Month Contract · Diverse Work
View details
Family Lawyer
Category: Family Law | Location: Eastern Suburbs Melbourne VIC
· Boutique Firm · Great Reputation
View details
Infrastructure Lawyers
Category: Construction Law | Location: All Perth WA
· We'd be particularly interested to hear from you if you were a lawyer who knows your way around the infrastructure and energy sectors.
View details
Mallesons in the big league in Hong Kong

Mallesons in the big league in Hong Kong

The Hong Kong office of Mallesons Stephen Jaques acted for the lead arrangers of a HK$9 ($1.5) billion financing for the HTIL (Hutchison Telecommunications International Limited) group. …

The Hong Kong office of Mallesons Stephen Jaques acted for the lead arrangers of a HK$9 ($1.5) billion financing for the HTIL (Hutchison Telecommunications International Limited) group.

Freshfields Bruckhaus Derringer acted for HTIL, the international business that was listed by the Hutchison Whampao group last year. It holds substantial telecommunications businesses in Hong Kong, India, Thailand and Israel, and has plans to expand into other markets.

Lead partner on the deal, Steven Christopher, said Mallesons had acted for a “roll call of top financial institutions” on the matter. He worked closely with ABN Amro, as the documentation bank, and Standard Chartered Bank, as facility agent and security trustee.

The other mandated lead arrangers were Calyon, HSBC, WestLB, Export Development Canada, Bayerische Landesbank, Industrial and Commercial Bank of China (Asia), ING Bank, The Royal Bank of Scotland, Societe Generale, Sumitomo Mitsui Banking Corporation and United Overseas Bank.

The sheer size of HTIL, and the fact that it had been in existence for less than a year, gave the deal a unique twist, Christopher said. “Everyone was having to run very quickly to understand what they were lending to.”

Adding to the challenges was HTIL’s requirement for flexibility. This required a finance structure that was “robust” enough for the banks’ liking, but did not restrict the “dynamic management” of the company.

But the main source of pride at Mallesons, Christopher said, was that this deal was “one of a collection” that the firm was starting to do and showed that, for the banking and finance practice, “we are in the big league”.

Robert Milliner, the firm’s chief executive officer, said the deal built on the flow of other English and Hong Kong law cross-border financings handled by the firm last year, including the US$1.25 ($1.7) billion financing for the Nam Thuen 2 hydropower project in Laos and several LBO financings.

“It demonstrates that the firm is clearly establishing itself as one of a select group of law firms with the credibility to act on big ticket financings in Asia,” he said.

Christopher was supported by Aaron Borg and Michelle Luk on the deal.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Mallesons in the big league in Hong Kong
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Nov 17 2017
It's time for politicians to commit to eradicating domestic violence
The national shame of domestic violence cannot be left unaddressed, writes Christine Smyth. ...
Nov 16 2017
From lawyer in law firm to senior governance professional
Promoted by Governance Institute of Australia As a law graduate, Kate Griffiths never imagined...
marriage equality
Nov 16 2017
Legislation the next hurdle for marriage equality
Lawyers have underscored the importance of ensuring same-sex marriage legislation does not limit ant...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...