Appleby advises Credit Suisse on secured loan facility to Golden Chance

Appleby has acted as Bermuda and British Virgin Islands counsel to Credit Suisse, Singapore branch, in relation to its $30m secured loan facility to Golden Chance (Saigo) and its $19.5m subscription of non-listed warrants issued by Century Ginwa Retail Holdings.

Golden Chance is a wholly owned subsidiary of Century Ginwa, a company incorporated in Bermuda and listed on the Hong Kong stock exchange. The company is primarily engaged in the operation of department stores, shopping malls and supermarkets in China.

The proceeds of the loan are for general refinancing within the Century Ginwa group of companies and for general working capital purposes, while the proceeds from the issue of the warrants will enable Century Ginwa to raise capital and broaden its shareholder base.

The Appleby team was led by Jeffrey Kirk, corporate and commercial partner of Appleby, and assisted by senior associates Rupen Shah and Joanne Collett.

Allen & Overy advised Credit Suisse as to Hong Kong law. 

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