King & Wood Mallesons acts for HK Electric on HKD37bn syndicated loans

King & Wood Mallesons (KWM) has acted for the Hong Kong Electric Co (HKEIL) as borrower on a three-year HKD28.3bn (£2bn) syndicated term loan facility and as a guarantor on a three-year HKD8.7bn syndicated term loan facility with HK Electric Investments as borrower. The loan facilities were subject to Hong Kong Stock Exchange listing approval.

Earlier this month, HK Electric and HKEIL announced the launch of a Hong Kong public offering of 4,426,900,000 share stapled units, approximately 50.1 per cent of the total number in issue following the completion of the reorganisation and the global offering. The public offering closed on 21 January.

Freshfields acted as legal counsel to the lenders.

Richard Mazzochi, head of KWM’s banking and finance practice in Hong Kong, led the transaction.