The financing is a landmark deal for the Asian structured trade finance market as it is the first offshore international borrowing by an independent Chinese oil refinery and also the largest ever Chinese structured commodity finance deal to be completed.
The team was led out of London by partner Jonathan Solomon (who leads the Reed Smith EMEA and SE Asian trade finance practice) and who was supported by lawyers in the firm’s Hong Kong, Shanghai and Singapore offices. Reed Smith has a pre-eminent experienced global trade finance team which enabled the firm to service the deal around the clock.
“We were hugely excited to work on this transaction for ING Bank and the lender syndicate, said Jonathan Solomon. “It was a hugely rewarding experience to bring together our experienced practitioners across our global platform to successfully advise on this transaction and to close this record breaking Chinese commodity financing.”
Michael Wang, Head of Structured Metals & Energy Finance, Greater China commented that “It was a great pleasure working together with Jonathan and his team at Reed Smith on this landmark transaction in the Chinese commodity market. We were very impressed by the Reed Smith team's professionalism and dedication in bringing this complex deal across the finishing line."
The full team included Kypros Santis (London), Ildar Bagautdinov (London), Jeffrey Yang (Shanghai), Fai Kung (London), Jessica Kenworthy (Singapore), Jamie Sim (Singapore), Will Barber (Hong Kong) and Maggie Cheung (Hong Kong) with JunHe LLP as PRC counsel to the syndicate.
About Reed Smith
Reed Smith is a global relationship law firm with more than 1,700 lawyers in 27 offices throughout the United States, Europe, Asia and the Middle East. Reed Smith is a preeminent advisor to industries including financial services, life sciences, health care, advertising, entertainment and media, shipping and transport, energy and natural resources, real estate, manufacturing and technology, and education. For more information, visit reedsmith.com
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