Linklaters advises New World Development on historic HK$88bn financing transaction

Linklaters is pleased to announce that it has acted as sole Hong Kong and English law counsel to New World Development Company Limited on the structuring and implementation of a landmark financing transaction of approximately HK$88.2bn (approximately USD11.3bn). This transaction involves the refinancing and alignment of certain of New World Development’s existing bank financings, enabling the group to better manage its ongoing business and financial needs.

This financing represents the largest transaction of its kind ever executed in the history of Hong Kong SAR. It is unprecedented both in scale and complexity, involving a diverse group of leading Hong Kong and international financial institutions from around the globe. The matter required the structuring, negotiation and implementation of complex intercreditor arrangements unique to the real estate sector, marking a significant milestone in the evolution of Hong Kong’s financing landscape.

The transaction was successfully executed within an incredibly compressed timeline for a deal of such scale, setting a new benchmark for speed and efficiency in the market. Linklaters mobilised its entire firm and leveraged expertise across all practice areas to support our client comprehensively at every stage of the transaction.

The Linklaters cross-practice team was led by partners William Liu, Bernard Chain, Maggie Ng, Terence Lau, Roger Cheng, and counsel Su Ern Lee and Roberta Cheung.

We are extremely proud to have advised on such a significant transaction for New World Development – one of the firm’s most important clients, and a company that plays a crucial role in the continued prosperity and stability of Hong Kong, one of our key markets globally.