Linklaters advises on China SCE Group’s US$2.3bn offshore debt restructuring

Linklaters has advised the Co-ordinating Committee of Lenders on the successful restructuring of US$2.3bn of offshore debt of China SCE Group Holdings Limited (China SCE Group), a Hong Kong-listed Chinese real estate group.

Under the restructuring, China SCE Group’s existing offshore debt was exchanged for a combination of cash, new debt instruments, mandatory convertible bonds and shares.

The restructuring was implemented by way of a scheme of arrangement in Hong Kong. The scheme was sanctioned by Hong Kong court on 16 June 2026 and the restructuring became effective on 23 October 2026 following the satisfaction of restructuring conditions under the scheme.

The Linklaters team was led by restructuring & insolvency partners Richard Woodworth and Roberta Cheung and banking partner Bernard Chain, with support from Nicole Tang and Brandon Hui. The core team also included capital markets partners Taiki Ki and Christian Felton and financial regulation group partner Kishore Bhindi.

With 50 years of on-the-ground experience in Hong Kong SAR and across Asia, Linklaters combines deep local insight with the strength of its global platform. The firm’s uniquely well-balanced restructuring and insolvency practice advises debtors, creditors and other stakeholders on major restructurings across the region, leveraging the firm’s global platform and multidisciplinary expertise. Recent mandates include advising Country Garden on the successful restructuring of approximately US$17.7bn of offshore debt.