Overview
Stephen has over 16 years’ experience of advising on a variety of financing and derivatives transactions in the public and private markets. In particular, he advises banks, financial sponsors and corporates on:
- equity financings and strategic equity derivatives over shares listed on the stock exchanges of Hong Kong SAR, the US, mainland China, Thailand, the Philippines, Japan, Germany, Sweden and elsewhere
- private credit transactions, including senior direct lending, holdco financings and pre-IPO financings
- repackagings and other structured credit transactions
- rates, FX and commodities hedging transactions, including in connection with infrastructure financings and M&As
- trading relationships, including bespoke collateral arrangements and close-outs
He is fluent in English and Chinese Mandarin.
Work Highlights
Among many innovative transactions, Stephen advised:
- a leading Asia-Pacific private credit fund on its holdco loan secured on a controlling stake of a Hong Kong-listed property services company and the associated back-leverage arrangements
- the dealer and financier in relation to a US$1bn minority investment in an unlisted PRC insurance company, the related market access arrangements and the associated margin financing
- numerous brokers in lobbying for changes to the rules of Hong Kong Exchange to permit broker-led, automatic share repurchase programmes
- the broker in relation to the first-ever guaranteed discount to VWAP share repurchase programme in the Hong Kong market
- the dealers in relation to Country Garden’s convertible bond with call spread overlay, the first of its kind in the Hong Kong market
- the International Swaps and Derivatives Association on the drafting the 2011 Equity Derivatives Definitions
- the hedge providers in relation to the financing of numerous offshore wind and solar projects in the Asia-Pacific region, including Formosa 1, Formosa 2, Yunlin, Thunderball and Hai Long
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