Simon Reid-Kay & Associates (SRKA) is pleased to announce that it served as Hong Kong real estate counsel to the syndicate of banks in the landmark HK$88.2 billion (USD11.3 billion) financing transaction for New World Development Company Limited. This significant undertaking, involving the refinancing and alignment of existing bank financings, positions the New World Development group to optimise its ongoing business and financial needs.
The transaction represents the largest re-financing of its kind executed in Hong Kong SAR history and required extensive experience and specialised knowledge. It is a deal of unprecedented scale, inherent complexity, and the notable speed of execution in a very compressed timetable.
The Simon Reid-Kay & Associates team, led by Cindy Au, was supported by (amongst others) lawyers Marium Butt, Ivy Chan and Jeffrey Wong. This involvement demonstrates SRKA’s capacity to provide advice on large-scale transactions within compressed timelines.
Cindy Au commented, “Navigating a transaction of this unprecedented scale and complexity demanded our deep expertise as well as seamless collaboration with all parties involved. This deal not only represents a significant milestone for New World Development but also sets a new benchmark for financing within Hong Kong’s dynamic real estate finance sector.”
We are delighted to have played our part in this pivotal transaction for the group of lenders to New World Development, a company integral to the continued prosperity and stability of Hong Kong. This highlights our firm’s capabilities in complex real estate financings.
