DEALS
Zhong Lun Advises Mizuho Corporate Bank, Ltd on an Acquisition Financing
Zhong Lun Advises Mizuho Corporate Bank, Ltd on an Acquisition Financing
Mizuho Corporate Bank, Ltd and Anchorage Capital Partners (an Australia-based private equity firm, “Anchorage") successfully entered into agreements in respect of a US$27 million facility and relevant security arrangements. This facility is used to finance the acquisition of First Engineering Limited (“First Engineering") by Anchorage from a consortium of banks (including Mizuho Corporate Bank, Ltd). This transaction marks the exit of the consortium composed of Mizuho Corporate Bank, Ltd and other banks, following its leveraged buyout of First Engineering in 2007 and subsequent restructuring and debt-for-equity swap of First Engineering in 2009.
First Engineering is a leading manufacturer of ultra-precision moulds and plastic injection molded components for performance-critical engineering applications. It is headquartered in Singapore, with six production facilities in Malaysia, China, Singapore and India.
Wantao Yang (partner), Snow Wu, Karen Zheng and other professionals of Zhong Lun acted as the PRC legal counsel for Mizuho Corporate Bank, Ltd and provided PRC legal services to such acquisition financing and the previous restructuring and debt-for-equity swap.