DEALS
Zhong Lun Advises on RMB One Billion Syndicated Loan to GMAC-SAIC Automotive Finance Company Limited
Zhong Lun Advises on RMB One Billion Syndicated Loan to GMAC-SAIC Automotive Finance Company Limited
In November 2012, the syndication (consisting of Crédit Agricole, Standard Chartered Bank, Bank of Communications International Trust, Korea Development Bank and Guangzhou Rural Commercial Bank), and GMAC-SAIC Automotive Finance Company Limited (“GMAC-SAIC") successfully entered into a facility agreement in respect of RMB One Billion syndicated loan project. The Zhong Lun team, led by Shirley Lu (partner) and also composed of Andy Li and Will Lu (associates) from Shanghai Office, represented the syndication and provided full-range legal services on this syndicated loan project.
GMAC-SAIC is a joint venture enterprise in Shanghai established by GMAC LLC (originally GMAC Financial Services), SAIC Finance and Shanghai GM. Its main business includes extending automobile loans to auto dealers, individuals and corporates. This syndicated loan will be used by GMAC-SAIC to satisfy its ever-growing capital demand arising from its business expansion on automobile loans, which will further propel GM Group and SAIC Group’s expansion in the China market.