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Zhong Lun Advises on Ascendas Plaza Onshore and Offshore RMB One Point Five Billion Loan Project
Zhong Lun Advises on Ascendas Plaza Onshore and Offshore RMB One Point Five Billion Loan Project
In June 2013, OCBC and a real estate fund under Ascendas Group (“Ascendas") have successfully entered into the loan documents in respect of the acquisition financing project for restructuring the Ascendas Plaza within the group. OCBC and OCBC (China) Limited granted offshore and onshore facilities in an aggregate amount of over RMB1,500,000,000 to Ascendas for this project. The Zhong Lun team, led by Shirley Lu (partner) and also composed of Andy Li, Will Lu and Jianwei Yang (associates) from Shanghai Office, acted as legal counsel for OCBC and provided full-range legal services for this acquisition financing project.
Ascendas is a leading commercial real estate enterprise in Asia, engaging in the planning, development, management and marketing of the information & technology park, industrial park, logistic park and urban office buildings and shopping malls. Ascendas Plaza, seated at the central commercial and business spot of Shanghai Xuhui District, is a 30-storey office building with a total GFA of approximately 60,000sqm, in which numerous famous enterprises have chosen to settle.
