DEALS
Zhong Lun Advises IFC on Cross-border Loan to Minsheng Education
Zhong Lun Advises IFC on Cross-border Loan to Minsheng Education
Recently, the International Finance Corporation, an affiliate of the World Bank, has granted a cross-border RMB facility in an aggregate amount of RMB400 million and a facility in an aggregate amount of USD51 million to an onshore subsidiary and an offshore subsidiary of Minsheng Education Group Company Limited (HK 1569) (“Minsheng Education") respectively, for the purpose of acquiring and upgrading tertiary and vocational education institutions, so as to support Minsheng Education’s scale expansion, business operation and promotion of tertiary education model.
Zhong Lun Law Firm acted as the PRC counsel of the International Finance Corporation in this cross-border loan transaction and provided a full spectrum of legal services including conducting the due diligence exercise, preparing and negotiating the loan documents, and assisting in the closing of transaction. The legal team was led by Shirley Lu, the partner of Zhong Lun, and the team members included Sophia Chen, Nina Zheng and etc.
Minsheng Education is one of China’s largest publicly listed private university companies, which not only sets up schools in Chongqing, Yunnan and other provinces, but also invests in educational institutions in Hong Kong, Singapore, Australia and other regions.
