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Zhong Lun Advises Ad Hoc Committee of Noteholders on Successful Restructuring of Yuzhou Group’s USD 6.7bn Offshore Debt
Zhong Lun Advises Ad Hoc Committee of Noteholders on Successful Restructuring of Yuzhou Group’s USD 6.7bn Offshore Debt
Yuzhou Group Holdings Company Limited (“Yuzhou Group”, 01628.HK) has successfully completed the restructuring of its offshore debt of approximately USD 6.7 billion in principal amount. Listed on the Hong Kong Stock Exchange, Yuzhou Group is a leading PRC real estate developer whose residential and commercial projects span the Pearl River Delta, the Yangtze River Delta, and other core metropolitan clusters across China. The restructuring, which unfolded over three years, is one of Asia’s largest and most complex offshore debt restructurings of a real estate developer in recent memory, distinguished by its sizeable debt base, intricate architecture, and extensive onshore collateral and credit-enhancement package. The transaction obtained sanction orders from the High Court of the Hong Kong Special Administrative Region, the Grand Court of the Cayman Islands, and the relevant PRC regulatory approvals, providing robust protection for the interests of offshore noteholders.
Zhong Lun Law Firm served as PRC counsel to an ad hoc group of Yuzhou Group’s offshore noteholders. The team was led by partners Decai Zhang, Nelly Zhang, and Lijuan Wang, together with non-equity partner Jean Xiuling Lin. Core team members included associate Wanmeng Xu, Yuanyuan Zhang, and Shuwei Yin, as well as Huimin Dong. The success of this restructuring has further strengthened Zhong Lun’s track record in delivering comprehensive PRC legal services for cross-border debt restructuring transactions.
