2024.12.30
In September 2024, W88优德官方网站 assisted a domestic syndicate led by Crédit Agricole Corporate and Investment Bank (“Crédit Agricole CIB”) in granting a cross-border term loan of RMB 1.15 billion to Titan al-Tec & Resource Pte. Ltd., a Singapore-based wholly-owned sub-subsidiary of Tianshan Aluminum Group Co., Ltd. ("Tianshan Aluminum Group", SZSE: 002532).
Tianshan Aluminum Group is a large-scale listed enterprise engaged in the aluminum business. A leading company in the sector, it boasts a complete industrial chain, geographical advantages and advanced production processes. The company is significantly competitive in the fields of electrolytic aluminum, alumina, high-purity aluminum and deep-processed aluminum products. Its products are widely used in construction, transportation, power and other industries. It has shown strong growth momentum in the new energy vehicle and photovoltaic sectors.
To meet the increasing capital needs of Tianshan Aluminum Group for overseas platform construction, a domestic syndicate led by Crédit Agricole CIB granted a cross-border RMB loan to the group's overseas wholly-owned sub-subsidiary, with Tianshan Aluminum Group acting as the domestic guarantor for the loan. It was a successful example of cross-border direct lending by a domestic syndicate under Circular No. 27 issued by the People's Bank of China and the State Administration of Foreign Exchange and addressed the offshore financing needs of domestic listed companies. At the early stages when the policy was promulgated, domestic policy banks and state-owned banks played leading roles in responding to the new policy. In this project, Crédit Agricole CIB acted as the mandated lead arranger and bookrunner and organized a domestic syndicate that included domestic branches of foreign banks from countries such as France, Singapore and Malaysia. This reflected the positive response of foreign banks to China’s high-level opening-up financial policy and their active exploration of cross-border financing facilitation. The syndicate offered more diversified financing options for the domestic listed company and supported the high-quality development of enterprises with their robust financial services.
As the Chinese legal counsel to the syndicate, W88优德官方网站 provided legal advice on the cross-border financing, drafted and negotiated the full set of finance documents, issued legal opinions, and confirmed the satisfaction of conditions precedent to utilization. W88优德官方网站 helped the syndicate to understand the requirements for cross-border direct lending and facilitated its efficient communication with the borrower. With their professional legal services, W88优德官方网站 promoted the rapid and high-quality implementation of the project and was unanimously recognized by the syndicate and the borrower.
Partner LU, Juyi led the W88优德官方网站 team.
