Baker McKenzie has recently advised BOCOM International Holdings Company Limited ("BOCOM International"), a subsidiary of the Bank of Communications Co., Ltd, on two new transactions in the midst of COVID-19.
The Firm advised a subsidiary of BOCOM International as lender in relation to a Hong Kong dollar term loan facility granted to the substantial shareholder of a Hong Kong-listed company to finance the payment obligations under the mandatory conditional cash offer made and triggered under the Takeovers Code.
The Firm also advised BOCOM International in relation to its Series A investment by way of subscription of preference shares in a new tech company and its subsidiaries that are engaged in the development, manufacturing, sales and maintenance services of medical equipment utilizing artificial intelligence technologies in Singapore and the PRC.
The HKD term loan deal was led by partner Ivy Wong, who is the Asia Pacific Chair of the Firm's Capital Markets Practice, and partner Simon Leung of the Firm's Banking and Finance Practice. They were assisted by Special Counsel Erika Wan and Associate Leslie Tsoi, all of whom are based in Hong Kong.
Partner Ivy Wong was also the lead partner on the Series A investment deal, with support from Special Counsel Janice Wong and Associates Karen Wong and Adriana Chiu, all based in Hong Kong.
Ivy Wong, who heads the Firm's Asia Pacific Capital Markets practice, said, "The uncertainty and market volatility caused by the COVID-19 pandemic has posed new challenges to dealmaking. However, drawing on our extensive experience and strengths in capital markets, private equity, financing and takeovers transactions, we are very pleased to have been able to bring the two deals to fruition for our longstanding client. They are great examples of how we, as a one-stop shop, are able to meet the different needs of our clients and the challenges of every kind of transaction at any given time and market condition."
Anna Wong, Deputy Head of Legal and Compliance of BOCOM International, said, "We are pleased to have Baker McKenzie advised us on these two deals. The breadth and depth of Baker's knowledge and experience in relation to the different aspects of the transactions and in the relevant industries have certainly made our life easier and the execution of the deals much smoother, particularly in the midst of a challenging market."
Fu Yang, Managing Director and Head of Private Equity of BOCOM International, said, "During this critical time when the healthcare industry and development are of particular relevance to the society and individual’s wellbeing, we are pleased to have completed another investment in the pharmaceutical, biotech and biomed sector with the advice from Baker McKenzie, and be able to play a part in promoting evolutionary and innovative developments of new technologies."