Pinsent Masons advises Bank of China on the project financing of an integrated stainless steel plant.

05 Jan 2021 | 10:55 am | 1 min. read

Multinational law firm Pinsent Masons has advised the Bank of China and a syndicate of 11 banks on the project financing of an integrated stainless steel plant located in South Sulawesi, Indonesia.

This project is the largest overseas investment from Xiamen in China’s history and is one of the largest project financings in Asia in 2020 and promoted by the Chinese government as a "a classic example of Belt-and-Road Initiative in practice".

The project financing comprised a complex, multi-layered dual-currency facility permitting drawings in both RMB and USD and is structured to benefit from coverage from both SINOSURE and commercial insurance.  The syndicated financing facility comprised of 7 onshore and 4 offshore lenders, including Bank of China, China Development Bank, Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, CITIC Bank, China Merchants Bank and Tai Feng Bank. 

To ensure bankability, a multi-jurisdictional credit enhancement arrangement was put in place and a robust inter-creditor mechanism was negotiated between different creditor groups and bondholders.

Kanyi Lui, lead partner from Pinsent Masons said, "As we continue to see more sophisticated financing deals in China due to higher funding costs and increasing regulatory scrutiny, having the right expertise and resource across multiple jurisdictions and throughout the project life cycle gives us a unique platform to ensure we deliver the best outcome for all stakeholders and the wider community."

The Pinsent Masons team spanned across Beijing, Shanghai, Hong Kong and Singapore offices comprising specialists across in mining, construction, energy, infrastructure and financing. The teams included partners Kanyi Lui, Bryan Tan, David Platt, Paul Haswell and James Harris, legal director Norman Leung, solicitor Tiffany Ho, and associates Winnie Nie and Benjamin Tay.

Key Contacts

Latest press releases

Show me all press releases

Pinsent Masons continues to grow its structured finance team with new partner Igor Zyskind

Multinational law firm Pinsent Masons continues the expansion of its structured finance team with the appointment of partner Igor Zyskind in its London office.

Pinsent Masons advises Puma Energy on the issuance of $500m 7.750% high yield senior notes due 2029

Multinational law firm Pinsent Masons has advised global energy company Puma Energy on the Luxembourg aspects of the successful issuance of $500m 7.750% high yield senior notes due 2029.

Pinsent Masons Advises Ithaca Energy On Transformational North Sea Merger With Eni’s UK Upstream Business

Multinational law firm Pinsent Masons is advising leading UK independent exploration & production company Ithaca Energy plc on its transformational combination with Eni S.p.A.’s UK upstream oil and gas assets, establishing Ithaca Energy as the second largest independent operator in the UKCS by 2024 production.

People who viewed this press release also viewed

Show me all press releases

Pinsent Masons promotes 22 to its partnership

Multinational law firm Pinsent Masons has boosted its global professional services capabilities with the promotion of 22 new partners.

Pinsent Masons recognised in China Business Law Journal's Deals of the Year 2023

Multinational law firm Pinsent Masons has been recognised in the Projects Deal of the Year category of the China Business Law Journal’s (CBLJ) Deals of the Year 2023 list for the firm’s work on the landmark NEOM Smart City Project in Saudi Arabia.

Pinsent Masons advises Bestinver Infra, FCR on acquisition of remaining shares in Irish toll road concession & operation companies

Pinsent Masons has advised Bestinver Infra, FCR on the acquisition of the remaining shares in N6 (Concession) Holdings Limited and N6 (Operations) Ltd, with Japanese co-investor Daiwa Energy & Infrastructure Co. Ltd.

For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on

+44 (0)20 7418 8199 or 

Location contacts

We are processing your request. \n Thank you for your patience. An error occurred. This could be due to inactivity on the page - please try again.