China Forestry says it will use the loan for general corporate purposes
Global firm Ashurst has played a role in Beijing-based China Forestry Group’s US$168m offshore loan.
Ashurst acted as the lead counsel to China CITIC Bank International, Mizuho Bank, Shinhan Bank, Tokyo Star Bank, Kookmin Bank, Chiyu Banking Corporation, and Tai Fund Bank on a syndicated loan facility, with a green shoe option, for China Forestry.
China Forestry is a forestry enterprise set up directly under the Chinese State Forestry Administration. It is currently the only forestry company supervised by China’s state-owned Assets Supervision and Administration Commission of the State Council. China Forestry said that the loan will be used for general corporate purposes.
The Ashurst team was led by partner Eric Tan, supported by associates Longman Hu, Eugene Ang, and Phoebe Chen.