International law firm Withers recently represented Park Amber Limited, a joint venture between Amber Global Capital Limited and Park Capital Group Limited, as the sole lead arranger of a HK$700 million refinancing transaction secured by an ultra-luxurious residential property in Hong Kong and other securities and credit enhancement arrangements granted by borrower and its affiliates.
The Withers team was led by partner Daniel Tang, supported by Ryan Chiu, Billy Yuen, Helen Kwong and Quinncy Wu.
Lending and borrowing parties consisted of high-net-worth individuals and/or their investment vehicles, and the transaction was highly negotiated to balance interests of all parties. The complexity of the matter was further exacerbated given the agreement was negotiated during the height of the Covid-19 pandemic, when market uncertainty was high.
Daniel Tang commented, “We are delighted to be a part of this transaction. The challenge of maneuvering through the various challenges with the various parties involved, despite the ongoing and unpredictable COVID-19 situation early this year, further showcases our team’s commitment in providing the best service to our clients.”