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Conyers Dill & Pearman provided BVI and Cayman Islands law advice to Agile Group Holdings Limited in connection with its HK$6.7 billion club term loan facility with a greenshoe option of HK$2 billion secured by guarantees and charges over its BVI subsidiaries pursuant to an existing intercreditor agreement.
To protect the priority of the existing security governed by the intercreditor agreement, the existing security package had to be restructured by the grant of specific additional security to preserve and maintain the order of priority under the existing security package before the grant of further security under the HK$6.7 billion bank financing to maintain the status quo.
Agile Group Holdings Limited is an investment holding company and is primarily engaged in the development, management and investments of properties in China.
Paul Lim of Conyers’ Hong Kong office, advised on the matter working alongside White & Case and Sidley Austin.