Conyers provided Cayman Islands and British Virgin Islands legal advice to Agile Group Holdings Limited (“Agile”) in connection with its US$500 million 5.75% Senior Notes due 2025 (the “Notes”)
The Notes are constituted under an Indenture and secured by subsidiary guarantees and permitted pari passu indebtedness share charges over BVI and Hong Kong subsidiaries (the “PPPSI Share Charges”) provided by the restricted subsidiaries of Agile.
The security provided is governed under an intercreditor arrangement with all existing creditors of the Company having the benefit of the shared collateral secured by the PPPSI Share Charges.
Agile is one of the leading property developers in China, focusing primarily on the development and sale of medium to large-scale high-quality residential properties in China. In addition, Agile develops commercial properties, including retail shops that are complementary to its residential properties, shopping malls, office buildings and hotels.
Partner Paul Lim and Associate Hollia Lam of Conyers’ Hong Kong office advised on the matter, working alongside Sidley Austin.