A cross-jurisdictional team from Conyers has advised long-standing client Golden Wheel Tiandi Holdings Company Limited (Golden Wheel) on its successful restructuring of its 3 tranches of New York law governed senior notes in an aggregate principal amount of approximately US$450 million.
Golden Wheel is publicly listed on the Hong Kong Stock Exchange (HKSE: 1232) and is a China-based investment holding company principally engaged in the property related businesses. The Company operates through two business segments: property development and property leasing. Golden Wheel is also involved in the property operation management business through its subsidiaries.
The restructuring, implemented by way of a scheme of arrangement in the Cayman Islands, was completed on April 11, 2022.
A link to Golden Wheel’s public announcement regarding the restructure can be found here.
The Conyers team was led by corporate partner Richard Hall and restructuring partner Erik Bodden who were supported by Counsel Alex Davies and Associate Ryan McConvey who advised on the Cayman Islands and British Virgin Islands legal and regulatory aspects of the restructuring. The Conyers team, who worked alongside Linklaters as onshore legal advisor, also appeared on behalf of Golden Wheel in the Grand Court of the Cayman Islands with respect to the scheme of arrangement.
Kirkland & Ellis LLP advised the ad hoc committee of Golden Wheel noteholders, Mayer Brown LLP advised the Indenture Trustee, D.F. King Ltd acted as Information Agent and the joint financial advisors to Golden Wheel were Alvarez & Marsal Corporate Finance Limited and Guotai Junan Securities (Hong Kong) Limited.