Slaughter and May and Deacons have assisted on the MTR Corporation’s HKD30 billion (USD3.86 billion) syndicated green term loan. It is the largest unsecured international syndicated green term loan to date in Asia, the Middle East and North Africa regions by a Hong Kong corporation, with a tenor of seven years or longer.
The international capital market has shown a strong interest in the loan, with 57 banks from Asia, Europe, the US and the Middle East involved as lenders. The MTR Corp increased the loan amount from HKD23 billion to HKD30 billion due to an oversubscription of five times.
Slaughter and May, led by partner Lisa Chung, acted as the MTR Corp’s legal counsel. Deacons represented the syndicated lenders, with partners Michael Sinn and Crystal Li responsible for the deal.
Deacons also facilitated the Korea Development Bank in providing a HKD780 million bilateral green revolving loan to the MTR Corp. These two loans will finance and refinance the MTR Corp’s green investment projects.
