Baker & McKenzie has advised Hong Kong-based Champion Real Estate Investment Trust (Champion REIT) on its $1 billion guaranteed medium term note programme.
Milton Cheng, head of the firm’s Greater China REIT practice, and partner Andrew Lockhart led the team that advised Eagle Asset Management, the REIT manager. Corporate partner Jason Ng represented HSBC Institutional Trust Services, the REIT trustee.
“The MTN programme is a particularly useful financing tool for real estate investment trusts as it gives them the ability to tap the debt capital markets swiftly and conveniently to raise money for their acquisition or other debt financing needs,” said Cheng in a statement.
“We have seen a number of notes and related debt capital markets issuances in Hong Kong over the last six months, mainly driven by demand from investors for quality debt securities offering good yields and the continuing challenges in the bank lending market,” said Lockhart. “We are seeing many REITs as well as companies across the region take a close look at their capital and financing needs, and expect that there will be a trend towards more such capital management measures in the coming months.”
Kanishk Verghese is North Asia journalist at ALB. Follow us on Twitter: @ALB_Magazine.
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