Ashurst advised on the issuance of Guaranteed Notes guaranteed by Chinese property developer LVGEM
28 September 2023
Global law firm Ashurst acted as the international counsel to LVGEM (China) Real Estate Investment Company Limted (綠景（中國）地產投資有限公司) ("LVGEM China"), as the guarantor, in the issuance by its wholly owned subsidiary, Gemstones International Limited, of (i) USD 4.99 million 7% Guaranteed Commercial Paper Notes due 2024, (ii) HKD191.5 million 7% Guaranteed Commercial Paper Notes due 2024, and (iii) CNY 41 million 7.00%Guaranteed Commercial Paper Notes due 2024 (the "Transaction").
Gemstones International Limited is a wholly owned subsidiary of LVGEM (China), a well-known comprehensive real estate developer and commercial property operator in Shenzhen, whose principal business segments include property development and sales, commercial property investment and operations as well as comprehensive services, and a Hong Kong listed company since 2005.
The notes were Euroclear/Clearstream cleared.
The transaction was led by restructuring partner Lance Jiang, supported by Jianping Wang, Cathie Wong and Ivana Gu. Most recently, the firm is named Restructuring and Insolvency Law Firm of the Year at the ALB Hong Kong Law Awards 2023.
