Ashurst advised on the issuance of Guaranteed Notes issued by Chinese property developer Gemstones
18 January 2024
Global law firm Ashurst acted as international counsel to LVGEM (China) Real Estate Investment Company Limited (綠景（中國）地產投資有限公司) ("LVGEM China"), acting as the guarantor, in the issuance by its wholly owned subsidiary, Gemstones International Limited, of (i) US$5.28 million 8% Guaranteed Commercial Paper Notes due 2025, (ii) HK$114 million 8% Guaranteed Commercial Paper Notes due 2025, and (iii) CNY40.5 million 8% Guaranteed Commercial Paper Notes due 2025 (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 Cathie Wong, Jianping Wang and Ivana Gu.
