Jacqueline Wenchen Tang

Restructuring and Liability Management Engagements

• A subsidiary of China Minsheng Investment Group in a consent solicitation in relation to its USD 3.8% guaranteed notes due 2024
• An ad hoc committee of offshore bondholders in a potential restructuring of over $19 billion offshore bonds issued by China Evergrande Group and its subsidiaries*
• An ad hoc committee of offshore bondholders in a potential restructuring of around $4 billion offshore bonds issued by Fantasia Holdings Group Co., Limited*
• An ad hoc committee of offshore bondholders in a potential restructuring of around $4.6 billion offshore bonds and perpetual securities issued by CIFI Holdings (Group) Co. Ltd.*

• An ad hoc committee of offshore bondholders in a potential restructuring of around $5.8 billion offshore bonds and perpetual securities issued by Yuzhou Group Holdings Company Limited*
• The ad hoc committee of noteholders in a successful restructuring of $450 million senior notes issued by Golden Wheel Tiandi Holdings Company Limited (1232.HK). The group principally engages in property development in the PRC. The restructuring was implemented through a scheme of arrangement in the Cayman Islands*
• The ad hoc committee of noteholders in a successful restructuring of $1.3 billion senior notes issued by Modern Land (China) Co., Limited (1107.HK). The group principally engages in property development in the PRC. This restructuring was implemented through a scheme of arrangement in the Cayman Islands and the scheme was recognized as a main proceeding under Chapter 15 of the U.S. Bankruptcy Code. This transaction was named “Deals of the Year 2022” by China Business Law Journal*
• A Singapore-based crypto company in its potential restructuring*
• An ad hoc committee of certain holders of $450 million 6% guaranteed bonds issued and guaranteed by subsidiaries of Tsinghua Unigroup Co., Ltd. with benefit of keepwell provided by the PRC company in connection with the onshore restructuring of the PRC company and the offshore enforcement actions*
• Liquidators of Nuoxi Capital Limited in connection with the enforcement of keepwell deeds and deeds of equity interest purchase undertaking against Peking University Founder Group Company Limited*
• Singyes Solar (subsequently branded as: China Shuifa Singyes Energy Holdings Limited) (750.HK) in restructuring its $425 million (in aggregate principal amount) senior notes due 2018 and 2019. This transaction was named “Finance Deal of the Year: Insolvency and Restructuring” by Asia Legal Awards 2020, “Turnaround Deal” by IFR Asia Awards 2020 and “Asia -Pacific Restructuring Deal of the Year 2020” by The Banker*
• An ad hoc committee of noteholders in the restructuring of $300 million senior notes issued by Rock International Investment Inc. and guaranteed by Shandong Yuhuang Chemical Co., Ltd. by way of a scheme of arrangement in the British Virgin Islands recognized under chapter 15 of the U.S. Bankruptcy Code*
• Yestar Healthcare Holdings Company Limited (2393.HK) in the restructuring of its $200 million senior secured notes through a scheme of arrangement in the Cayman Islands*
• China Minsheng Investment Group and certain of its subsidiaries in connection with liability management exercises with respect to the $800 million (in aggregate principal amount) senior bonds due 2019 and 2022 issued by Boom Up Investments Limited*
• CAR Inc. (699.HK) in its consent solicitation for amendments to change of control related terms of the relevant indentures constituting $300 million 6% senior notes, RMB750 million 6.5% senior notes and $372,333,000 8.875% senior notes issued by the company*
• CAR Inc. in its issue of $250 million 9.75% senior notes due 2024*
• CAR Inc. in its issue of $175 million of convertible bonds to Mcqueen SS Ltd, an affiliate of MBK Partners*
• China Shuifa Singyes Energy Holdings Limited (750.HK) in its offer to repurchase for cash its USD senior notes due 2022*
• An ad hoc committee of holders of the $200 million 7.25% guaranteed senior notes due 2020 issued by Reward International Investment Limited and guaranteed by Reward (HK) International Co., Ltd. and Reward Science & Technology Industry Group Co., Ltd. in connection with a potential restructuring of the company*
• An ad hoc committee of holders of $500 million senior notes due 2020 issued by Huachen Energy Co., Ltd. in connection with the company’s debt restructuring and PRC bankruptcy reorganization proceedings*
• An ad hoc committee of holders of certain guaranteed USD senior notes issued by certain subsidiary of China Energy Reserve and Chemicals Group Company Limited and guaranteed by or with the benefit of a keepwell provided by the company*
• An ad hoc committee of holders of the $440 million 7.00% senior guaranteed notes due 2020 issued by Tunghsu Venus Holdings Limited and guaranteed by Tunghsu Group Co., Ltd. in connection with a potential restructuring of the company*
• An ad hoc committee of holders of the $300 million 7.25％ senior notes due 2020, $250 million 7.875％ senior notes due 2021, and $300 million 6.40％ senior notes due 2021 issued by Qinghai Provincial Investment Group Co., Ltd.*
• Financial advisor to Winsway Enterprises Holdings Limited in its restructuring of 8.50% senior notes due 2016*
• Hidili Industry International Development Limited in restructuring its USD senior notes*

Debt

• Hillhouse in the financing for its 100% acquisition of SK EcoPrime
• BOCI Asia Limited, The Hongkong and Shanghai Banking Corporation Limited, Guotai Junan Securities (Hong Kong) Limited, SBI China Capital Financial Services Limited, China Everbright Securities (HK) Limited and Sun Hung Kai Investment Services Limited, as joint bookrunners and joint lead managers, in the issuance of $260 million 7.95% senior notes by China Singyes Solar Technologies Holdings Limited (750.HK), a curtain wall installation and solar engineering, procurement and construction companies in China*
• Haitong International Securities Company Limited in its investment of up to an aggregate principal amount of $150 million of certain senior secured notes issued by certain Cayman issuer*
• China Grand Automotive Services Co., Ltd., a leading passenger vehicle dealership and automobile services group and the leading passenger vehicle finance leasing provider in China, in its issuance of $400 million of senior perpetual securities*
• Hidili Industry International Development Limited in its successful tender offer and consent solicitation in respect of its $400 million 8.625% senior note due 2015*
• A leading automotive manufacturing company in China in its Regulation S offering of senior notes*
• Sole underwriter of an offering of $300 million 8.75% senior notes due 2018 by Hsin Chong Construction Group Ltd., a provider of building construction and civil engineering services. The transaction included an initial offering of $250 million of the notes and a tap offering of an additional $50 million*
• Honghua Group Limited, a provider of oil and gas drilling equipment and oil and gas engineering services in its $200 million Rule 144A/Regulation S offering of 7.45% senior notes due 2019. The notes were listed on the Hong Kong Stock Exchange. This was the inaugural offering of high-yield bonds by Honghua Group*
• Sunshine 100 China Holdings Limited, a real estate developer in its offering of US$115 million 12.75% senior notes due 2017. The notes were listed on the HKSE. This was the inaugural offering of high-yield bonds by Sunshine 100 China*
• Huaneng Renewables Corporation Limited, a renewable energy company focused on wind power generation, in its HK$1.55 billion ($204 million) private placement of new H shares*
• J.P. Morgan Securities plc, Goldman Sachs (Asia) L.L.C., The Hongkong and Shanghai Banking Corporation Limited, Deutsche Bank AG, Singapore Branch, CLSA Limited and Wing Lung Bank Limited, as initial purchasers of an offering of $900 million 7.5% senior notes due 2020 by Country Garden Holdings Company Limited, a real estate property developer. The notes were listed on the Singapore Stock Exchange*
• Credit Suisse, Citi, ICBC International Capital, RBS and Morgan Stanley, as joint bookrunners in an offering of $100 million 13.25% senior notes due 2018 by Mingfa Group (International) Company Limited, an investment holding company focused on property development*
• Underwriters in a $100 million Rule 144A/Regulation S high-yield offering of 13.75% senior notes due 2018 by Wuzhou International Holdings Limited, a real estate developer in China. The notes were listed on the HKSE*
• BOCI Asia Limited, as dealer manager of the consent solicitation of high-yield senior notes due 2014 issued by Shanghai Industrial Urban Development Group Limited in connection with its acquisition of a 60% interest in a real estate company from its parent Shanghai Industrial Holdings Limited, one of the largest overseas conglomerates under the Shanghai Municipal Government*
• Deutsche Bank AG, Singapore Branch, The Hongkong and Shanghai Banking Corporation Limited, The Royal Bank of Scotland plc and BofA Merrill Lynch as underwriters in an offering of $250 million 11.25% senior notes due 2018 by Powerlong Real Estate Holdings Limited*
• Citigroup and Deutsche Bank in the $2 billion debt offering by the Republic of Hungary*
• One of the largest Indian real estate developers in its proposed $250 million high-yield debt offering*
• Star Asia Finance, LLC in its issuance of $74 million junior subordinated notes and simultaneous exchange of trust preferred securities*

Hong Kong Initial Public Offerings, U.S.-Registered Offerings and other Equity Transactions

• AP Acquisition Corp. (NYSE: APCAU), a special purpose acquisition company associated with Advantage Partners, on its NYSE IPO that raised $172.5 million. AP Acquisition Corp focuses on the de-carbonization and renewable energy sectors, with a particular focus in Japan/Asia (excluding Mainland China, Hong Kong and Macau) and European markets*
• Studio City International Holdings Ltd., in its $359 million initial public offering and listing on the New York Exchange. Studio City is a world-class gaming, retail and entertainment resort located in Cotai, Macau*
• The underwriters in the HK$699 million ($90 million) global initial public offering and listing of shares on the HKSE of China Metal Resources Utilization Limited, a copper recycler and producer of downstream copper products*
• The underwriter of the proposed (but ultimately not completed) global initial public offering and listing of shares on the Main Board of the HKSE of Nanxiang Holding Limited, a leading developer and operator of trade and logistics centers in China*
• The underwriters in the proposed (but ultimately not completed) listing on the Main Board of the HKSE of Zhuhai Da Heng Qin Company Limited, a Chinese state-owned enterprise established for the construction and development of Hengqin Island*
• The underwriters in the proposed (but ultimately not completed) listing on the Main Board of the HKSE of a company which holds mining rights to one of the world’s largest potash reserves*
• The underwriters in the $337 million Rule 144A/Regulation S follow-on offering of common stock by Melco Crown (Philippines) Resorts Corporation, the joint developer and the operator of City of Dreams Manila, a $1.3 billion, 950-room integrated resort in the Philippines*
• The underwriters in the $230 million Rule 144A/Regulation S offering of shares by Bloomberry Resorts Corporation, the developer of Solaire Manila, a resort and gaming complex located in Entertainment City in the Philippines*
• Inner Mongolia Yitai Coal Co., Ltd. in its proposed (but ultimately not completed) global initial public offering and listing of shares on the HKSE*
• Hersha Hospitality Trust, a New York Stock Exchange listed company in its follow-on offering of $5.6 million common shares*
• The selling shareholder in the IPO of SinoTech Energy Limited, whose ADSs were to be listed on Nasdaq Global Market*
• RAM Holdings Ltd., a Bermuda-based provider of financial guaranty reinsurance in its tender offer for preference shares*
• Galiot Capital Corporation, a real estate investment trust (REIT) in its proposed listing on the NYSE. Galiot Capital Corporation is externally managed and advised by Fischer Francis Trees & Watts, Inc., a registered investment adviser and an indirect wholly-owned subsidiary of BNP Paribas*
• The underwriters in the proposed initial public offering and listing on the HKSE and simultaneous Rule 144A and Regulation S offering by a solar glass manufacturer in China. The transaction was ultimately abandoned*
• The Bank of New York Mellon as depositary on numerous OTC (Level I) ADR (American Depositary Receipt) offerings and ADR listings (Level III), including ABSA Group Limited, Actelion Pharmaceuticals Limited, Argus Solutions Limited, Biovitrum AB (publ), Bravura Solutions Limited, Buccaneer Energy Limited, Carlos Casado S.A., Commonwealth Bank of Australia, China Hydroelectric Corporation, CMA Corporation Limited, Continental Coal Limited, Eastern Star Gas Limited, Fermiscan Holdings Limited, GCL Silicon Technology Holdings Inc., Healthzone Limited, Hikma Pharmaceuticals Plc, Industrea Limited, JSC “RUSHYDRO”, Lecico Egypt S.A.E., Nighthawk Energy Plc, Nkwe Platinum Limited, Orascom Construction Industries S.A.E., Range Resources Limited, Reed Resources Ltd., Telecom Egypt, S.A.E and X5 Retail Group N.V.*
• Numerous companies on their OTC (Level I) ADR offerings, including AirAsia, Banco Cruzeiro do Sul S.A. and EFG-Hermes*

Mergers and Acquisitions

• Near Intelligence Holdings, Inc., a global SaaS leader in privacy-led data intelligence on people, places and products, on its business combination with KludeIn I Acquisition Corp. (NASDAQ: INKA), a special purpose acquisition company*
• Car Inc. in its potential takeover by MBK Partners and its proposed issue of $175 million of convertible bonds to MBK Partners Special Situations fund. This transaction was named Private Equity Deal of the Year by Mergermarket China M&A Awards 2021*
• Mascotte Holdings Limited in the $97 million acquisition by Evergrande Real Estate Group Limited and Tencent Holdings Limited of a 75% stake in Mascotte*
• Mahaman Assets Limited, an entity controlled by Adrian Zecha, in its $225 million leveraged management buyout of Silverlink Resorts Limited*
• Suniva, Inc., a leading US manufacturer of high-efficiency, cost-competitive PV solar cells and modules in its sale to Shunfeng International Clean Energy Limited (SFCE), a fully integrated photovoltaic service provider engaged in solar power stations constructions and operations, solar products manufacturing as well as solar energy storage. SFCE is listed on the Main Board of the HKSE*
• Siemens Corporation in its merger with Dade Behring Holdings, Inc. Siemens is offering to acquire Dade Behring for an aggregate all-cash consideration of approximately US$7 billion. Dade Behring's shares are traded on Nasdaq Global Select Market*
• Vale in its proposed acquisition of Xstrata plc, a British mining company listed on the London Stock Exchange (with an approximate market cap of over $70 billion)*

Structured Capital Markets

• NYSE Euronext, Inc., in its $3.1 billion Euro commercial paper program*
• Orion Finance Limited, as issuer of ECP, EMTNs and Capital Notes and guarantor of USCP and USMTNs, and Orion Finance (USA) LLC as issuer of USCP and USMTNs on the $42 billion restructuring of USCP, USMTN and Capital Notes programs*
• The initial purchaser of the rated notes and placement agent for the income notes on a $1.5 billion hybrid CDO deal issued by Tallships Funding Limited (issuer) and Tallships Funding Corporation (co-issuer)*

*Denotes representations undertaken prior to joining S&C