David Lam

David Lam is a leading practitioner in cross-border financings with extensive experience in a wide range of lending transactions, including acquisition financing, pre-IPO financing, real estate financing, privatisation financing and general syndicated lending. He is highly praised by clients on his work advising Chinese sponsors.

He advises lead arrangers, lenders, sponsors and corporate borrowers.

He is fluent in Cantonese, Mandarin and English, and is qualified to practise Hong Kong, England & Wales, New South Wales (Australia) laws. He has passed the PRC Bar.

David has regularly ranked by leading legal directories including Chambers and IFLR1000 as a leading lawyer in the banking & finance space. Clients praised David for his “extensive knowledge  of cross-border financing transactions, in particular those with a PRC angle” and noted “We were very impressed with David’s knowledge and experience in dealing with both state-owned and privately owned Chinese clients. He’s well versed in both Hong Kong and PRC laws, and English, Cantonese and Mandarin.” – Chambers Global 2020

David championed KWM Hong Kong in its successful bid to become one of the first law firm partners to the Infrastructure Financing Facilitation Office (IFFO), established by the Hong Kong Monetary Authority, to facilitate infrastructure investments and their financings under China’s Belt and Road Initiative.

Recent representative experience

  • GF Holdings (Hong Kong) Ltd. on its HKD8 billion BOCHK arranged syndicated facility involving 35 participating banks for working capital and developing corporate bond or note issuance services purposes
  • HSBC as arranger’s counsel on a syndicated loan to China International Capital Corporation (CICC) involving 20 lenders. This is CICC’s first time as a borrower in the syndicated loan markets. Because of the borrower’s business model as a non-bank financial institution, a bespoke covenant package has been negotiated to accommodate the needs of the borrower, as well as the credit requirements of the lenders
  • China Molybdenum: advising on the acquisition financing from Bank of China, China Development Bank and China EXIM Bank for its USD2.65 billion acquisition of Tenke Mines in Congo.
  • China Construction Bank (Asia) in respect of RMB500 million syndicated loan to Shenzhen Qianhai Financial Holdings. This was considered a landmark case promoting the syndicate financing model in Qianhai
  • ICBC Limited and syndicate’s Hong Kong counsel in relation to a cross border loan facility of up to approx. US$1.4 billion in relation to the construction of a thermal power plant in Hai Duong, Vietnam
  • China Oilfield Services, an affiliate of CNOOC, as borrower on a US$1.5 billion secured facility to finance the US$2.5 billion acquisition of Awilco, a Norweigian oil and gas contractor, by a lending syndicate led by Bank of China
  • China Development Bank as English counsel in a US$700 million loan financing to PT Sumber Segara Primadaya, to build a Cilacap Expansion Coal Power Plant in Central Java, Indonesia with a capacity of 1X615 MW
  • Weichai Power on its €400 million acquisition financing guaranteed by state-owned Weichai Power, for the US$2.1 billion acquisition by its subsidiary, German industrial truck maker Kion Group, of Dematic Corp. of the US, a logistics technology company

Reputation

  • Leading Lawyer, Banking & Finance – Chambers Global 2020-2021
  • Leading Lawyer, Banking & Finance (China International) – Chambers Asia Pacific, 2015-2019
  • “Highly regarded” lawyer – IFLR1000, 2013-2021

Download David's profile in Chinese here.

Location

Legal insights

Very shortly, the U.S.-based Alternative Reference Rates Committee (ARRC) will make its much-anticipated formal recommendation of forward-looking term Secured Overnight Financing Rates (Term SOFR)...

27 July 2021

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