John Shum

John Shum is a partner in our Banking & Finance practice, based in our Singapore office.

John has been advising financial institutions, corporate borrowers and funds for over twenty years on banking, financing and restructuring matters, including:

  • Structured finance
  • Leveraged and acquisition finance
  • Syndicated finance
  • Real estate finance
  • Trade finance
  • General corporate finance
  • Project finance
  • Fund finance
  • Share-backed finance
  • In- and out- of- court restructuring (including under US Chapter 11 and the new Singapore insolvency regime)

Prior to Singapore, John practiced in London, Miami, New York and Hong Kong.

John currently focuses on cross-border financings and restructurings in the South-East Asia market, as well as in Hong Kong and China.


Representative matters[1]

Acquisition and Leveraged Finance

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  • Qingdao Haier Co., Ltd in connection with the US$3.3 billion term loan facility provided by China Development Bank Corporation to finance its US$5.4 billion acquisition of the appliance business of General Electric. The deal was named “Cross-border M&A Deal of the Year” by The M&A Advisor International Awards 2017.

  • UBS Securities Pte. Ltd. on the KRW 360 billion mezzanine financing of The Carlyle Group’s US$1.93 billion cash buyout of South Korean security business ADT Korea from Tyco International Ltd. The all-cash acquisition by The Carlyle Group is the largest private equity buyout deal in Korea since 2008. The deal won “South Korea Loan of the Year” at the IFR Asia Awards 2014.

  • HSBC, Hong Kong Branch and JP Morgan Chase Bank N.A., Singapore Branch on a EUR370 million term loan to a subsidiary of Philippines-listed liquor producer Emperador Inc. for the acquisition of a European-based beverage business.

General Bank Finance

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  • UBS AG Hong Kong Branch as mandated lead arranger and bookrunner on a US$430 million equivalent dual-currency secured term loan facility to Fortune Oil PRC Holdings Ltd. as borrower.

  • Mizuho Bank, Ltd. as mandated lead arranger and bookrunner and Mizuho Bank, Ltd., Hong Kong Branch as original lender and agent in a US$200 million syndicated term loan facility guaranteed by First Pacific Company Limited to fund part of First Pacific group’s bond repurchase strategy.

  • CMB Wing Lung Bank, Limited in relation to a US$1.125 billion equivalent dual-currency term loan facility to Far East Horizon Limited arranged by, among others, Wing Lung Bank, Limited.

  • A group of 15 banks in a US$850 million financing to a resources group in Indonesia.

  • Cathay United Bank Co., Ltd. in connection with US$78million mutli-tranche facility to PT Pusaka Jaya Palu Power an independent power producer in Indonesia for refinancing and corporate restructuring purposes.

  • Credit Suisse AG, Singapore Branch and Standard Chartered Bank, as mandated lead arrangers and bookrunners and Standard Chartered Bank as agent and offshore security agent in a US$150 million guaranteed and secured syndicated five-year term loan to Religare Global Asset Management, Inc., a subsidiary of Religare Enterprises Limited and the largest alternative asset management platform based out of India.

Project Finance

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  • The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch as Offshore Collateral Agent and Account Bank with respect to the US$230 million limited recourse project finance loan from Export Development Canada to PSN Enam, a special purpose vehicle affiliate of PT Pasifik Satelit Nusantara, for the development and launch of the PSN VI telecommunications satellite.

  • PT Bajradaya Sentranusa, an Indonesian independent power producer, in connection with a US$280 million secured refinancing by IFC and other lenders of the 180 MW run-of-river Asahan hydroelectric power project. This deal won the “2015 Asia-Pacific Multi-sourced Deal of the Year” award by IJGlobal Magazine.

  • China Development Bank Corporation on its commitment of up to US$750 million to fund the procurement, construction, installation and operation of solar power projects in New Jersey, USA with a total installed capacity of up to 300MW. The financing comprises both secured EPC financing to be provided to SPI Solar and secured long-term financing to be provided to KDC Solar. SPI Solar is listed on the NYSE and is the US-based subsidiary of LDK Solar, the Jiangxi China-based manufacturer of photovoltaic solar panels used in the project. KDC is a New Jersey-based installer and operator of solar power projects. The deal won 2012 “Deal of the Year” award from China Business Law Journal.

Real Estate Finance

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  • China CITIC Bank International Limited Singapore Branch in connection with the financing of a US dollar equivalent of approximately S$435 million term loan facility guaranteed by Fullshare Holdings Limitedfor the acquisition of commercial real estate in Singapore.
  • A leading Chinese bank on an aggregate US$27 million term loan financing to a Chinese-backed investment company for the purchase of land in Singapore.

  • Singapore- and Hong Kong-based financial institutions on a US$49 million syndicated term loan to repay existing construction loans and for financing a mixed-use real estate development enterprise in Wuxi, Jiangsu province. The transaction included an onshore “placeholder” loan.

  • A Hong Kong-based bank on a HK$1.863 billion syndicated financing for a Hong Kong-based real estate developer for a commercial real-estate development in Chengdu, Sichuan province. The transaction benefited from a bespoke onshore “placeholder” loan financing structure.

Take Private Financing / Privatizations

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  • Advising on over ten financings supporting the privatizations of US-listed Chinese companies:
    • China Minsheng Banking Corp., Ltd., Hong Kong Branch in financing the take-private of Le Gaga Holdings Limited by a consortium including Sequoia Capital, hedge fund Yiheng Capital and the NASDAQ-listed company’s chairman and CEO. Le Gaga Holdings Limited is one of the largest greenhouse vegetable producers in China.

    • China CITIC Bank International in a US$340 million financing to finance the privatization of NASDAQ-listed 3Sbio, a leading China-based biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products.
  • Wing Lung Bank Limited and Cathay United Bank in a US$50 million financing for the privatization of NYSE-listed Feihe International, one of the biggest producers of premium infant milk formula, milk powder, soybean, rice and walnut products in China. This was the first take-private of a US-listed Chinese company that included a simultaneously drawn onshore place-holder RMB loan and a cross-border intercreditor arrangement with the main offshore financing.

  • China Development Bank Corporation in providing US$400 million financing for the management buyout of NASDAQ-listed Harbin Electric, Inc. This is the third recent buyout of a Chinese company effectively delisting through the buyout of its shares from a US stock exchange, on which we have advised in recent months. The deal won 2011 “Deal of the Year” awards from both ASIAN-MENA COUNSEL and China Business Law Journal.

  • Standard Chartered Bank in providing US$70 million financing for the management buy-out of NYSE-listed Chemspec International Limited, a China-based contract manufacturer of highly-engineered specialty chemicals. The deal won a 2011 “Deal of the Year” award from China Business Law Journal and received “Honorable Mention” recognition from ASIAN-MENA COUNSEL.

Restructuring

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  • China Development Bank Corporation on the restructuring of their offshore corporate and project financing debt in respect of the liquidation of LDK Solar Co., Ltd., a Chinese manufacturer of solar power panels.

  • Utico, a UAE utility company, on their US$400 million restructuring agreement with Singapore-based Hyflux Limited

Qualifications

John is qualified to practice in the following jurisdictions:

  • England
  • New York
  • Hong Kong
  • Singapore (banking, finance, corporate and commercial law)

Languages

  • Mandarin
  • Cantonese
  • Bahasa Indonesian


[1] Including experience prior to joining King & Wood Mallesons

Location

Legal insights

With the volatility in world markets impacting on finance transactions, we look at certain key aspects of existing and future finance transactions under English and Australian law which we are...

06 March 2020

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