Ogier advises a group of syndicated lenders on a HK$8.8 billion green loan to ESR Group and Chinachem Group

Ogier has acted as BVI counsel to a syndicate led by Sumitomo Mitsui Banking Corporation, United Overseas Bank Limited and Oversea-Chinese Banking Corporation Limited on a HK$8.8 billion green loan to the ESR Group and Chinachem Group, one of the largest green loans in Hong Kong this year.

The five-year green loan will be used for the construction and operation of a cold storage and logistics facility in Kwai Chung, being the largest of its kind to be built in Hong Kong in the past two decades.

The Ogier team in Hong Kong was led by partner Anthony Oakes, with support from managing associate Yuki Yan and associate Jonathan Law. They worked alongside Mayer Brown (as lead counsel to the syndicate) and Allen & Overy (as lead counsel to ESR Group and Chinachem Group).

Anthony said: "It is great to see transactions of this size structured under green loan principles.  We are very proud to have advised the parties on this innovative green loan transaction, which contributes to the sustainable development of the logistics industry in Hong Kong."