Simmons & Simmons advise deal

29 Jan 2000

Simmons & Simmons advises BNP Paribas as arranger of HK$250m syndicated loan facility to Chevalier

International law firm, Simmons & Simmons recently advised BNP Paribas Hong Kong Branch, as agent and arranger of a HK$250 million syndicated loan facility made to Chevalier (HK) Limited. The facility has been guaranteed by Chevalier International Holdings Limited.

The syndicate of lenders comprised seven banks including The Sanwa Bank, Limited, Hong Kong Branch and Industrial and Commercial Bank of China (Asia) Limited as co-arrangers.

Chevalier which operates a variety of businesses ranging from construction, engineering, property investment and management to office equipment is intending to expand into Malaysia, Singapore and Thailand. It is expected part of the proceeds from the heavily oversubscribed facility will be used to develop the Group's pipeline rehabilitation business in Asia.

The Simmons & Simmons team comprised Richard McKeown, head of the International Finance Group and Harriet Unger, a solicitor in that Group.

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Notes for editors:

Simmons & Simmons is worldclass law firm with offices in London, Paris, Brussels, Düsseldorf, Lisbon, Milan, Rome, Madrid, Abu Dhabi, Hong Kong, Shanghai and New York with over 1,400 staff worldwide. For further information on Simmons & Simmons please visit our website at www.simmons-simmons.com.

2. Simmons & Simmons' Hong Kong office provides a full range of legal services to a wide base of major multinational companies, international investment banks, government agencies and local companies. The office has 65 lawyers including 13 partners and a total staff of over 140. The office has extensive experience of corporate, international finance, commercial litigation, intellectual property, construction and property matters. The Hong Kong office works closely with the Shanghai office advising clients in Hong Kong, the PRC and throughout Asia.

3. A photograph of Richard McKeown is available upon request.

For further information, please contact:
Kate Williams, Marketing Manager on (852) 2583 8235 or via e-mail at kate.williams@simmons-simmons.com
35th Floor, Cheung Kong Center, 2 Queen's Road Central, Hong Kong, Tel: 852 2868 1131 Fax: 852 2810 5040

Simmons & Simmons 35th Floor, Cheung Kong Center 2, Queen's Road Central, Hong Kong, Tel (852) 2868 1131, Fax (852) 2810 5040, DX 009121 Central 1