LAWFUEL – The Law News Network – The Hong Kong Housing Authority listed The Link REIT, Hong Kong’s first and the world’s largest public offering of a real estate investment trust, in November 2005. Freshfields Bruckhaus Deringer advised HSBC and Hang Seng Bank, as lenders to The Link REIT, on the HK$12.5bn bridge loan facility. The purpose of the facility is to fund the consideration for the acquisition of the properties from the Housing Authority and The Link REIT’s working capital requirements.
The loan size was larger than the HK$8.6bn loan that was originally planned in 2004.
The Freshfields team was led by Hong Kong based partners, Clive Rough and Patrick Lines. Associates Vinnie Lam and Clement Kwok were also involved in the transaction.
The Link REIT was heavily oversubscribed. Its portfolio consists of 151 shopping malls and 79,000 car parking spaces at public housing estates located all over Hong Kong.