Shanghai, 14 December 2004 – LAWFUEL – First for law news – Global law firm Clifford Chance has advised International Finance Corporation (“IFC”) on a US$72.9 million financing package to Jiangxi Chenming Paper Company, in IFC’s largest financing in Jianxgi Province in China.
IFC is providing US$72.9 million in equity and loans for its own account and is arranging a US$205 million limited recourse project financing. The project is expected to be one of the largest joint ventures in Jiangxi, and is one of the first foreign investment projects to be approved by the Ministry of Commerce of the People’s Republic of China (MOFCOM) after the promulgation of the State Council’s investment reform regulation of July 2004.
Clifford Chance’s Shanghai office acted as international transaction lawyers on the deal. The team was supervised by partner Stephen Harder and led by senior lawyer Tan Ting Ting, with assistance from associates Angela Chen and Sherry Shen.