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Latham & Watkins Advises on US$422 Million Bond Restructuring for Dr Peng Telecom
June 4, 2020
Asia team represents largest private telecom operator and internet service provider in China on innovative transaction.
Latham & Watkins has advised Dr Peng Holding Hongkong Limited and Dr Peng Telecom & Media Group, the largest private telecom operator and internet service provider in China, on the restructuring of the US$422 million 5.05% bonds due on the 1st June 2020, by way of a consent solicitation process.
The proposed consent terms include an extension of the maturity date, an increase in interest rate, two further mandatory redemptions, and improved credit support by way of new security.
The Latham team was led by Hong Kong finance partner Howard Lam, with associates Flora Innes, and Tian Lin, and Beijing associate Baihan Li. Advice was also provided by London corporate partner Lene Malthasen and associate Harrison Armstrong.