The restructuring of China Shuifa Singyes Energy Holdings Limited (750.HK) was named The Restructuring Deal of the Year 2020 of Asia Pacific
Admiralty Harbour acted as the financial advisor to China Shuifa Singyes and assisted the issuer in a successful restructuring of its offshore debt, as well as a controlling stake subscription by Shuifa Group, a state-owned conglomerate wholly-owned by the Shandong SASAC. This was the only successfully completed restructuring of Chinese issuers' USD bonds in 2019, and the first ever restructuring of Chinese issuers' USD bonds by way of introducing a white knight investor.
As The Banker magazine commented, through this effective restructuring, “Singyes avoided bankruptcy and preserved its business with both its management and operational continuity intact". This was the first restructuring mandate of Admiralty Harbour's since its inception. Since then, Admiralty Harbour also completed landmark transactions such as the consent solicitation of CMIG, and the distressed exchange offer of Yida China, among others.
We look forward to continuing the effort in effectively and innovatively managing offshore liabilities for our valued clients.