Carey Olsen advises lenders on financing backing the successful bid by ESR Group Limited in joint venture to fund Hong Kong SAR logistics facility

Carey Olsen has advised a club of five lenders (comprising UOB, SMBC, MUFG, OCBC and CITIC Bank) on the BVI law aspects of term loan facilities to fund the winning bid by ESR Group Limited ("ESR") (HKEX Stock Code: 1821), acting through its wholly owned subsidiary in a joint venture with Chinachem Group ("Chinachem"), with a total capital commitment from shareholders of up to HK$14 billion (approx. US$1.79 billion) to develop a prime cold storage and logistics facility in Kwai Chung, Hong Kong.