News

DeHeng Advised China Development Bank and ICBC Indonesia

on a Combined Loan of USD 75 Million to Tsingshan Holdings Group

2020-10-12


Recently, China Development Bank Xiamen Branch and Industrial and Commercial Bank of China (Indonesia) Co., Ltd. extended a combined credit line of USD 75 million (equivalent to more than RMB 500 million) to the 1x250MW power plant project in Sulawesi, Indonesia.


Tsingshan Holdings Group, the investor of the power plant, is a well-known stainless steel manufacturer in China, and ranks among the Fortune Global 500 and China’s top 500 companies in terms of composite corporate strength. The loan will be earmarked for the construction of the power plant in the Morowali area in Central Sulawesi Province, Indonesia. After completion, the power plant will greatly boost the energy supply and energy use efficiency in the region.


Acting as the legal counsel together with a local Indonesian law firm, the DeHeng team, led by partner Lin Ye, provided professional, high-quality, and efficient whole-process legal services including but not limited to due diligence of the target company, compliance analysis of the transaction structure, the issuance of legal opinions, the writing of documents for applying loans at home and abroad, and negotiation over procedural details.   

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