Yizhi (Shirley) Zhang

Shirley’s experience includes advising: 

• An ad hoc group of bondholders on the US$9.6 billion offshore debt restructuring of Sunac China Holdings Limited, a major Hong Kong-listed PRC property developer. This represents the first 100% “debt-for-equity swap” implemented by a PRC property developer since the start of the Chinese property sector crisis in 2021
• Hong Kong Airlines on the holistic restructuring of its US$6.2 billion debts and liabilities, including its guarantee of the US$683 million perpetual securities issued by Blue Skyview. This restructuring involves the first-ever parallel Hong Kong scheme of arrangement and UK restructuring plan. This transaction was awarded Cross-border Deal of the Year by China Business Law Journal’s Deals of the Year Awards 2022
• The mandated lead arrangers on the £1.6 billion term loan B and high-yield bonds for Motor Fuel Group’s acquisition of 340 petrol forecourts from Morrisons
• The ad hoc committee of term, RCF, and L/C lenders to ARVOS, the global manufacturer and supplier of industrial equipment, heat exchange, and transfer solutions, on its debt and equity recapitalization transaction, implemented via a UK scheme of arrangement
• Barclays Bank as sole physical bookrunner of the term loan B add-on provided to Pharmanovia