Sidley Advises on US$1 Billion (HK$8.2 Billion) Refinancing for The Corniche

Sidley represented Unicorn Bay (Hong Kong) Investments Limited, the joint venture between Logan Group Company Limited (“Logan Group”) and KWG Group Holdings Limited (“KWG Group,” together with Logan Group, the “Listcos”), as borrower on the successful closing of a HK$8.2 billion (US$1.05 billion) loan facility, secured by the fully developed luxury residential property “The Corniche” located on the Ap Lei Chau waterfront in Hong Kong in 2024. The refinancing facility has been utilized to fully repay the existing syndicated project loan facility.

“The Corniche” is a significant offshore asset of the Listcos. The closing of this refinancing facility is expected to play a pivotal role in supporting the ongoing offshore debt restructuring efforts of the Listcos, providing them with necessary liquidity.

The facility is arranged by a major U.S. investment bank and provided by a consortium of an international bank and private credit funds.

The Sidley team was led by partner Olivia Ngan. Other team members included counsel Alan Wong, senior managing associate Dora Pan, managing associates Kelly Lam and Sammi Lee, and legal manager Kenny Wong.

Sidley has been ranked as “Leading International Firm in Banking & Finance” by Chambers Greater China Region 2024-2025, “Leading Firm: Banking and Finance in Hong Kong” by Legal 500 Asia Pacific 2023–2025, and “Firm of the Year: Banking and Finance” at the China Business Law Awards 2023. The team has received a number of accolades by independent organizations including The Asset and IFLR Asia-Pacific Awards.