Dacheng Assists China Development Bank in Loan Financing for Oriental Energy’s Overseas Subsidiary

Recently, Dacheng senior partner Guo Qing and his team, commissioned by China Development Bank Suzhou branch, provided all-round legal counsel for the bank’s dollar lending to Oriental Energy (Singapore) International Trading Pte., Ltd., a Singapore-based wholly-owned subsidiary of Oriental Energy Company Limited (hereinafter referred to as “Oriental Energy”).
 
Oriental Energy is an integrated operator engaged in the procurement, storage and transportation, wholesale and terminal retail of clean energy with a focus on the production and sales of liquefied petroleum gas (“LPG”) and related international trade. The company was launched on the Shenzhen Stock Exchange in March 2008. Oriental Energy (Singapore) International Trading Pte., Ltd. is a wholly-owned subsidiary responsible for purchasing offshore LPG on behalf of Oriental Energy and its other subsidiaries.
 
The project, which involved PRC, Singapore and Hong Kong laws, was advised jointly by attorneys from Dacheng’s offices in Beijing, Singapore and Hong Kong. The attorneys’ work included reasoning for the financing structure, conducting due diligence, drafting contracts and offshore registration of pledge. The project team was led by senior partner Guo Qing and composed of attorneys Wang Chunyang and Xiong Zhou as well as peers from Singapore and Hong Kong.