Boya Shen

Boya Shen is an International Partner of Haiwen & Partners and Registered Foreign Consultant (England & Wales) of Haiwen & Partners LLP.

His practice includes banking and finance, project development and project finance, structured finance and energy & infrastructure.

Prior to joining Haiwen, Boya had been a partner in an international law firm and had worked in Hong Kong, Beijing and Africa offices of international law firms.

Acquisition, Take Private and Fund Finance

• Currently advising New Frontier Group in connection with Hong Kong Integrated Oncology Center’s financing provided by United Overseas Bank Limited relating to New Frontier Group’s acquisition of Hong Kong Integrated Oncology Center, a leading comprehensive private oncology medical platform.
• Advised Tai Fung Bank Limited (大豐銀行股份有限公司) as Lender in a HK$206,000,000 term loan facility to the Borrower in connection with the Borrower's acquisition of certain issued shares of J&T Global Express Limited (01519.HK), a company incorporated under the laws of Cayman Islands, and which is later listed on the Stock Exchange of Hong Kong Limited.
• Advised the Luxembourg branch of a leading PRC bank, as Agent and Security Agent, on a EUR 165 million term loan facility made to CGL Hungary VI Assets Investment Kft. and CGL Hungary EU Investment Management Kft., as Borrowers, in connection with their acquisition from the Singapore sovereign wealth fund, GIC, of a pan-European logistics property portfolio involving over 10 jurisdictions.
• Advised Tai Fung Bank Limited (大豐銀行股份有限公司) on an RMB 300 million term loan facility made to Eosaurora Limited in connection with its subscription of certain participating shares in a segregated investment portfolio for the ultimate purpose of investing in certain shares in a major PRC infrastructure company.
• Advised a Hong Kong-based asset management company, as borrower, in a US$120 million term loan facility made from Bank of Shanghai (Hong Kong) Limited, as agent, Bank of Shanghai (Hong Kong) Limited, The Shanghai Commercial & Savings Bank, Ltd., Hong Kong Branch, Fubon Bank (Hong Kong) Limited and Macao Development Bank Limited as original lenders, for financing the investment needs and refinancing existing indebtedness of the borrower.
• Advised a Hong Kong-based asset management company, as borrower, on a US$150 million term loan facility made from Neutron Three, an orphan special purpose vehicle, for financing a highly structured performance linked swap transaction.
• Advised a wholly-owned subsidiary of a Hong Kong-based asset management company, as borrower, on a HK$1.256 billion term loan facility made from Chong Hing Bank Limited, as Lender, for financing the borrower's payment under a highly structured performance linked swap transaction.
• Advised a wholly-owned subsidiary of a Hong Kong-based asset management company, as borrower, on a US$100 million term loan facility made from Tai Fung Bank Limited, as Lender, for financing a highly structured performance linked swap transaction.
• Advised Tai Fung Bank Limited (大豐銀行股份有限公司) on a HK$780 million term loan facility made to United Strength Harmony Limited, an investment holding company, in its acquisition of 1.594% of the issued shares of New Gains Group Limited.
• Advised Ping An Bank Co., Ltd., Hong Kong Branch on a HK$3 billion multicurrency term loan facility made to Mei Wah Industrial (Hong Kong) Limited, as Borrower, in its acquisition of the entire issued share capital of Shenzhen Investment International Capital Holdings Infrastructure Co., Ltd.
• Advised a leading PRC bank and its ten overseas branches in Europe and Asia Pacific on the US$3.5 billion financing to Spring Chem Ltd for the subscription of the of the perpetual bond issued by CNAC (HK) Golden Bridge Company Limited, a Hong Kong Subsidiary of China National Agrochemical Company Limited and China National Chemical Corporation (ChemChina).
• Advised a syndicate of PRC and international banks on the US$4 billion facility made to China Yangtze Power International (Hong Kong) Co., Limited on the acquisition of Peru's largest electric company Luz del Sur from Sempra Energy. The deal would be the largest acquisition made by a Chinese state-owned enterprise in the Americas since 2015.
• Advised a leading PRC bank as mandated lead arranger, bookrunner and underwriter and agent on a facility to COFCO (Hong Kong) Limited, a wholly-owned subsidiary of COFCO Corporation, China's largest food processing company with interests in, among others, agricultural commodities trading and agricultural products processing, to take China Agri-Industries Holdings Limited private pursuant to a scheme of arrangement.
• Advised a leading PRC Bank on the financing to Warburg Pincus for its investments in Ant Financial, the affiliate of Alibaba Group Holding Ltd. China's Ant Financial, raised about US$14 billion in what market watchers called the biggest-ever single fundraising globally by a private company, as it accelerates the expansion of Alipay globally and develops new technology. The financing makes Ant Financial the largest fintech firm in the world and equips it with enormous resources for expansion. The deal was awarded "Private Equity Deal of the Year 2018" by China Law & Practice Awards, "Deal of the Year 2018: PE/VC and Fintech" by China Business Law Journal and "Private Equity Deal of the Year 2019" by Asia Legal Awards hosted by The Asian Lawyer.
• Advised a leading PRC Bank as mandated lead arranger, bookrunner, agent and security agent on the US$850 million acquisition financing involving eight jurisdictions for the acquisition of all the issued shares of Sirtex Medical Limited, an Australian medical device company specializing in oncology treatment using Selective Internal Radiation Therapy (SIRT). The buyers CDH and China Grand Pharmaceutical and Healthcare Holdings Limited have jointly offered a total consideration of US$1.4 billion in cash for the acquisition. The deal was awarded "Inbound M&A Deal of the Year 2018" by Mergermarket Inaugural Australia M&A Awards and "Deal of the Year 2018: M&A" by China Business Law Journal.
• Advised a syndicate of international and PRC banks on the EUR2.2 billion multi-tranche and multi-currency financing to Beijing Automotive Group in connection with its acquisition of the public listed shares of a certain German automotive company.
  · Advised a leading PRC Bank as sole China lead arranger, bookrunner, mandated lead arranger and lender on the approximately US$4.3 billion and EUR1.8 billion term loan and US$900 million revolving loan facility transaction for the US$12.5 billion acquisition of 100% of Akzo Nobel's specialty chemicals business by The Carlyle Group and GIC.
• Advised a major PRC bank on the EUR6.8 billion acquisition loan to a Chinese sovereign investment corporation in connection with its approximately 12.25 billion euro acquisition of logistics assets in Europe. The deal was awarded "Real Estate Deal of the Year 2018" by China Law & Practice Awards.
• Advised a leading PRC Bank on a proposed US$10 billion acquisition loan to a Chinese power company in connection with the proposed acquisition of a public listed European utility company.
• Advised a leading PRC bank on the financing of US$44.8 million to Minsheng Education Group Company Limited for the acquisition of 100% of the shares of TCL Educational Web, an online education platform incorporated in the British Virgin Islands with business operations in multiple cities and provinces of China.
• Advised a leading PRC bank on the US$30 million revolving financing to Oaktree Pinnacle Investment Fund, L.P. The revolver shall operate as a sub line credit for financing the investment activities and working capital of Oaktree Pinnacle Investment Fund, L.P.
• Advised a leading PRC bank on the US$30 million revolving facility to BNR Lotus Investment LP, an investment vehicle of Silk Road Fund with the Macau sovereign fund as one of the Limited Partner.
• Advised Ping An Bank as lender on a HK$3.8 billion facility to PA Investment Funds SPC IV for its participation in the buyout of Dalian Wanda Commercial Property Co's Hong Kong-listed shares for an aggregate value of HK$34.5 billion (US$4.4 billion).
• Advised a leading PRC bank, as arranger, and the Luxembourg branch of the PRC bank, as agent and security agent extend a US$10 billion term loan facility to Global Chem Investment in support of its equity investment in an affiliate of China National Chemical Corporation for application toward the US$45 billion acquisition of Syngenta, a major and global Swiss agribusiness conglomerate.
• Advised the Macau branch of a leading PRC bank on a US$55 million term loan to Candlewood Investment SRL and Springwood Investment SRL to finance their share purchase for the acquisition of the share capital in Red Star Macalline Group Corporation Ltd. and a US$25 million term loan to Candlewood Investment SRL for its general corporate funding.
• Advised the Macau branch of a leading PRC bank as lender on a US$470 million loan to Fosun International Limited, as borrower, to finance the payment of the share purchase consideration of a certain company.
• Advised China Development Bank on the facilities to a South Africa bank as part of its SME programme.
• Advised a major state owned European oil & gas company on its restructuring.
• Advised major national PRC banks in connection with Genesis Care Pty Limited’s debt reorganisation.

Corporate Finance

• Advised Lionbridge Financing Leasing (China) Co., Ltd. (狮桥融资租赁(中国)有限公司) as Borrower, in a CNY399,000,000 unsecured term loan facility made from Asian Infrastructure Investment Bank as Lender, in connection with financing support for the Borrower’s new energy electric commercial vehicle leasing project. This transaction is the first RMB loan program to a Chinese financial leasing company since the establishment of AIIB.
• Advised Tai Fung Bank Limited (大豐銀行股份有限公司) as Lender in a HK$600,000,000 revolving loan facility to Shandong Hi-Speed Holdings Group Limited as Borrower in connection with financing the general working capital requirement. The Borrower is a Hong Kong-listed company whose business primarily involves industrial investment, standard investment business, nonstandard investment business, and licensed financial services, with assets of HK$ 78 billion in total.
• Advised the Singapore branch of a leading PRC bank on a US$100 million term loan facility made to Dito Telecommunity Corporation, a major telecommunications provider in the Philippines.
• Advised the Hong Kong arm of a leading PRC bank on a US$200 million term loan facility made to Dito Telecommunity Corporation, a major telecommunications provider in the Philippines.
• Advised Ping An Bank Co., Ltd., Hong Kong Branch on a US$150 million (or its HK dollars equivalent) dual currency revolving facility made to Yuexiu Property Company Limited, a comprehensive property development enterprise in China, as Borrower, for financing of working capital of the Borrower.
• Advised three leading PRC banks as mandated lead arrangers and a syndicate of eight Chinese and international banks as lenders on a term facility of US$300 million to ZTE (H.K.) Limited in connection with financing the general working capital requirement and refinancing of its and its subsidiaries' existing indebtedness.
• Advised the Singapore branch of a leading PRC Bank on a US$200 million facility made to Dito Telecommunity Corporation, the third largest telecommunications service provider company in the Philippines for the rollout and operation of its 4G/5G network in the Philippines.
• Advised a lender on the EUR50 million financing facility to Dika Morocco Africa in connection with the borrower's general corporate purposes.
• Advised a leading PRC bank on the US$10 million trade financing to Sod Mongol Group LLC in connection with the purchase of imported goods. The transaction involves taking real estate and other securities in Mongolia and is the first trade financing of this type for the bank in Mongolia.
• Advised China Everbright Bank on a term loan facility to an international tire manufacturer.

Export Credit Facility

• Advised the Export-Import Bank of China Paris Branch, as Lender, in a term loan facility made to a Serbian mining company, as Borrower, for financing the Borrower's working capital needs.
• Advised the Export-Import Bank of China Paris Branch in connection with a term loan financing to a major Portuguese infrastructure company as Borrower in connection with financing the general corporate purpose of the Borrower.
• Advised the Export-Import Bank of China Paris Branch in connection with a term loan facility to be provided to a major Brazilian bank as Borrower in connection with financing the working capital purpose of the Borrower.
• Advised the Export-Import Bank of China, as Lender, in a second amendment to the US$127.5 million term loan facility made to Ahmed Siyam Holdings Private Limited, as Borrower.
• Advised the Export-Import Bank of China Paris Branch, as Lender, in a US$68 million term loan facility made to Serbia Zijin Copper Doo Bor, as Borrower, for financing the Borrower's working capital needs. The Borrower is Zijin Mining Group's first company in the Balkans and is one of the largest companies in Serbia.
• Advised a syndicate of PRC bank on an EUR 90 million export credit facility on the financing of the development of a hotel and tourism complex at the Ouidah Port in Benin.
• Advised a syndicate of PRC and international banks on EUR149 million export credit facilities on the renovation and asphalting of two road projects in Côte d'Ivoire.
• Advised a syndicate of PRC banks on the EUR75 million export credit finance on a three million wheels manufacturing project in Morocco.
• Advised two leading PRC banks on the EUR167 million facility made to the Republic of Benin as part of the country's largest planned infrastructure development and the first export credit financing made by Chinese banks in support of Chinese construction companies for projects in Benin.
• Advised a syndicate of PRC banks on an approximately US$1 billion export credit facility on a highway project in Zambia.
• Advised a leading PRC bank on an approximately US$360 million export credit facility on a housing project in Ukraine.
• Advised China Development Bank on an export credit facility to Bulgaria BTC Network.
• Advised China Development Bank on an export credit facility to Ukrtelecom in Ukraine.
• Advised China Development Bank on an export credit facility to PT Smart Telecom in Indonesia.

Project Development and Project Finance
Energy, Power and Infrastructure Project, Solar & Wind

• Currently advising a major national PRC bank to provide an approximately 350 million Euro loan in connection with an approximately total installed capacity of 300 MW Vetrozelena Wind Farm Project to be located in Pancevo, Republic of Serbia.
• Currently advising a major Chinese SOE in relation to its acquisition, development, construction, financing and operation of a solar PV project in Coțofeni, Romania.
• Currently advising a major Chinese SOE in relation to its development and financing of the Arkalyk wind power project.
• Currently advising a Hong Kong renewable energy company as a potential investor in the development of solar power generation projects and BESS in Sweden.
• Advised Goldwind Science & Technology Co., Ltd. and its five Argentine subsidiaries in a US$ 270 million green loan facility for purposes of refinancing the existing term loan facilities in connection with the development of five wind power projects with an aggregate 374.65 megawatts in Argentina. The syndicate of PRC and international banks includes Bank of China Limited, Panama Branch.
• Advised a syndicate of PRC and international banks on the five project financing facilities with an aggregate value of US$450 million to the subsidiaries of Goldwind for the development of five wind power projects with an aggregate 374.65 megawatts in Argentina, accounting for more than 40 percent of the total wind power capacity of Argentina. This deal was awarded "Projects & Energy Deal of the Year 2020" at the China Law & Practice Awards.
• Advised a syndicate of PRC and international banks at the pre-bid phase on a US$550 million soft mini perm project financing facility for the development of the 750 MW Al Kharsaah solar project in Qatar.

Infrastructure

• Currently advising a major Chinese SOE as an equity investor in connection with the development and financing of the proposed revitalisation of the cross-border railway located in Africa.
• Advised a leading Chinese bank in connection with the financing of a secure housing project on the island of Hulhumale in the Maldives.
• Advised a syndicate of lenders including leading international and PRC banks in connection with the US$975 million financing to COSCO Shipping Ports Chancay Peru S.A. for the development, design, engineering, construction, management, and operation of a multi-purpose port facility including terminals and related infrastructure facilities located in Chancay, Peru. This deal was awarded as 2022 Typical Case of Brand Building of Central Enterprises by the State-owned Assets Supervision and Administration Commission of the State Council, which fully demonstrated the company's good image of being responsible, bearing responsibility and deeply planting the concept of green development. It was also awarded "LatinFinance Award for Port Financing of the Year" in 2023 Project & Infrastructure Finance Awards, and "Finance Deal of the Year" in ALB Hong Kong Law Awards 2023.
• Advised a syndicate of PRC and international banks as Lenders in connection with the signing of a total of 150 million Euro financing to the Republic of Cote d'Ivoire for the renovation and construction of two road projects in Côte d'Ivoire.
• Advised one of the largest infrastructure and power companies in China, in its capacities as sponsor, EPC contractor and O&M contractor in connection with the development and financing of the first annuity road project in Kenya.
• Advised China Gas Holdings Ltd. on the US$20 million private sector loan agreement to support natural gas and liquefied petroleum gas deliveries to households, hospitals, industry, and services crucial to the ongoing response COVID-19 and the post-pandemic recovery in Wuhan and other affected areas in Hubei province, PRC. The deal was awarded "Oil & Gas Deal of the Year (North Asia) (China) 2021"by the Asset Triple A Infrastructure Awards.
• Advised a syndicate of leading international and PRC banks on the project financing of US$ 980 million financing to Bracell SP Celulose LTDA and Bracell SP Cellulose Trading FZCO. Bracell is the world's largest producer of dissolving pulp and specialty cellulose, whose operations are supported by the sustainable cultivation of eucalyptus and state-of-the-art factories. The financing aims to support the ambitious Project Star in Brazil on dissolving pulp capacity expansion, from the current 250,000 tons per year to add another 1.25 million tons, in the state of San Paolo. Project Star, upon completion in 2021, is expected to be the largest foreign direct investment in the State of São Paulo in the last 20 years.
• Advised a PRC sovereign fund on the project financing facility of RMB 1.4 billion on the design, construction, financing, development, implementation, commissioning and operation of the Samarkand Tourism Centre in Uzbekistan to be used on the 2022 Shanghai Cooperation Organisation Summit in Samarkand – the historic town and cross-road of Silk Route.
• Advised China Exim Bank on the financing of the development of an international airport in Benin.
• Advised a major Chinese SOE on the development of an approximately US$260 million highway project in Bangladesh.
• Advised a major Chinese SOE on the development of a railway project in Guinea.
• Advised a major Chinese SOE as investor and EPC Contractor on the development of Terminal Poruario Sao Luis in Brazil.
• Advised a Chinese sovereign fund and a major PRC telecommunications company on the investment in a public private partnership project for building, operating and transferring of a fibre-optic network in Kazakhstan.
• Advised IFC and CITIC Construction on a pan-Africa housing development in project. The transaction received the award of 2015 Construction Team of the Year from Africa Legal Award.

Water & Sewage Infrastructure

• Advised Bank of China Srbija a.d. Beograd as mandated lead arranger and Bank of China Limited Hungarian Branch as agent and lender in connection with approximately EUR 200 million to the Republic of Serbia represented by the Government of the Republic of Serbia acting by and through the Ministry of Finance for the construction of sewage of infrastructure in Varvarin, Mionica, Krupanj, Lajkovac, Banja Vrujci, Svrljig, Kladovo, Lazarevac, Veliki Crljeni, Obrenovac and Vranje in Serbia.
• Advised Asian Development Bank on the US$150 million A Loan and US$300 million B Loan syndication financing to China Water Environment Group Investment Limited for the construction of multiple wastewater treatment plants and related works for the improvement of river and lake water quality in central and western regions of China.
• Advised Asian Development Bank on a US$200 million (and its RMB equivalent) financing to help China Water Affairs Group Limited to improve waste water management and increase people's access to clean and reliable water supply in the PRC.
• Advised Asian Development Bank on with facilities of approximately US$200 million A Loan and B Loan to Beijing Capital on the construction and management of wastewater treatment facilities in China.
• Advised Asian Development Bank on with a facility of approximately US$100 million to China Everbright Environmental Energy Ltd. to finance a portfolio of waste-to-energy projects in Vietnam.
• Advised Asian Development Bank on the China Water Environment Group Limited integrated river and lake rehabilitation project.
• Advised a major Chinese SOE as investor and EPC Contractor on its potential investment in Ramu II hydro project in Papua New Guinea.
• Advised the Export-Import Bank of China on the US$1.17 billion financing of the development of the Souapiti hydropower project and the restructuring of the Kaleta hydropower project, both located in Guinea. This project adopted an innovative and complex structure of a hybrid sovereign loan and project finance and required the amendment of Guinean local legislation.
• Advised a major Chinese SOE on its potential investment in relation to a hydro power project in Georgia.
• Advised a European development fund on the development and transfer of a hydropower plant in Uganda.

Mining

• Advised a Chinese sovereign fund on a US$200 million equity investment for the development of certain platinum mining project in South Africa.
• Advised a Chinese sovereign fund on a US$200 million equity investment for the development of the Dari zinc-lead mining project in Indonesia.
• Advised a Chinese sovereign fund on a US$200 million term loan facility to a mining group for the import of bauxite from the Republic of Guinea.
• Advised a major Chinese oil company on a proposed crude oil pipeline project in Africa.
• Advised a major international mining company in connection with the development and financing of the Nacala Corridor Project, which transports coal from Mozambique to the Port of Nacala via Malawi. The project involves the development of a railroad and a port and is being financed by a syndicate of banks, including multilateral agencies, export credit agencies and commercial banks.
• Advised the lenders on the project financing of the development of the 630 MW first coal fired IPP project in South Africa.
• Advised a major Chinese mining company on its multi-billion dollar joint venture in Africa with one of the largest chrome miner in the world.

Oil & Gas and LNG

• Currently advising a major Kazakhstan joint venture Project Company in connection with the implementation of the approximately US$7.6 billion project on construction of the first integrated gas chemical complex in Atyrau region Stage 2 (Polyethylene Production) with a capacity of 1.25 million metric tons per year, being the largest polyethylene project in Kazakhstan.
• Currently advising a major Russian joint venture Project Company in connection with the financing, refinancing and restructuring of certain transactions in connection with the design, development, financing, construction, testing, commissioning, operation, management and maintenance of a gas chemical complex based on ethane and LPG feedstock located in the Amur Region of the Russian Federation.
• Currently advising a major national PRC oil company to develop a greenfield integrated refining and petrochemical project to be located in the Gulei Petrochemical Base in Fujian Province, China.
• Advised a Chinese sovereign fund on a US$200 million equity investment on an Ethiopian LNG project. The US$4 billion project consists of five exploration blocks in the Ogaden Basin of Ethiopia and will also involve the construction of a 700 km gas pipeline to transport up to 12 billion cubic metres of gas per year from the Ogaden Basin to the port of Damerjog in Djibouti where an LNG liquefaction and export plant will be built. The deal was awarded as "Project & Energy Deal of the Year 2018" by China Law & Practice.
• Advised the Paris branch of a leading PRC bank on the US$178 million loan to "New Silk Road Oil and Gas" Limited Liability Company, which is a joint venture between the national oil company of Uzbekistan, Uzbek NHC Uzbekneftegaz and China National Petroleum Corporation in connection with the exploration, exploitation, development and operation of the Karakul gas block in the country's southern province of Bukhara. The first phase project development cost is earmarked at US$377.5 million. This transaction was highlighted as one of the major Belt and Road Project by the Government of the PRC and the Republic of Uzbekistan.

Asset Finance

• Currently advising a major national PRC financial leasing company on its acquisition of an A320NEO aircraft under an operating lease.

• Banking
• Project development
• Project finance
• M&A
• Restructuring and insolvency

• Aviation
• Banking
• Energy
• Oil and gas
• Utilities

• University of Oxford, MSc
• BPP Law School, BVC
• University of Warwick, LLB