Client acquires senior secured debt to preserve assets and support ongoing operations of subsidiary

Client(s) Chinese conglomerate

Jones Day advised a Chinese conglomerate specializing in branded apparel in connection with the assignment of a senior secured debt from a lender to its minority-owned subsidiary. Through the assignment, the client acquired the senior secured position, which will help facilitate the preservation of its equity investment and the borrower’s operating assets, allow for a restructuring of corporate governance, and enable the subsidiary’s sustained operations. This representation included a cross practice, cross-office team of Jones Day attorneys in the U.S., UK, and Hong Kong.