Cases & Deals

Up Energy Group completes senior debt financing and Notes redemption

Clients Up Energy Group Ltd

Jones Day advised Up Energy Group Ltd., the single largest shareholder of Up Energy Development Group Limited, the shares of which are listed on the Hong Kong Stock Exchange, in a $175 million senior debt financing consisting of the placement by Up Energy Group Ltd. of its Convertible Notes issued by Up Energy Development Group Limited to nine institutional and strategic investors. The Convertible Notes are exchangeable into shares of Up Energy Development Group Limited. Simultaneous with the senior debt financing, Up Energy Group Ltd.'s holding company Up Energy Group Holding Limited completed a redemption of an aggregate of US$150 million of Fixed Rate Senior Notes from seven of the nine investors.