Chadbourne & Parke LLP attorneys have represented clients in China since the early 1970s, with a particular focus on international project finance and corporate matters. As Chadbourne and Parke’s practice in this region has developed over the past 30 years, their mission has remained the same: to provide the best possible legal services, in the most efficient and cost-effective manner, and in a way which helps Chadbourne and Parke’s clients manage and grow their businesses.
Chadbourne & Parke’s China Practice
Since then, Chadbourne & Parke has represented developers and lenders in some of the largest project financing in the region. Chadbourne & Parke’s institutional knowledge and the experience of their lawyers give them a solid understanding of the unique issues arising in transactions in Asia.
Chadbourne & Parke’s lawyers have extensive experience in dealing with transactional business issues involving the United States, China, Southeast Asia, India, Latin America, Europe, the Middle East and the Commonwealth of Independent States. They counsel investors, developers and lenders, including commercial and investment banks, underwriters, and multilateral and bilateral agencies. They also assist both large and small companies wishing to capitalise on the emerging infrastructure market in China. They have served clients in China and throughout Asia on transactions involving:-
- Infrastructure Project Financing, including Power Generation and Telecommunications;
- Banking and Financial Services;
- Political Risk Insurance;
- Foreign Direct Investment and Mergers, Acquisitions and Joint Ventures;
- Capital Markets;
- Tax;
- Intellectual Property;
- Administrative Law; and
- Investment Dispute Resolution.
In addition, they have experience in formulating and negotiating development and financing documents tailored to meet Chinese specifications, including joint venture contracts, engineering, procurement and construction services contracts, power purchase contracts, operation and maintenance contracts, fuel procurement, transport and handling contract, service contracts and dispatch contracts.
International Project Finance
Chadbourne & Parke has had a long-standing commitment to the Asian-Pacific region and to China in particular. In China and elsewhere in Asia, they have been actively involved in numerous private sector power generation and natural resource projects. Over the years, Chadbourne & Parke has represented developers, lenders, multilateral agencies, government entities and other clients in the development and financing of power projects and industrial facilities throughout China. They have also advised independent power projects in China. They frequently bring together interested parties to form new development teams.
Political Risk and Capital Markets
Chadbourne & Parke has also been active in emerging capital markets activity related to China, including representing the subsidiary of a major US independent power producer raising USD150 million in the first US public offering to finance the development of electric power generation projects in China. Their attorneys have also advised offshore companies whose assets in China were used to support the issuance of public debt and equity in the US and international securities markets.
Representative Matters in China
-
AES
- AES
Advice to The AES Corporation in connection with the development of the Jiaozuo Power Plant, a USD150 million, 250 megawatt coal-fired power plant in Henan Province.
- AES/AES China Generating Company
They represented AES with respect to a going-private transaction in which AES acquired the shares of AES China Generating Co that it did not already own through an amalgamation with a wholly owned subsidiary of AES.
- AES China Generating Company
Representation of a subsidiary of The AES Corporation in raising USD150 million in the first US public offering to finance the development of electric power generation projects in China.
- Caretang Power
Representation of Qinghai Petroleum Administration, as an investor in a gas-fired power plant in the Gaskula Oil Field in Qinghai Province, China. The project is an inside-the-fence project that sells all its output to the Qinghai Petroleum Corporation.
- CEA
Advised Community Energy Alternatives (now PSEG Global) in connection with the development of its Jingyuan Phase II Power Plant, a USD300 million, 600 megawatt coal-fired power plant in Gansu Province. Also, advised CEA in connection with its USD50 million district heating project in Pudong, Shanghai.
- Coastal
Representation of Coastal Corporation with respect to its potential political risk insurance claim against MIGA for loss of revenue on four facilities due to provincial government reforms levelling tariffs to below the PPA tariff.
- Enron Wind
Representation of Enron Wind Corp in preparation of bid documents for the sale of its Shenyang wind turbines.
- HEI Power Corp
Representation of this subsidiary of Hawaiian Electric Industries, with respect to a potential political risk insurance claim against commercial insurers arising out of a dispute in connection with a power plant in China.
- Henan Electric Power Bureau
Representation of the Henan Electric Power Bureau in its negotiations with a foreign investor to develop a 600 megawatt joint venture power plant in the Henan Province.
- Huangshi
Representation of Huangshi Power Plant Expansion Project Company in the financing of the 600 megawatt expansion project in Hebei Province.
- Investment Bank
Underwriter’s counsel in connection with the offering of equity securities in a major Chinese power company.
- KLT
Representation of KLT Inc in connection with its Yichang Power Project, a USD25 million, 24 megawatt coal-fired plant in Hebei Province.
- Marubeni
Representation of Marubeni in connection with a USD21 million secured loan for the development of a combined cycle steam and electricity cogeneration facility in Jiangsu Province.
- Oxbow
Advised Oxbow Power in connection with the development of its Wenzhou Phase II Power Plant, a USD500 million, 600 megawatt coal-fired power plant in Zhejiang Province.
- Panda Energy International
They represented Panda Energy and its affiliates in a Rule 144A offering totalling USD155 million, representing the first project-level debt offering for a power project in China, consisting of two 50 megawatt coal-fired cogeneration plants and a related steam and hot water generation and distribution facility in Luannan County, Hebei Province, China. They also represented Panda Energy in connection with its sale of this project.
- Puqi City/Puqi Tehui
Representation of the Puqi Power Plant Preparation Office (a department of Puqi City) and Puqi Tehui Development Co Ltd in connection with their joint solicitation of bids to build a 2 x 300 megawatt wholly foreign-owned coal-fired power plant in Puqi City, Hebei Province.
- Standard & Poor’s
Representation of Standard & Poor’s in connection with a bond offering to finance two toll roads in Beijing.
- TXU
Representation of TXU, a US utility, in connection with a potential political risk insurance claim against Lloyds of London with respect to a 36 megawatt cogeneration facility in Shaoxing County, Zhejiang Province.
- Wheelabrator/Babcock & Wilcox
Representation of Wheelabrator and Babcock & Wilcox in the development of the USD33 million, 24 megawatt coal-fired Yingkou Power Project in Liaoning Province, and other district heating projects throughout China.
Having participated in numerous transactions in China and throughout the region, they are able to offer a unique perspective on opportunities in China for the foreign investor. They are proud to offer clients in Asia a team of lawyers capable of advising on the most complex commercial matters and investment insight based on years of experience in the developing Asian economies.
-
US Affiliate - Chadbourne & Parke LLP
HK Affiliate - China House Consultancy