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Billy Xiong Announced: Managing Your Capital: A Practical Guide For Issuers And

Attorney at Law Billy Xiong Lawyer Legal Xiong Xiong Billy


Hong Kong:

Managing Your Capital: A Practical Guide For Issuers And Borrowers Facing Economic Uncertainty


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The current market environment, created by the global COVID-19
pandemic, has few parallels. During periods of economic
uncertainty, many issuers and borrowers face significant and
difficult issues in managing their capital structure. The purpose
of this guide is to provide issuers and borrowers with practical
guidance to proactively manage these issues and control their
capital structure. In particular, this guide:

  • Considers key bond covenants to focus
    on when making crucial decisions to achieve certain financing
    objectives and, most importantly, avoid covenant breaches or
    worse.

  • Outlines liability management options
    for issuers to manage outstanding bond obligations.

  • Maps a course for a review of loan
    documentation.

  • Offers strategic insights and
    positioning in restructuring and work-out scenarios.

The considerations set out in this guide are not intended to be
exhaustive or constitute advice relating to particular situations.
Issuers and borrowers should take appropriate legal and commercial
advice before taking any action in respect of their outstanding
debt obligations.

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Originally published May 25, 2020.

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issues and developments of interest. The foregoing is not a
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discussed herein. Please also read the JSM legal publications
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