FacultyFaculty/Author Profile
Baldwin Cheng

Baldwin Cheng

White & Case

Central, , HKG


Baldwin Cheng is the Co-Head of White & Case's Asia Banking & Restructuring Practices. He is dual-qualified in England and Wales and Hong Kong.

Baldwin's experience includes a number of high-profile matters across Asia-Pacific, advising borrowers and financial institutions in domestic and cross-border, secured and unsecured, and syndicated and bilateral bank financings, including acquisition financings.

Baldwin is particularly focused on leading major outbound financings (including export credit financings and acquisition financings) for PRC banks to various jurisdictions (including Europe, Africa and South America). He also advises on property-related financings, pre-IPO financings and margin lending transactions.

Baldwin also advises banks and corporates in non-contentious insolvency and restructuring matters.

Baldwin has been recognized as a leading legal practitioner for Hong Kong Banking & Finance by Asia Pacific Legal 500, China Restructuring/Insolvency by Chambers Asia, and for Banking in China and Hong Kong by IFLR1000.

Baldwin's experience includes advising:

  • ¨China Merchants Bank, New York Branch on a US$3 billion-equivalent loan for financing the US$9.4 billion management buyout of Qihoo 360 Technologies, a Chinese security software maker listed on the NYSE.
  • ¨Shenzhen-listed Suzhou Dongshan Precision Manufacturing Co., Ltd., one of the largest suppliers of precision sheet metal components headquartered in Suzhou, China, and its subsidiaries as borrowers, on a US$350 million senior secured term loan, and two bridge loans in an amount of US$100 million and US$60 million for the acquisition and take-private of Multi-Fineline Electronix, Inc. (MFLEX), a leading global provider of high-quality, technologically advanced flexible printed circuits and assemblies listed on the NASDAQ.
  • ¨MMG Limited and the MMG-led consortium including Guoxin International Investment Corporation Limited (22.5%) and CITIC Metal Peru Investment Limited (15%) on the US$7 billion acquisition of the Las Bambas copper project in Peru from Glencore plc. We advised MMG on the consortium shareholder arrangements, and the consortium on the M&A, HKSE approvals and financing of the acquisition through a combination of equity and long-term debt facilities from a banking syndicate arranged by China Development Bank. The deal was awarded "2015 Energy & Resources Deal of the Year" by ALB China Law, "2014 Global M&A Deal of the Year, Latin America/Peru" by American Lawyer, "2014 Deal of the Year" by China Business Law Journal and "2014 M&A Deal of the Year" by Latin Lawyer.
  • ¨Industrial and Commercial Bank of China and Bank of China on a €550 million syndicated senior secured term acquisition financing for Fosun International in connection with its approximately €1 billion majority acquisition of insurance assets of Portuguese state-owned Caixa Geral de Depositos, one of the largest acquisitions by a Chinese non-state owned entity and Fosun's largest acquisition outside China. The deal was awarded "Deal of the Year" for 2014 by China Business Law Journal.
  • ¨China Development Bank Corporation in a €300 million acquisition financing provided to Weichai Power Hong Kong International Development Co. Limited, a wholly owned subsidiary of Weichai Power Co. Ltd., to finance a pre-IPO follow-on investment by Weichai Power in the KION Group. This follows Weichai Power's initial pre-IPO strategic investment in the KION Group at the end of 2012 which was also financed by CDB under a €553.5 million acquisition financing, on which we advised CDB and which was named "China Outbound Deal of the Year" at the China Law & Practice Awards 2013.

Publications

Co-author, "Exits from China Pre-IPO Loans: Untested options," IFLR, May 2009

Professional Associations

Law Society of Hong Kong
Law Society of England and Wales
Australian Chamber of Commerce, Beijing
Restructuring and Insolvency Faculty of Hong Kong Institute of Certified Public Accountants (HKICPA)

Bars and Courts

Solicitor, England and Wales, 2003

Solicitor of the High Court of Hong Kong, 2002

Education

Bachelor of Law, University of Sydney, 1999

Bachelor of Commerce, University of Sydney, 1998

Languages

English

Cantonese

Mandarin

Citizenship

Hong Kong

Australia

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