IFIL Group's US$90 million deal closed

The IFIL Group has closed a US$90 million deal in Vision Investment Management in the form of a five-year mandatory convertible bond, which on conversion will entitle the IFIL Group to 40% of the equity capital of Vision.

Orrick, Herrington & Sutcliffe assisted Vision Investment Management as Hong Kong counsel, and Maples acted as offshore counsel. Appleby acted as IFIL's Cayman & BVI counsel, while Paul, Weiss, Rifkind, Wharton & Garrison acted as international counsel. The Paul, Weiss team included Hong Kong partner Jeanette Chan, associates Gloria Liu-Luster and Phoebe IP, and Hong Kong solicitor Olivia Wong; New York partners Toby Myerson, Ariel Deckelbaum, Peter Rothenberg and Yvonne Chan assisted on the corporate, tax and regulatory aspects.