We acted as financial adviser to Tse Sui Luen Jewellery (“TSL”) on its debt restructuring and capital reorganisation.

• advised and managed a comprehensive corporate rescue over a four year period
• negotiated a standstill and debt restructuring agreement with TSL’s banks
• negotiated an elimination of TSL’s preference share issue with an affiliate of AIG and swapped the issue for an issue of ordinary shares in TSL China
• negotiated a new holding structure bringing in the Rosey Blue Group from Antwerp, one of the world’s largest diamond traders
• negotiated the purchase of the bank debt by the new holding structure
• devised and put forward proposals for TSL to convert part of the acquired TSL bank debt into shares in TSL, restructure its share capital and raise new capital by way of an open offer

• extensive credit exposure
• knowledge of banking syndicates and documentation
• creative corporate architecture
• compliance with Hong Kong Takeovers Code and Stock Exchange rules
• underwriting capacity