Biography
Kevin Yao is counsel in the Banking & Finance Group and is based in the Hong Kong office. Kevin advises private equity sponsors, financial institutions and corporate borrowers and has particular experience in leveraged and acquisition finance, margin loans, high-yield bond/loan financing, structured finance and corporate and syndicated finance. Prior to joining Weil, Kevin worked at leading international law firms in Hong Kong, London and Sydney and was seconded to a leading international bank in London to support the leveraged and acquisition finance team.
Kevin has been endorsed as a "Highly Regarded" lawyer in both Banking and Leveraged Finance practices in the 2023 edition of IFLR1000 Asia-Pacific. Kevin was also named a “Rising Star” in Hong Kong Banking and Finance at Legal Media Group (LMG) Rising Stars Expert Guides 2022, and was further awarded “Rising Star of the Year” (International Firm) at IFLR Asia-Pacific Awards 2022.
Under Kevin’s leadership, the Hong Kong Banking & Finance Group has been named finalist for “Loan Team of the Year” at the IFLR Asia-Pacific Awards 2023.
Kevin is fluent in both Mandarin and Cantonese.
Kevin’s recent representations include*:
- Mr. Rick Yan (Co-founder and CEO of 51job, Inc.) in the $1.90 billion leveraged financing for the take-private of 51job, Inc. as well as the $450 million founder financing to fund Mr. Rick Yan’s capital contribution in respect of the take-private
- MBK Partners in multiple matters, including (1) the financing aspects of its acquisition of a 20.86% stake in CAR Inc., China’s largest car rental service provider, (2) the financing aspects of the $2.2 billion (including debt) take-private of CAR Inc. by way of voluntary general offer. This was the second-largest privatization in China during 2020
- Mr. Jinbo Yao (Founder, Chairman and CEO of 58.com) as a member of the consortium in the $3.5 billion committed term loan facilities to finance a portion of the purchase price of the $8.7 billion take-private of 58.com, China’s largest online classifieds marketplace, by a buyer consortium, consisting of Mr. Yao, Warburg Pincus, General Atlantic, Ocean Link Partners and Internet Opportunity Fund, which was awarded Finance Deal of the Year 2021 by Asia Legal Awards, the Thomson Reuters ALB Hong Kong Awards and the China Law & Practice Awards.
- Mr. Jinbo Yao (Founder, Chairman and CEO of 58.com) in the $300 million term loan facility to finance the capital injection required to be made in connection with the $8.7 billion take-private of 58.com
- Baring Private Equity Asia in the financing aspects of its sale of HCP Packaging, a China-headquartered global leader in the design, development and manufacture of cosmetic packaging, to Carlyle
- TPG and the consortium of minority equity investors in connection with the multi-jurisdictional restructuring of c. $2.6 billion of financial indebtedness and the provision of $700 million in new money for Dream Cruises Holding Limited, a premium brand, Asian-sourced passenger cruise line, and its parent company Genting Hong Kong Limited
- A major Asia-based sovereign wealth fund in its provision of a US$1 billion bond loan financing to a South East Asian logistics company
- TPG in a senior secured facilities to finance its acquisition of Pan Asia Majestic Eagle Ltd., at the time, one of Myanmar’s largest independent tower companies
- Portfolio company of one of the world’s largest institutional investors in a margin loan in respect of their investment in a Korean life insurance company
- An Asian PE sponsor in multiple subscription line financings for their various credit funds
- TPG and Ontario Teachers’ Pension Plan in the financing aspects of the acquisition of up to 35% of Dream Cruises Holding Limited, a premium brand, Asian-sourced passenger cruise line with an enterprise value based on the transaction of $3.3 billion, from Genting Hong Kong Limited, the largest cruise operator in the Asia Pacific region
- An Asian PE sponsor in respect of the acquisition facilities agreement to fund part of a take-private of a top five plasma producer in China
- Argon Medical Devices in respect of the $450 million refinancing of existing indebtedness with a TLA New York financing and TLB English law financing
- A PE sponsor and its portfolio company in the refinancing of an existing mezzanine facility for the combination of a group of South East Asian-based cell tower operators
- A leading Asian PE sponsor in respect of the capital call facility for their new credit fund and subsequent facility upsize and extensions
- Alcentra Ltd and the Governor and Company of the Bank of Ireland on a €92.5 million debt financing and Alcentra’s €10 million equity investment to support the acquisition by Vitruvian Partners of CRF Health
- HSBC Bank plc and BAML as lenders to a senior multicurrency facility that was utilized for the acquisition of Farmacias Ahumada S.A.
- HSBC Bank plc and KKR Capital Markets as arrangers to a senior facilities agreement for the acquisition of OEG Offshore Group by KKR
- HSBC Bank plc and JP Morgan as arrangers to a senior facilities agreement for the acquisition of Independent Clinical Services Group by TowerBrook Capital Partners (UK) LLP
- Deutsche Bank as lender in connection with a €370 million margin loan facility and real estate loan facility, both borrowers being investment vehicles of a wealthy Latin American family
- Citibank and UBS AG as lenders in respect of a facility agreement, $790 million margin loan, with Crispian Investments to fund the acquisition of ADRs in respect of shares in a Russian mining company
*Includes matters handled prior to joining Weil