Henry Zhang

Since joining Kirkland, Henry’s representative matters include advising:

• Ad hoc group of noteholders on the successful restructuring of over USD 16 billion offshore liabilities of Kaisa Group Holdings Ltd. (HKEx: 1638). This is one of Asia’s most significant and largest restructurings of Chinese property developers in the current sector-wide crisis, one of the largest schemes of arrangement by value ever sanctioned by the Hong Kong Court to date and the second successful restructuring of Kaisa following the first in 2016 which Kirkland also acted for the noteholders. This transaction was named “Restructuring and Insolvency Matter of the Year” by the Asia Legal Awards 2025 and “Deals of the Year 2024” by China Business Law Journal.
• Ad hoc committee of holders of the offshore notes issued by China Evergrande Group (HKSE: 3333) and its subsidiaries in connection with the restructuring of the offshore indebtedness in excess of US$39.9 billion which was intended to be implemented through inter-conditional schemes of arrangement of China Evergrande Group in Hong Kong and Cayman Islands and inter-conditional schemes of arrangement of Tianji Holding Limited and Scenery Journey Limited in Hong Kong and BVI respectively. This transaction was named “Restructuring and Insolvency Matter of the Year 2024” by ALM and “Deals of the Year 2024” by China Business Law Journal.
• Ad hoc group of noteholders on the successful restructuring of approximately US$17.7 billion offshore liabilities of Country Garden Holdings Company Limited (HKEX: 2007), a leading PRC property developer. This is one of Asia’s most significant and largest restructurings of Chinese property developers in the current sector-wide crisis and one of the largest schemes of arrangement by value ever sanctioned by the Hong Kong Court to date. This transaction was named “Deals of the Year 2024” by China Business Law Journal.
• Ad hoc group of offshore noteholders on the successful restructuring of approximately US$8.1 billion offshore liabilities of CIFI Holdings (Group) Co. Ltd. (HKEX: 0884), a Chinese property developer. This transaction was named “Deals of the Year 2024” by China Business Law Journal.
• Hilong Holding Limited (HKSE:1623) in relation to its proposed offshore debt restructuring of its US$397 million senior secured notes.
• Vantris Energy Berhad (formerly known as Sapura Energy Berhad) on the successful restructuring of over RM12 billion (US$3 billion) in liabilities – the largest cross-border restructuring ever completed in Malaysia
• Ad hoc committee of offshore bondholders in a restructuring of around US$6.7 billion offshore bonds and perpetual securities issued by Yuzhou Group Holdings Company Limited. This transaction was named “Deals of the Year 2024” by China Business Law Journal.
• Eagle Investments Holdco in relation to the sale of the holding company of The LYCRA Company to a Chinese state-owned enterprise and its liability management in respect of its US$1.3 billion indebtedness.
• Ad hoc group of holders of US$350 million zero coupon convertible bonds due 2026 issued by Tequ Mayflower Limited and guaranteed by Hope Education Group Co., Ltd. (now known as XJ International Holdings) in connection with any potential restructuring and/or enforcement actions.
• Ad hoc group of noteholders of Jinke Property Group in connection with any potential restructuring and/or enforcement actions and navigating the PRC bankruptcy process.
• Ad hoc committee of noteholders in a successful restructuring of the New York-law governed US$275 million senior notes issued by Hong Seng Limited and guaranteed by Hong Yang Group Company Limited, the controlling shareholder of Hong Kong-listed companies Redsun Properties Group Limited (HKSE: 1996) and Redsun Services Group Limited (HKSE: 1971).
• Certain financial creditors of offshore affiliates of Suning.com Co. (SH: 002024) in connection with the restructuring of its financial indebtedness.
• Blackstone, Bain Capital, Warburg Pincus, L Catterton, Hillhouse, Baupost, PAG and Proprium Capital in relation to various portfolio investments.

Prior to joining Kirkland, Henry’s representative matters have included advising:

• China Aoyuan Group Limited (HKSE: 3883) on the successful restructuring of approximately US$7.3 billion offshore debt.
• Genting Hong Kong Limited on its c.US$3.5 billion restructuring and c.US$1 billion recapitalization.
• Lead managers and arrangers under the following capital markets transactions:
  
  • US$325 million 5.375% senior secured notes due 2024 and US$460 million 4% senior secured notes due 2027 issued by special purpose orphan vehicles, used for subscribing non-convertible debentures issued by subsidiaries of ReNew Power Private Limited;
  • HK$2.15 billion cash-settled exchangeable bonds due 2024 referable to the shares of Hong Kong Exchanges and Clearing Limited;
  • US$230 million zero coupon guaranteed bonds due 2022 exchangeable into ordinary H-shares of China International Marine Containers (Group) Co., Ltd. (HKEX.2039);
  • HK$5.038 billion zero coupon guaranteed convertible bonds due 2022 convertible into the ordinary shares of Country Garden Services Holdings Company Limited (HKEX.6098).
• PAG, Hammer Capital, Tor Investment on various portfolio investments and fundraising activities.