Kirkland Advised Hilong on its Successful Restructuring of US$379 Million Offshore Notes
Kirkland & Ellis advised Hilong Holding Limited (HKEX: 1623) on its restructuring of approximately $379 million offshore secured senior notes. Hilong is a leading PRC-based integrated oilfield equipment manufacturer and service provider.
Hilong’s restructuring proposal (which included disposal of assets, cash paydowns, enhanced credit protections and revised governance arrangements) ultimately received overwhelming support from its diverse creditor base. With such creditor support, the Hong Kong proceedings for the winding-up of the company was promptly withdrawn upon the successful completion of the restructuring.
The transaction closed on February 5, 2026, following the consent solicitation launched on December 11, 2025 and approved on February 3, 2025 by holders representing 96.28% of the aggregate principal amount of the offshore notes.
This transaction marks another successful representation by Kirkland and further reinforces our market-leading role in Asia advising on the most significant and complex restructurings in the region.
The Kirkland team included restructuring lawyers Wei-Yang Lim, Anthony Wijaya, Yvette Zhou and Rebecca Zhou; debt finance lawyers Sean Zhang and Johnson Man; capital markets lawyers Cedric Van den Borren, AJ Brown, Alejandro García, Patrick Wieser and Younes Mahmoudieh; and litigation lawyer Kevin Leung.
