Dechert Advises Yestar Group on US$200 Million Restructuring

Dechert has advised Yestar Healthcare Holdings Company Limited, a leading distributor and service provider of in vitro diagnostic products in the PRC, on its successful restructuring of its New York law governed US$200 million senior notes (the Notes). 

The consensual restructuring, supported by an overwhelming majority of holders of the Notes and sanctioned by the Cayman court on February 28, 2024, was implemented by way of a Cayman Islands scheme of arrangement (the Scheme). The sanction of the Scheme is a material milestone for Yestar and demonstrates Dechert’s ability to swiftly and efficiently structure, agree and implement solutions to preserve Yestar’s business operations.

The Dechert multidisciplinary and cross-border team was led by Hong Kong resident partner Daniel Margulies, counsels Dirk Behnsen, Yang Zhao and associate Siobhan Leung. The wider team included New York based partner Shmuel Vasser and counsel Stephen Wolpert.

Commenting on this achievement, Daniel Margulies said: “We are delighted to have acted as international lead counsel to Yestar to deliver this resounding success. It showcases Dechert’s expertise across regions to formulate and execute on a restructuring deal that benefits all key stakeholders. We also would like to extend our congratulations to the Yestar team, and to thank them once again for entrusting us with this matter.”

About Dechert

Dechert is a global law firm that advises asset managers, financial institutions and corporations on issues critical to managing their business and their capital – from high-stakes litigation to complex transactions and regulatory matters. We answer questions that seem unsolvable, develop deal structures that are new to the market and protect clients’ rights in extreme situations. Our 1,000+ lawyers across 21 offices globally focus on the financial services, private equity, private credit, restructuring, real estate, life sciences and technology sectors.