Shanghai, October 3, 2007—Shearman & Sterling has advised project owners, BASF-YPC Company Limited (a joint venture between BASF and Sinopec) on the $1.5 billion dollar refinancing of an integrated petrochemical project in Luhe, Nanjing, Jiangsu province, China. This is the largest RMB take-out refinancing to be done in China to date.

The Shearman & Sterling team was led by partner Andrew Ruff (SH-PDF), working with associates Fei Kwok (SH-PDF) and Shuyuan Sun (BJ-PDF). Andrew Ruff said “We are delighted to act for BASF-YPC on this project which represents Shearman & Sterling’s continued strength in working with domestic financial institutions in closing landmark financings in China.”

For additional information contact:
Andrew Ruff | Shanghai | +8621 6136 5088 |
Caroline Watts | Hong Kong | +852 2978 8068 |