Projects, energy and infrastructure

Syndicate of international banks

Acted as English counsel to a syndicate of international banks in respect of their project financing of US$311 million to an international airport.

Syndicate of Indian and Chinese banks

Acted for a syndicate of Indian and Chinese banks in respect of their US$290 million project financing facility to a Malaysian and Indian joint venture entity for the purpose of purchasing and converting a vessel into a floating production offloading and storage unit for chartering to a multinational oil and gas major.

Banks in London, Singapore and United Arab Emirates

Assisted banks in London, Singapore and United Arab Emirates on their US$202 million project financing facility to a joint venture entity for the purchase of a floating production offloading and storage unit.

More: Projects, energy and infrastructure

Investment funds

Bank of Communications Financial Leasing 

Advising Bank of Communications Financial Leasing in respect of the groundbreaking transaction in connection with the US$900 million lease financing by a syndicate of PRC lessors of the cruiseship ‘Genting Dream’.

ICBC Aviation Leasing 

Advising ICBC Aviation Leasing on a range of aircraft repossession and airline reorganisation deals, involving more than 17 airlines across 11 jurisdictions. This includes advising in relation to AirAsia X's scheme of arrangement in Malaysia, the rehabilitation negotiations of Thai Airways, and issues regarding the repossession of engines, on lease to Tigerair Australia but located in Singapore.

Golden Equator

Advising the creditors of Agritrade International in the judicial management of Agritrade International, with a total debt of about US$1.55 billion, one of the largest insolvencies in Singapore. Also advising the creditors on the restructuring of Agritrade Resources.

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Shipping

Netherlands-based oil and gas company

Assisted a Netherlands-based oil and gas company who is a leader in floating production units with the acquisition of two vessels with a combined purchase price in the amount of approximately US$50 million.

Shipowner

Assisted a shipowner with the sale of its vessel to a major oil company in Dubai for US$21.7 million and the concurrent termination of chartering and financing arrangements in relation to the vessel.

Marshall Islands entity

Acted for a Marshall Islands entity on the sale of an asset for US$21 million together with the unwinding of financing arrangements and the novation of various project agreements across to purchasers.

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Restructuring and insolvency

All lenders to a major international shipping group

Advised all lenders to a major international shipping group with a fleet of approximately 100 vessels on re-structuring their loan facilities (approximately US$700 million).

Syndicate of junior lenders

Concurrently advised a syndicate of junior lenders in respect of documenting a US$37,840,000 term loan for the take-out of senior lenders and the re-structuring of their distressed loan facilities of US$260 million, US$5 million and US$4.5 million to a shipping company.

Syndicate of banks

Advised a syndicate of banks on its US$150 million term loan and revolving credit facilities to a major offshore energy services group for the purposes of exiting its scheme of arrangement.

More: Restructuring and insolvency

Marine and international trade

Chinese lender

Represented a Chinese lender in respect of its US$400 million trade finance facility to an energy company.

United Arab Emirates financial institution

Assisted a United Arab Emirates financial institution on its US$55 million to an entity in Dubai for advance payment in respect of purchase of cement clinkers.

Indian bank

Advised on a US$20 million loan facility from an Indian bank to a coal mining business in Indonesia for servicing of its clients (thermal power stations in India).

More: Marine and international trade

Leveraged and acquisition finance

Japanese bank

Advised a Japanese bank in respect of its US$600 million bridge loan facility to a leading pharmaceutical manufacturing company for the acquisition of a target company in the United States of America.

London branch of a leading financial institution

Acted for the London branch of a leading financial institution in respect of its €110 million term loan facility to a Dutch borrower for the acquisition of an Austrian target.

London branch of a leading Japanese bank

Assisted the London branch of a leading Japanese bank in respect of its US$120 million term loan facility to an American pharmaceutical company for its company acquisition.

More: Leveraged and acquisition finance

Corporate

Leading Indian shipping company

Advised a leading Indian shipping company on its US$2 million equity investment into a Dubai company.

Singapore shipping company

Advised a Singapore shipping company in relation to the divestment of its business and assets.

Shareholders' agreement

Advised on a shareholders’ agreement for asset acquisition from an oil and gas equipment company.

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Finance

State Bank of India 

Acting as local counsel to State Bank of India, Hong Kong branch on its US$1 billion loan financing from Japan Bank for International Cooperation.

Pharmaceutical company 

Advising an international pharmaceutical company on a US$210 million loan facility for the establishment of a new regional centre in Southeast Asia.

Japanese bank 

Advising a Japanese bank on a series of financing, including the US$300 million convertible bridge loan to a global pharmaceutical company, a US$85 million loan to a leading biopharmaceutical company, and a S$120 million acquisition financing to a Philippines-based personal care manufacturer.

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Decarbonisation

Peacock sustainability-linked financing

Advised a syndicate of lenders – comprising ABN AMRO Bank, ING Bank, TIAA FSB, Clifford Capital, and new joiners KeyBank and CIC – on documenting and increasing Peacock Container Group's (Peacock) sustainability-linked loan.

ANZ Bank

Advised ANZ Bank on a US$50 million sustainability-linked loan to U-Ming Marine Transport (S) Pte Ltd, which is a fully owned subsidiary of U-Ming Marine Transport Corporation.

Mekong Timber Plantations

Acted for Mekong Timber Plantations, a leading sustainable plantation forestry business, on its financing and expansion of certain planted areas in Laos.

Life sciences

COVID-19 vaccine pharmaceutical company

Advised an international pharmaceutical company on a US$210 million loan facility for the establishment of a new regional centre in Singapore.

MUFG Bank

Advised MUFG Bank on a series of financing, including a US$300 million convertible bridge loan to a global pharmaceutical company, a US$85 million loan to a leading biopharmaceutical company, and a S$120 million acquisition financing to a Philippines-based personal care manufacturer.

Singapore bank

Advised on a US$90,825,000 loan facility to a leading pharmaceutical company in Singapore for re-financing of its resettable onward starting equity-linked securities (bonds). 

Technology

MUFG Bank

Advised MUFG Bank on a US$150 million refinancing to a leading business and IT professional services firm in India.

HDFC Bank

Advise HDFC Bank on two separate loan facilities aggregately US$86,000,000 to a leading Indian technological company focusing on pharmaceuticals which is based in Bangalore.

CTBC Bank

Acted for CTBC Bank on a US$15,000,000 to a private sector institution (in joint venture with International Finance Corporation) offering financing to companies involved in clean technology.

Transportation and trade

National Australia Bank (KDB)

Advised National Australia Bank and The Korea Development Bank on their US$236,400,000 secured facility to Korean group for refinancing of existing debt facilities relating to two 174,000 cbm membrane type, MEGI Engine, LNG vessel tankers.

OCP Asia

Acted for OCP Asia, a leading Asia focused investment manager on a secured credit facility to its Indonesian borrower to finance the acquisition of a 50,000 dwt gas producing floating production storage and offloading (FPSO) operating in an offshore field in Indonesia.

Bank of Communications Financial Leasing

Advised Bank of Communications Financial Leasing in respect of the ground breaking transaction in connection with the US$900 million lease financing by a syndicate of PRC lessors of the cruiseship ‘Genting Dream’.

Private capital and funds

State Bank of India

Advised the State Bank of India on a US$1 billion credit facility to the Government of Sri Lanka.

ASEAN Industrial Growth Fund

Advised ASEAN Industrial Growth Fund (AIGF) on its investment in BHS Kinetic, and on the acquisition financing of a logistics company.

Dental Innovation Investment A BV

Advised Dental Innovation Investment A BV on its investment in Proof & Company, one of Asia Pacific's leading independent spirits companies, which has a wide-ranging portfolio of independent spirits brands.

More: Private capital and funds

International trade

Indian bank

Advised on a US$20 million loan facility from an Indian bank to a coal mining business in Indonesia for servicing of its clients (thermal power stations in India).

Back-to-back letter of credit

Assisted on a US$12.5 million back-to-back letter of credit and US$2.5 million term loan facilities from an Indian bank to a Singapore subsidiary of a leading infrastructure and energy company.

Trade finance bank

Advised a trade finance bank on its US$13 million facility to a Russian infrastructure company.

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Energy and natural resources

Private bank

Acted for a private bank in respect of its US$600 million and US$250 million guarantee facilities to two affiliated energy companies for counter-guaranteeing payment obligations for de-listing exercises.

Multiple lenders

Concurrently advised multiple lenders in respect of their US$153 million, US$150 million, US$135.5 million, US$63.6 million and US$61.5 million bilateral loan facilities to an offshore energy company for the acquisition of over twenty vessels.

Singapore energy company

Advised a Singapore energy company on the disposal of its shareholding in a Liberian plantation company and a listed crude palm oil producer to a listed Malaysian multinational plantation company.

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Banks and banking

British bank

Represented a British bank, Indian bank and French bank in respect of their bilateral US$400 million, US$100 million, US$100 million and US$45 million term loan facilities to the Hong Kong branch of a government owned bank for general corporate purposes.

Leading Singapore-based lender

Acted for a leading Singapore-based lender in relation to its US$350 million and US$200 million term loans to the Hong Kong branch of an Indian state-owned bank for general working capital purposes.

Japanese, Singaporean, Indian and British lenders

Separately advised Japanese, Singaporean, Indian and British lenders in respect of their US$230 million, US$150 million, US$75 million, US$75 million and US$70 million bilateral loans to a leading American IT services and consulting company.

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Aviation

Aerospace group

Acted for an aerospace group in relation to its US$140 million export credit financing term loan facility from a syndicate of banks for the purposes of financing of four (4) ATR-500 and four (4) ATR-600 aircraft.

Australian bank

Advised an Australian bank in respect of a US$132 million loan facility to an aircraft owning/leasing arm of a Chinese bank for the purchase of three (3) A320-200 aircraft.

New Zealand airline

Acted for a New Zealand airline in respect of its financing (approximately US$100 million) of three A320 aircraft from Japanese and Australian lenders.

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Japan

Syndicate of Japanese banks

Represented a syndicate of Japanese banks in respect of their US$188 million limited recourse financing to Japanese and Indian sponsors for the purchase of a liquefied natural gas carrier and the development of an import and re-gasification plant.

London branch

Assisted the London branch of a leading Japanese bank in respect of its US$120 million term loan facility to an American pharmaceutical company for its company acquisition.

American, European and Japanese financers

Separately acted for an American financier, a European financier and a Japanese financer in relation to their US$50 million, US$45 million and US$20 million bilateral term loan facilities to an Indian pharmaceutical company.

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The Middle East

Banks in London, Singapore and United Arab Emirates

Assisted banks in London, Singapore and United Arab Emirates on their US$202 million project financing facility to a joint venture entity for the purchase of a floating production offloading and storage unit.

United Arab Emirates financial institution

Assisted a United Arab Emirates financial institution on its US$55 million to an entity in Dubai for advance payment in respect of purchase of cement clinkers.

Shipowner

Assisted a shipowner with the sale of its vessel to a major oil company in Dubai for US$21.7 million and the concurrent termination of chartering and financing arrangements in relation to the vessel.

More: The Middle East

Southeast Asia

Two syndicates of international banks

Represented two syndicates of international banks on two separate term loan facilities (US$1 billion and US$1.6 billion) to a subsidiary of a Malaysian national oil conglomerate for re-financing purposes.

Two leading Japanese banks

Advised two leading Japanese banks in respect of their bilateral US$100 million and US$100 million term loan facilities to a leading Philippines financial institution for corporate purposes.

German and Korean bank

Represented a German bank and a Korean bank in relation to its US$87 million loan facility to an Irish borrower for the purposes of financing of three (3) airbus A320-200 aircraft.

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India

Lenders of a leading Indian oil and natural gas company

Represented lenders of a leading Indian oil and natural gas company on a US$200 million term loan facility for corporate purposes.

Singapore branch of a leading financial institution

Assisted a Singapore branch of a leading financial institution in relation to two consecutive term loan facilities in the amounts of US$70 million and US$22.8 million to a leading aluminium manufacturing company headquartered in India.

Financiers of a leading Indian road operator

Assisted financiers of a leading Indian road operator in respect of their US$60 million term loan facility.

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China

Syndicate of Indian and Chinese banks

Acted for a syndicate of Indian and Chinese banks in respect of their US$290 million project financing facility to a Malaysian and Indian joint venture entity for the purpose of purchasing and converting a vessel into a floating production offloading and storage unit for chartering to a multinational oil and gas major.

One of the largest shipbuilding conglomerates in China

Advised one of the largest shipbuilding conglomerates in China in relation to its US$1.2 billion conversion financing sale and lease back arrangements to an English liquefied natural gas shipping company.

The leasing arm of a leading Chinese bank

Acted for the leasing arm of a leading Chinese bank in respect of its US$540 million structured sale and lease back financing of two liquefied nature gas floating storage regasification vessels with an English liquefied natural gas shipping company.

More: China