Allen & Gledhill has advised SIA Engineering on the establishment of its S$1 billion (US$738m) euro medium term note program. Partners Margaret Chin and Sunit Chhabra led the firm’s team in the transaction.
Allen & Gledhill has also advised Medco Energi Internasional on the issue of US$400 million 6.95 percent senior notes due 2028. Partner Glenn Foo led the firm’s team in the transaction.
AZB & Partners has advised Michael & Susan Dell Foundation on its acquisition of equity stake in Arthan Finance. Partners Hardeep Sachdeva and Priyamvada Shenoy led the firm’s team in the transaction, which was signed on December 15, 2021 and completed on December 20, 2021.
AZB & Partners has also advised PAG Asia Capital affiliates PAGAC Ariane and Asia Pragati Strategic Investment Fund on their Rs10.54 billion (US$141.3m) acquisition of a more than 50 percent controlling stake in Acme Formulations. Partners Ashwath Rau, Atreya Bhattacharya and Jasmin Karkhanis led the firm’s team in the transaction, which was completed on September 30, 2021.
Baker McKenzie has acted as international counsel to CITIC Group on its investment into China Huarong Asset Management, pursuant to a Rmb42 billion (US$6.6b) capital increase exercise undertaken by China Huarong. Besides CITIC, China Huarong has also received investments from other investors, including China Insurance Investment, China Cinda, China Life Insurance and ICBC Investment. China Huarong is one of the four major state-owned financial asset management companies in China. Its main business covers distressed asset management, financial services, and asset management and investment, with distressed asset management as its core business. As a result of this investment, CITIC will become one of the key shareholders of China Huarong. M&A partner Bee Chun Boo, supported by banking and finance partners Simon Leung (Hong Kong) and Cui Duan (Beijing), capital markets partners Christina Lee (Hong Kong) and Wang Hang (Beijing), financial services regulatory partner Karen Man (Hong Kong) and US compliance and regulatory partner Sylwia Lis (Washington DC), led the firm’s team in the transaction.
Clifford Chance has advised China Huarong Asset Management on its Rmb42 billion (US$6.6b) recapitalization and strategic equity investment. The strategic investment involves the issuance of approximately 39.2 billion domestic shares and approximately 1.96 billion H shares to state-owned Chinese investment firms CITIC Group, China Insurance Investment, China Cinda, China Life Asset Management and ICBC Investment. China co-managing partner Tim Wang, supported by partner Yufei Liao, led the firm’s team in the transaction, while Haiwen & Partners acted as Chinese law counsel.
Maples and Calder has acted as Cayman Islands counsel to HPHT Finance (21) (II) on its issuance of US$500 million 1.5 percent guaranteed notes due 2026, unconditionally and irrevocably guaranteed by Hutchison Port Holdings Trust, acting through its trustee-manager (initially Hutchison Port Holdings Management), and by HPHT. Partner Everton Robertson led the firm’s team in the transaction, while Linklaters acted as English and Hong Kong counsel. Allen & Overy acted as English and Hong Kong counsel to the lead managers, including Merrill Lynch (Asia Pacific), DBS Bank, The Hongkong and Shanghai Banking Corporation and Standard Chartered Bank (Hong Kong).
Maples and Calder has also acted as BVI counsel to New Lion Bridge on its US$150 million 5.8 percent guaranteed notes due 2022, unconditionally and irrevocably guaranteed by Lionbridge Capital. The notes are listed in Hong Kong. New Lion Bridge and its group entities focus on providing financing solutions to their customers in China’s commercial vehicle market. Partner Karen Zhang Pallaras led the firm’s team in the transaction, while Davis Polk & Wardwell advised on US and Hong Kong laws, and JunHe advised on Chinese law. The initial purchasers were advised by Simpson Thacher & Bartlett as to US law and by Global Law Office as to Chinese law.
Rajah & Tann Singapore has acted for the purchasers on the S$1.28 billion (US$944m) acquisition of One George Street, a Grade A office tower in the central business district of Singapore, from One George Street. The firm also acted for the purchasers on the financing of the acquisition via a loan facility. Partners Norman Ho, Ng Sey Ming, Tan Mui Hui, Gazalle Mok and Ho Mei Shi led the firm’s team in the transaction.
Rajah & Tann Singapore has also acted for Japfa on its strategic partnerships with three existing customers of its subsidiary, AustAsia Investment Holdings, involving a US$146 million sale of an aggregate of 12.5 percent of the issued shares of AustAsia to a subsidiary of Genki Forest Technology Group Holdings, Honest Dairy Group and New Hope Dairy. Partners Evelyn Wee and Goh Jun Yi led the firm’s team in the transaction.
Simpson Thacher is advising Chervon Holdings on its IPO and Rule 144A and Regulation S offering. Chervon offered approximately 72 million shares, prior to the exercise of the underwriters’ overallotment option. The base offering size was HK$3.14 billion (US$403m). The shares of Chervon are listed in Hong Kong. Partners Christopher Wong and Yi Gao led the firm’s team in the transaction.
WongPartnership has acted for a global investment firm on the US$99.5 million funding round of One Championship. The fundraise met the condition for One Championship to turn approximately 42 percent of its new shares, which are worth US$174 million, from redeemable convertible loan notes to preference shares. Upon release of its new shares, One Championship’s valuation has increased to US$1.2 billion. Partners Mark Choy and Kyle Lee led the firm’s team in the transaction.
WongPartnership has also acted for EDBI on the US$25 million extended Series A funding round of Sleek. Partner Kyle Lee led the firm’s team in the transaction.