Cleary Gottlieb has represented Citigroup, Credit Suisse and Deutsche Bank as underwriters in a US-registered offering by the Republic of the Philippines of US$1billion 6.375 percent global bonds due 2032. The offering was the first offering by a sovereign in 2007. The bonds were listed on the EuroMTF, the alternative market of the Luxembourg Stock Exchange. The Philippines is the most frequent sovereign borrower in Asia outside of Japan. Cleary is the designated underwriters’ counsel for offerings by the Philippines.

Clifford Chance has advised the Trade and Development Bank of Mongolia (TDBM) on the first bank euro medium-term note (EMTN) programme in Mongolia. TDBM is Mongolia’s largest bank by assets. The EMTN programme is valued at US$150 million, with the first drawdown of US$75 million 8.625 percent notes due 2010, and is listed on the Singapore Stock Exchange. ING was the sole arranger for the deal.

DLA Piper has represented Actis Capital LLP, a leading private equity investor in emerging markets, in a US$73 million private equity financing for China TZN Company. China TZN Company is incorporated in the Cayman Islands and operates the Tai Zi Nai brand dairy business in China. In addition to Actis Capital, co-investors in the financing included Morgan Stanley and Goldman Sachs. Actis Capital is a leading private equity investor in emerging markets with over 90 professionals in 16 offices worldwide. The firm invests globally in many emerging markets, particularly in Africa, China, South America and Southeast Asia.

DLA Piper has represented Qiming Venture, a leading venture capital firm, and Ignition Partners, on its investment in Yeelion Inc, a Beijing based online entertainment company. DLA Piper Seattle and Beijing offices shared the effort to conclude the transaction. Based in Shanghai, Qiming is a premier venture capital firm focused on investments in early stage ventures, and is in partnership with Ignition Partners.

Johnson Stokes & Master has advised Integrated Distribution Services Group Limited on its acquisition of Sitt Tatt Logistics Sdn Bhd (a company which operates a logistics business in Malaysia) and various real property owned by the seller of Sitt Tatt, for an aggregate consideration of RM94.5 million (approximately HK$200.23 million).

Watson, Farley & Williams has acted for the Indian energy group, regarding the financing of its mandatory offer to acquire the Norwegian listed Aban Offshore drilling company Sinvest in a US$800million deal. To finance the acquisition, Aban raised funds by way of Convertible Notes with Merrill Lynch acting as placement agent. Aban also raised financing by way of a series of facilities including a medium term facility underwritten by UTI Bank for US$100 million. If the offer is successful, Aban will gain access to Sinvest’s five jack-up rigs, including three under construction in Singapore. Aban operates seven jack-up rigs, including one under construction, two drillships and a floating production semi-submersible rig.