Allen & Gledhill has advised DBS Group Holdings on the issue of US$800 million 1.194 percent notes due 2027, under its US$30 billion global medium term note program. DBS Bank was appointed sole global coordinator for the notes. Partner Glenn Foo led the firm’s team in the transaction.

Allen & Gledhill has also acted as transaction counsel to venture capital firms Wavemaker Pacific 3 and Defy Partners II on leading a US$30 million Series A funding round in Bazaar, a Pakistan-based B2B e-commerce operator of Pakistan’s leading online market place that connects retailers directly with wholesalers and manufacturers. Bazaar will use the financing to expand into more cities across Pakistan, and broaden its product and financial services offerings. Nicholas Soh led the firm’s team in the transaction, which is one of Pakistan’s largest Series A funding round.

AZB & Partners has advised The Hongkong and Shanghai Banking Corporation and Axis Bank Singapore Branch, as the dealers, on the update of the US$5 billion global medium term note program by Axis Bank. Partners Varoon Chandra, Anand Shah and Hufriz Wadia led the firm’s team in the transaction, which was completed on August 19, 2021.

AZB & Partners has also advised Schott, the existing 50:50 joint venture partner in Schott Kaisa, on the acquisition of 50 percent stake by Serum Institute of India in Schott Kaisa from Karius Dadachanji and Shapoor Mistry, and the amendment of the existing shareholders agreement between Schott and the sellers. Partner Daksh Trivedi led the firm’s team in the transaction, which was completed on August 17, 2021.

Clifford Chance has advised OCP Asia on a syndicated A$190 million (US$137.5m) senior asset-based loan facility and a syndicated A$156.5 million (US$113.23m) subordinated term loan facility for National Group. OCP Asia has a proven track record of providing customized secured lending solutions for businesses across Australia and the Asia Pacific region. The refinancing came amid an increase in activities at National Group, an Australian group of companies from the mining, resource, transport and logistics industries, with a focus on heavy earthmoving equipment and end-to-end production mining services. Partners Mark Gillgren, Mark Currell and Scott Bache led the firm’s team in the transaction.

Clifford Chance has also advised China Three Gorges South Asia Investment (CSAIL), a subsidiary of China Three Gorges Corporation (CTG), on the financing for a CSAIL-led consortium’s acquisition of Dubai-based wind and solar developer Alcazar Energy Partners (AEP) from a group of funds linked to Abu Dhabi’s Mubadala Investment, Dubai-based BluStone Management and the World Bank’s International Finance Corporation. AEP’s portfolio includes five solar and two wind projects across Jordan and Egypt, with a total generation capacity of 411 MW. CTG is China’s largest clean energy group. Through this transaction, CTG further expands its global footprint on renewable energy to the Middle East and North Africa region. Partner Vicky Ma led the firm’s team in the transaction.

Davis Polk has advised the initial purchasers on a Regulation S offering by Hong Kong-listed Zensun Enterprises of US$57.58 million 12.5 percent senior notes due 2023, guaranteed by Zensun Group, as the parent guarantor, and certain subsidiary guarantors. Concurrently with the notes offering, the firm also advised the deal managers on the offer to exchange outstanding 12.8 percent senior notes due 2021 of Zensun Enterprises for an additional issuance of US$142.42 million 12.5 percent senior notes due 2023, guaranteed by Zensun Group, as the parent guarantor, and certain subsidiary guarantors. Zensun Group is a developer of a range of residential properties that cater to the various demands and preferences of middle to upper-middle class customers in Zhengzhou and selected cities. Partners Gerhard Radtke and Yang Chu led the firm’s team in the transaction.

Davis Polk has also advised the initial purchasers on a Regulation S offering by Zhenro Properties of its US$250 million 6.5 percent senior notes due 2022. Hong Kong-listed Zhenro Properties is a large comprehensive property developer in China focusing on the development of residential properties, and the development, operation and management of commercial and mixed-use properties. Hong Kong partners Gerhard Radtke and Xuelin (Steve) Wang led the firm’s team in the transaction.

Goodwin is advising Tiancheng International Investment on its proposed sale for €1.1 billion (US$1.3b) of Tiancheng Pharmaceutical Holding to Grifols. Tiancheng Pharmaceutical is a German subsidiary of Hong Kong-based Tiancheng International Investment, and the owner of 89.88 percent of Biotest ordinary shares and 1.08 percent of Biotest preferred shares. Biotest is a Germany-listed healthcare company specialising in innovative hematology and clinical immunology. The transaction values Biotest at approximately €1.6 billion (US$1.87b). Grifols is a global healthcare leader in plasma-derived medicines, transfusion diagnostics and hospital pharmacy solutions. Parallel to the Tiancheng acquisition, it has launched a voluntary public takeover for all outstanding shares of Biotest. Partners Gregor Klenk and Carl Bradshaw led the firm’s team in the transaction.

J Sagar Associates has advised Microsoft on its US$5 million investment, via subscription to equity shares and compulsorily convertible cumulative preference shares, in Oravel Stays, operator of budget hospitality chain under the brand name OYO. Partner Lalit Kumar led the firm’s team in the transaction.

J Sagar Associates has also advised Cars24, India’s leading e-commerce platform for pre-owned vehicles, on its US$340 million Series F equity round. The Series F equity round was led by DST Global, Falcon Edge and SoftBank Vision Fund 2. The round also saw participation by Tencent and existing investors Moore Strategic Ventures and Exor Seeds. Alongside equity, Cars24 also raised a debt of US$110 million. Post this fund raise, Cars24 has nearly doubled its valuation to US$1.84 billion. Partner Trisheet Chatterjee, supported by partners Zain Pandit, Sarvesh Kumar Saluja, Vaibhav Choukse and Minu Dwivedi, led the firm’s team in the transaction.

Kudun and Partners has acted as lead counsel to BG Container Glass (BGC) on its β1.26 billion (US$37.7m) acquisition from Eternity Power (formerly known as Eastern Power Group) of 100 percent shares in Solar Power Management (Thailand). The largest manufacturer of glass containers listed in Thailand, BGC operates five manufacturing glass packaging containers in Thailand. Solar Power Management holds 67 percent shareholding in Phu Khanh Solar Power, which operates two solar power projects in Phu Yen Province of Vietnam with a total installed capacity of 99.21 MW. Partners Kudun Sukhumananda, Kongkoch Yongsavasdikul and Chai Lertvittayachaikul led the firm’s team in the transaction.

Kudun and Partners has also represented nForce Secure, operator of wholesale computer peripheral equipment and software, on its IPO of its shares and the listing of its shares on the Market for Alternative Investment (mai), with a trading value of β443.8 million (US$13.3m). Partner Kudun Sukhumananda led the firm’s team in the transaction.

Maples and Calder has acted as Cayman Islands counsel to MicroPort Scientific Corporation on its issue of US$700 million principal amount of zero coupon convertible bonds due 2026. At the option of the holder, the bonds will be convertible, starting July 22, 2021 until June 1, 2026, into fully paid ordinary shares with par value of US$0.00001 each in the issued and paid up capital of the issuer, at an initial conversion price of HK$92.8163 (US$11.92) per share. MicroPort is a leading medical device group focusing on developing, manufacturing and marketing high-end medical devices globally. Partner Lorraine Pao led the firm’s team in the transaction, while Sidley Austin acted as English and Hong Kong laws counsel, and Global Law Office acted as Chinese law counsel. Clifford Chance acted as English law counsel, while Commerce & Finance Law Offices acted as Chinese law counsel to the joint lead managers.

Maples and Calder has also acted as BVI counsel to CSCIF Asia on the update of its US$3 billion medium term note program, unconditionally and irrevocably guaranteed by CSC Financial, and on its issue of US$500 million 1.125 percent guaranteed notes due 2024 under the program. The program and the notes are listed in Hong Kong. Together with CSCIF Asia and CSC Financial’s subsidiaries, the CSC Group is a leading large full-service investment bank in China. Partner Karen Zhang Pallaras led the firm’s team in the transaction. CSCIF Asia and CSC Financial were advised by Davis Polk & Wardwell on English law and by Tian Yuan Law Firm on Chinese law. Linklaters and Guantao Law Firm acted as English law counsel and Chinese law counsel, respectively, for the dealers and managers.

Shearman & Sterling has represented JP Morgan, as the initial purchaser, on KWG Group Holdings’ tap offering of US$158 million 7.4 percent senior notes due 2024. The firm also represented China CITIC Bank International, Guotai Junan International, Haitong International, HSBC, Standard Chartered Bank, CMBC Capital, Credit Suisse, JP Morgan Securities, The Bank of East Asia and UBS, as the initial purchasers, on KWG Group’s tap offering of US$100 million 5.95 percent senior notes due 2025. Hong Kong capital markets partner Alan Yeung led the firm’s team in the transaction.

WongPartnership has also acted for Keppel on the establishment of US$1 billion Euro-Commercial Paper Program first digitalized for issuances under the FIX Marketplace. DBS is the sole arranger and dealer of the program. Partners Hui Choon Yuen and Trevor Chuan led the firm’s team in the transaction.