Allen & Gledhill has acted as transaction counsel to DBS Bank, Oversea-Chinese Banking Corporation, Sumitomo Mitsui Banking Corporation Singapore Branch and United Overseas Bank on the S$974 million (US$717m) and S$147 million (US$108m) green loan facilities to GuocoLand. GuocoLand’s largest green loan facilities to date, the S$974 million (US$717m) will be used to refinance GuocoLand’s borrowings in connection with the commercial component of Guoco Tower, an integrated mixed-use development in Tanjong Pagar, Singapore. The S$147 million (US$108m) green loan facilities will be used to refinance GuocoLand’s borrowings in connection with Sofitel Singapore City Centre, a five-star luxury hotel in Tanjong Pagar, Singapore. DBS, OCBC, SMBC and UOB were appointed as mandated lead arrangers, while DBS, OCBC and UOB were appointed as green loan advisors. Partner Aloysius Ng led the firm’s team in the transaction.
Allen & Gledhill has acted as transaction counsel to Oversea-Chinese Banking Corporation, as the sole lead manager and book-runner, on the issue of S$550 million (US$405m) 4.5 percent perpetual capital securities first callable in 2029, under its US$30 billion global medium term note programme. Partner Glenn David Foo led the firm’s team in the transaction.
Moreover, Allen & Gledhill has acted as transaction counsel to venture capital firm Wavemaker Pacific 3 on leading a convertible note investment in AimBiotech, a biotechnology start-up focused on leading the shift from preclinical animal models to humanised in vitro physiological models for the discovery of new medicines. Partner Nicholas Soh led the firm’s team in the transaction.
Allen & Gledhill has acted as transaction counsel to DBS Bank, Oversea-Chinese Banking Corporation, Sumitomo Mitsui Banking Corporation Singapore Branch and United Overseas Bank on the S$974 million (US$717m) and S$147 million (US$108m) green loan facilities to GuocoLand. GuocoLand’s largest green loan facilities to date, the S$974 million (US$717m) will be used to refinance GuocoLand’s borrowings in connection with the commercial component of Guoco Tower, an integrated mixed-use development in Tanjong Pagar, Singapore. The S$147 million (US$108m) green loan facilities will be used to refinance GuocoLand’s borrowings in connection with Sofitel Singapore City Centre, a five-star luxury hotel in Tanjong Pagar, Singapore. DBS, OCBC, SMBC and UOB were appointed as mandated lead arrangers, while DBS, OCBC and UOB were appointed as green loan advisors. Partner Aloysius Ng led the firm’s team in the transaction.
Allen & Gledhill has acted as transaction counsel to Oversea-Chinese Banking Corporation, as the sole lead manager and book-runner, on the issue of S$550 million (US$405m) 4.5 percent perpetual capital securities first callable in 2029, under its US$30 billion global medium term note programme. Partner Glenn David Foo led the firm’s team in the transaction.
Moreover, Allen & Gledhill has acted as transaction counsel to venture capital firm Wavemaker Pacific 3 on leading a convertible note investment in AimBiotech, a biotechnology start-up focused on leading the shift from preclinical animal models to humanised in vitro physiological models for the discovery of new medicines. Partner Nicholas Soh led the firm’s team in the transaction.
AZB & Partners has also advised Hyperion Investments on its Rs6.4 billion (US$77m) acquisition, together with Temasek, of equity shares in Dr. Agarwal’s Health Care. Partners Nandish Vyas and Vasudha Asher led the firm’s team in the transaction, which was completed on August 10, 2023.
Moreover, AZB & Partners is advising Warburg Pincus affiliate Sweet Clover Investment on the more than US$50 million acquisition by CEVA Corporate Services of 96 percent of shareholding of Stellar Value Chain Solutions from Sweet Clover Investments and Stellar Value Chain Solutions promoter Mr Anshuman Singh. Partners Anil Kasturi and Anisha Shridhar are leading the firm’s team in the transaction, which was signed on August 18, 2023 and is yet to be completed.
Cyril Amarchand Mangaldas has advised Dai-ichi Life Holdings on the purchase of CCPS amounting to 11.65 percent of the shareholding of D2C Consulting Services. The purchase of CCPS was done on a fully diluted basis, as part of the latest funding round. Partners Indranath Bishnu and Pranjita Barman led the firm’s team in the transaction, which was signed on June 27, 2023 and closed on June 30, 2023.
Cyril Amarchand Mangaldas has also acted as sole transaction for ITC on the demerger of its hotels business, via scheme of arrangement, into ITC Hotels, a wholly-owned subsidiary of ITC. The scheme was approved by the ITC board on August 14, 2023. Managing partner Cyril Shroff and partner Ramgovind Kuruppath, supported by partner Anand Jayachandran, led the firm’s team in the team in the transaction, which is expected to close in 12-15 months, subject to receipt of requisite approvals.
AZB & Partners has also advised Hyperion Investments on its Rs6.4 billion (US$77m) acquisition, together with Temasek, of equity shares in Dr. Agarwal’s Health Care. Partners Nandish Vyas and Vasudha Asher led the firm’s team in the transaction, which was completed on August 10, 2023.
Moreover, AZB & Partners is advising Warburg Pincus affiliate Sweet Clover Investment on the more than US$50 million acquisition by CEVA Corporate Services of 96 percent of shareholding of Stellar Value Chain Solutions from Sweet Clover Investments and Stellar Value Chain Solutions promoter Mr Anshuman Singh. Partners Anil Kasturi and Anisha Shridhar are leading the firm’s team in the transaction, which was signed on August 18, 2023 and is yet to be completed.
Cyril Amarchand Mangaldas has advised Dai-ichi Life Holdings on the purchase of CCPS amounting to 11.65 percent of the shareholding of D2C Consulting Services. The purchase of CCPS was done on a fully diluted basis, as part of the latest funding round. Partners Indranath Bishnu and Pranjita Barman led the firm’s team in the transaction, which was signed on June 27, 2023 and closed on June 30, 2023.
Cyril Amarchand Mangaldas has also acted as sole transaction for ITC on the demerger of its hotels business, via scheme of arrangement, into ITC Hotels, a wholly-owned subsidiary of ITC. The scheme was approved by the ITC board on August 14, 2023. Managing partner Cyril Shroff and partner Ramgovind Kuruppath, supported by partner Anand Jayachandran, led the firm’s team in the team in the transaction, which is expected to close in 12-15 months, subject to receipt of requisite approvals.
Moreover, Trilegal is representing Hyundai Motor India on its acquisition of identified assets, land and buildings, plant and machinery situated at General Motors India manufacturing facility in Talegaon, Maharashtra. The parties executed an Asset Purchase Agreement on August 16, 2023. Corporate practice head partner Yogesh Singh and partner Ankush Goyal, supported by partners Apeksha Mattoo (labour & employment), Gautam Chawla (competition) and Siddharth Ranade (dispute resolution), led the firm’s team in the transaction, which is subject to the fulfilment of customary conditions precedent, including relevant governmental and regulatory approvals.
Shardul Amarchand Mangaldas has advised SBFC Finance on its IPO, via a fresh issue of approximately 105.3 million equity shares aggregating to Rs6 billion (US$72.3m) and an offer for sale by the promoter selling shareholders of approximately 74.56 million equity shares aggregating to Rs4.25 billion (US$51m). The deal was valued at approximately Rs10.25 billion (US$123.5m). The equity shares of SBFC Finance were listed on the India stock exchanges on August 16, 2023. The proceeds of the fresh issue are to be utilized to bolster SBFC’s capital base to meet its future capital requirements arising from the growth of its business and assets. Partner Nikhil Naredi led the firm’s team in the transaction. Trilegal and Hogan Lovells Lee & Lee advised the book-running lead managers, namely ICICI Securities, Axis Capital and Kotak Mahindra Capital, on the legal and international legal aspects, respectively.
Shardul Amarchand Mangaldas , also advised Brookfield India Real Estate Trust on its institutional placement of approximately 91.3 million units aggregating to Rs23 billion (US$277.5m) to fund the acquisition of commercial properties in Downtown Powai, Mumbai and Candor TechSpace, Gurugram. The Brookfield India Real Estate Trust is India’s third listed real estate investment trust; this was the second institutional placement by a listed Indian REIT. The deal was facilitated through an amendment to the applicable pricing guidelines. Partner Nikhil Naredi, supported by partners Jay Gandhi and Abhishek Parekh, led the firm’s team in the transaction, which was valued at approximately US$288.16 million. Sidley Austin advised the issuer on the international aspect. White & Case advised the book-running lead managers, namely BofA Securities India, Morgan Stanley India, Kotak Mahindra Capital, Citigroup Global Markets India, Axis Capital, Jefferies India, IIFL Securities, JM Financial, SBI Capital Markets, BOB Capital Markets and ICICI Securities, on the international aspect.
TT&A has advised Norfund, the Norwegian Investment Fund for Developing Countries, on a follow-on equity investment in Fourth Partner Energy, a renewable energy solutions company. Partners Gautam Saha and Dushyant Bagga led the firm’s team in the transaction.
TT&A has also assisted United States International Development Finance Corporation (DFC) on un-funded guaranty to be provided by DFC to the Hongkong and Shanghai Banking Corporation India (HSBC), in relation to the loans to be provided by HSBC to INI Farms, which is now merged with Ulink Agritech (also known as Agrostar). Partners Gautam Saha, Pallavi Meena and Pragya Sood led the firm’s team in the transaction.