A&O Shearman has acted as sole international counsel to the underwriters on the IPO of Turtlemint Fintech Solutions, a leading technology-enabled insurance distribution platform in India. The offering comprises a fresh issue of equity shares, alongside an offer for sale by certain existing shareholders, with a total size of approximately Rs8.83 billion (US$93m). The shares were listed in the Indian stock exchanges. Founded in 2015, Turtlemint operates a technology-driven platform that connects customers, insurance advisors and insurers, offering a comprehensive range of retail insurance products and other financial products. Turtlemint has established a strong and growing presence across India, and is backed by prominent institutional investors. The IPO represents the second listing by an insurtech platform in India, highlighting the sector’s increasing maturity as it continues to scale and access public markets. The transaction also reflects the resilience of India’s equity capital markets and continued investor interest in technology-led businesses, notwithstanding a more selective global capital raising environment. Partner Pallavi Gopinath Aney led the firm’s team in the transaction. Davis Polk has advised DSC Holdings on its SEC-registered IPO of three million American depositary shares (ADSs), with total proceeds of approximately US$51 million. Each ADS represents 20 DSC Class A ordinary shares. DSC has granted the underwriters an option to purchase up to an additional 450,000 ADSs. Nasdaq-listed DSC is the AI application infrastructure for China’s used car industry. DSC has held an over 90 percent market share in operating systems for China’s used car dealers since at least 2021. Building on this digital foundation, DSC further supports used car dealers with essential transaction services across their workflows. Beyond...

Allen & Gledhill has advised United Overseas Bank and The Hongkong and Shanghai Banking Corporation Singapore Branch on the S$660 million (US$09m) term loan facility to Asia Mobile Holdings. Partner Lim Wei Ting led the firm’s team in the transaction. Clifford Chance has acted as New York and US federal securities law counsel to Danantara Investment Management, the investment arm of Indonesia’s sovereign wealth fund Danantara, on its US$1.5 billion debut US dollar bond offering, under Regulation S, Rule 144A and Section 3(c)(7) of the US Investment Company Act of 1940, and on establishing a US$5 billion global medium-term note programme. The offering comprised US$750 million five-year notes, and US$750 million 10-year notes. This is the issuer’s first international bond offering, and marks a milestone in establishing its presence in global capital markets. Proceeds are expected to be used for general corporate purposes, including investments and refinancing existing debt. Partner Gareth Deiner, supported by partners Alan Yeung, Jeffrey LeMaster, Avrohom Gelber and Paul Koppel, led the firm’s team in the transaction. Clifford Chance has also advised funds managed by Ares Management, Abound Capital, InnoVen Capital and January Capital Growth Credit on a S$100 million (US$77m) debt financing to Silicon Box, a Singapore-based advanced semiconductor packaging and chiplet integration company. Silicon Box will use the proceeds to fund capacity expansion in its next phase of growth, following its recently completed US$150 million Series B2 equity round. The transaction reflects strong continued investor interest in the semiconductor and AI value chain, particularly in advanced packaging technologies, which are increasingly critical to next-generation computing and AI infrastructure. The deal also highlights the growing...

Allen & Gledhill has advised PSA Treasury and PSA International on the issue of S$400 million (US$312m) 2.70 percent guaranteed notes due 2056, under their US$5 billion global medium term note programme. The notes are unconditionally and irrevocably guaranteed by PSA International. Partners Wu Zhaoqi and Sunit Chhabra led the firm’s team in the transaction. Allen & Gledhill (Vietnam) is acting as transaction counsel to Thrive SL SEA on a strategic joint venture with Nam Long Commercial Property, a member of Nam Long Group. Under the JV agreement, the parties will jointly develop projects in Vietnam that integrate accommodation, healthcare, community amenities and professional operations. Managing partner Oh Hsiu-Hau is leading the firm’s team in the transaction. A&O Shearman has advised the joint lead managers on the issuance of Rmb6 billion (US$888m) sovereign green bonds by China’s Ministry of Finance (MOF). This represents China’s inaugural issuance of Rmb sovereign green bonds in the Hong Kong Special Administrative Region, and China’s second issuance of Rmb-denominated sovereign green bonds. The issuance comprised two tranches: Rmb3 billion (US$444m) 1.42 percent 3-year bonds, and Rmb3 billion (US$444m) 1.56 percent 5-year bonds. The bonds have been listed in Hong Kong. The offering attracted strong demand from a diverse array of international investors. The green bonds were issued under China’s Sovereign Green Bond Framework, which was released in February 2025. Under the framework, an equivalent amount to the net proceeds from the sale of the bonds will be fully used to finance and/or refinance eligible green expenditures from the MOF’s fiscal budget, which should contribute to the achievement of one or more of climate change...

Allen & Gledhill has advised Bayfront IABS VIII on the issue of five classes of notes, comprising of US$498.7 million Class A senior secured floating rate notes due 2047, US$124.7 million Class B senior secured floating rate notes due 2047, US$44 million Class C senior secured floating rate notes due 2047, US$29.3 million Class D senior secured floating rate notes due 2047, and US$36.637 million subordinated perpetual notes. The notes are backed by cash flows from a portfolio of project and infrastructure loans and bonds in the Asia-Pacific, Europe and Americas regions. The Class A Notes are rated Aaa (sf) and AAA sf by Moody’s and Fitch, respectively. The Class B and Class C Notes are rated Aa3 (sf) and Baa3 (sf), respectively, by Moody’s. The Class D Notes, as well as the Subordinated Perpetual Notes, are unrated. Bayfront IABS VIII is a wholly-owned and newly incorporated distribution vehicle of Clifford Capital Asset Finance, a subsidiary of Clifford Capital Holdings (together with its subsidiaries, Clifford Capital Group), that also includes the Asian Infrastructure Investment Bank as a shareholder. The transaction is Clifford Capital Group’s largest IABS transaction, and its second successive IABS issuance in Rule 144A/Reg S format, extending its reach to a broader global institutional investor base. Clifford Capital Group’s IABS issuances remain the only IABS/Infrastructure CLO globally to feature dual credit ratings from two rating agencies, Moody’s and Fitch, for its Class A Notes. Partners Yeo Wico, Jeanne Ong, Andrew Chan, Jo Tay and Sunit Chhabra led the firm’s team in the transaction. Allen & Gledhill has also advised the Housing Development Board on the issue of...

Allen & Gledhill has advised Frasers Property Aquamarine Trustee, as trustee-manager of Aquamarine Star Trust, on the S$1.08 billion (US$842m) term loan facility from United Overseas Bank, DBS Bank, Industrial and Commercial Bank of China Singapore Branch, Oversea-Chinese Banking Corporation, Bank of China Singapore Branch and Bank of Communications Singapore Branch. The facilities are aligned with the Green Loan Principles, and will be used to refinance existing borrowings relating to Frasers Tower. Partner Lim Wei Ting led the firm’s team in the transaction. Allen & Gledhill has also advised FC Retail Trustee, as trustee-manager of Sapphire Star Trust, on the S$589 million (US$459m) term and revolving credit facilities from DBS Bank and United Overseas Bank. The facilities are aligned with the Green Loan Principles, and will be used to refinance existing borrowings relating to Waterway Point. Partner Lim Wei Ting also led the firm’s team in the transaction. Moreover, Allen & Gledhill has advised Oversea-Chinese Banking Corporation on the issue of US$500 million floating rate notes due 2029, under its US$30 billion global medium term note programme. Partner Glenn David Foo led the firm’s team in the transaction. AZB & Partners is advising Bharti Airtel on its Rs282 billion (US$2.96b) acquisition of stake in Airtel Africa from Indian Continent Investment. Partners Anil Kasturi and Ashish Pareek are leading the firm’s team in the transaction, which was signed on May 13, 2026 and is yet to be completed. Clifford Chance has advised CICC and CITIC Securities (Hong Kong), as the joint sponsors, and the underwriters on Viewtrix Technology’s IPO and Hong Kong listing, raising approximately HK$1.1 billion (US$140m). Working with...