|Allen & Gledhill LLP has advised Alhambra, the arrangers, hedging banks, facility agent and security agent and the lenders in the company’s $S390.1 million rated mortgage-backed term loan facilities. The transaction marked the first such structure of its kind in Singapore. Lead partners involved in the transaction were Margaret Chin, Magdalene Leong, Jafe Ng, Cara Chan, Lyn Wee and Chew Mei Choo.
Allen & Gledhill LLP has advised Bukit Sembawang Estates Ltd in their launch of a renounceable partially underwritten one-for-one rights issue. The issue is comprised of two free detachable warrants for every five rights shares subscribed to raise up to S$347.4 million. Partners Tan Tze Gay, Sharon Wee and Wong Sook Ping led the advisory team on this transaction.
Allen & Gledhill LLP has advised Chartered Semiconductor Manufacturing Ltd and the underwriters, Singapore Technologies Semiconductors Pte Ltd, in a US$311.2 million rights issue. The issue involves a 27-for-10 renounceable fully underwritten rights offering of new ordinary shares. Lead advisors for Chartered on the transaction were partners Tan Tze Gay and Prawiro Widjaja, with partners Lim Mei and Lee Kee Yeng advising the underwriters.
Allen & Gledhill LLP has advised Oversea-Chinese Banking Corp Ltd in its offer to exchange its outstanding five per cent subordinated notes due 2011 for 5.60 per cent subordinated notes due 2019 callable with step-up in 2014. This is the first exchange offer of debt securities that qualify as regulatory capital, and the first exchange offer of debt securities cleared through The Central Depository (Pte) Ltd. Lead partners advising OCBC were Tan Tze Gay, with partner Cara Chan leading those advising the trustee, The Bank of New York Mellon.
Baker & McKenzie has advised Eastern Star Gas Ltd on its A$50 million equity placement. The capital raising comprised an underwritten placement to institutional and sophisticated investors in Australia and overseas and coincided with the company entering the ASX200. The team was led by Sydney capital markets partner David Holland, corporate partner and leader of the firm’s Australian resources practice David Ryan and US securities partner Andrew Reilly, also based in Sydney.
Hogan & Hartson represented nine Chinese battery companies as respondents in an appeal lodged by Energizer Holdings Inc and Eveready Battery Co to review a decision which invalidated Energizer’s patent on zero-mercury-added alkaline batteries. The Supreme Court decision marks the fifth and final effort by the company to resurrect the claim. The matter was led by partners Steven Hollman, Cate Stetson and Susan Cook in Washington DC, Los Angeles partner Wei-Ning Yang and Beijing partners Roy Zou and Jun Wei.
Khaitan & Co advised India Horizon Fund Ltd as Indian legal counsel to the fund in relation to all aspects of structuring the fund and all tax issues. India Horizon Fund Ltd is a broad based fund which will target mid to long term investments in mid cap companies whose shares are listed in India. Partner Murali Neelakantan led the advisory team.
Khaitan & Co advised India Horizon Fund Ltd, India Discovery Fund and Blue Ocean Trust in relation to their investment in Sterling Holiday Resorts (India) Ltd. The firm advised the investors in relation to the regulations applicable to the acquisition of a listed company, the establishment of India Horizon Fund Ltd and Blue Ocean Trust negotiation and documentation. Murali Neelakantan was lead partner on the transaction.
Khaitan & Co advised Oviesse in relation to a joint venture agreement with Brandhouse Retails Ltd to open 190 stores in India at an investment of US$32 million over a period of five years. Partner Bhumesh Verma led the transaction.
Makarim & Taira S has advised PT Central Java Power on the development of a further 2×660 MW coal fired power plant in Tanjung Jati B, Jepara, Indonesia (TJB 3&4). The US$2.3 billion project is financed by Japan Bank for International Corp and syndicates of financial institutions. The firm, which assisted in the initial project (TJB 1&2), has advised on various Indonesian legal aspects including regulatory/licensing, structure, land purchase and financing since 2006. The team was led by partner Rahayu N Hoed.
Sidley Austin represented Nine Dragons Paper (Holdings) Ltd in its tender offer for its US$300 million 7.875 percent senior notes due 2013, which achieved a 58 percent acceptance rate. In Hong Kong, partners Matthew Sheridan and Jason Kuo led the team advising on US law, and partner Constance Choy led the team advising on Hong Kong law.
White & Case LLP has advised Barry Callebaut Asia Pacific (Singapore) Pte Ltd on the sale of its 100 percent stake in its consumer company in Asia, Van Houten (Singapore) Pte Ltd to Hershey Singapore Pte Ltd. The deal grants Hershey an exclusive licence of the Van Houten brand name and related trademarks in Asia Pacific, the Middle East and Australia/New Zealand for its consumer products. Callebaut will retain ownership of the Van Houten brand. The advisory team was led by M&A partners Christian Jacobs in Hamburg and William Kirschner in Singapore.
WongPartnership LLP acted for Citibank Global Markets Singapore Pte Ltd and Macquarie Capital Securities (Singapore) Pte Ltd in an equity fund raising exercise for Ascendas Real Estate Investment Trust comprising a private placement and a preferential offering of an aggregate of approximately 352 million new units at an issue price of S$1.16 per new unit. Partners Raymond Tong and Lim Hon Yi led the transaction.
WongPartnership LLP acted as counsel to the syndicate of lenders in the grant of bank guarantee facilities to Hydrochem (S) Pte Ltd in connection with the construction of the 500,000 cubic metres per day reverse osmosis desalination plant in Algeria undertaken by the project company, Tahlyat Myah Magtaa SpA. Partners Susan Wong and Choo Ai Leen led the transaction.