Allen & Gledhill has advised DBS Bank and United Overseas Bank on a S$461.5 million (US$340m) term loan facility to 77R Investments, in connection with Gaw Capital’s acquisition of 77R Investments’ holding company. United Overseas Bank acted as facility agent. The facility was secured, among others, by a mortgage over the property known as “Robinson 77” at 77 Robinson Road, Singapore. Partner Kok Chee Wai led the firm’s team in the transaction.
AZB & Partners is advising GRUH Finance and its promoter HDFC on the merger, through a scheme of amalgamation, of GRUH with Bandhan Bank. Partners Samir Gandhi and Hemangini Dadwal are leading the firm’s team in the transaction, which was valued at Rs208 billion (US$3b) and is yet to be completed.
Bird & Bird ATMD has acted for South Korean steel manufacturer Daehan Steel on its S$26.65 million (US$19.6m) acquisition from Malaysia-listed Lion Industries of a 50 percent stake in Singapore-based Angkasa Amsteel, a company involved in steel trading and fabrication and the trading of other building materials. Partner Marcus Chow led the firm’s team in the transaction.
Maples and Calder (Hong Kong) has also acted as BVI counsel to Joy Treasure Assets Holdings on its issue of US$400 million 3.875 percent bonds due 2024 and US$300 million 4.5 percent bonds due 2029, guaranteed by China Orient Asset Management (International) Holding. The bonds are listed in Hong Kong. Partner Lorraine Pao led the firm’s team in the transaction, which closed on March 20, 2019. Linklaters acted as Hong Kong counsel to the issuer and the guarantor. Davis Polk & Wardwell acted as Hong Kong counsel to the joint lead managers.
