Allen & Gledhill has advised Medco Energi Internasional on the issue of US$650 million 6.375 percent senior notes due 2027. Partner Glenn Foo led the firm’s team in the transaction.
Allen & Gledhill has also advised City Developments on the issue of S$200 million (US$144.3m) 2.7 percent notes due 2025, under its S$5 billion (US$3.6b) multicurrency medium term note programme. Partners Margaret Chin, Fabian Tan and Sunit Chhabra led the firm’s team in the transaction.
AZB & Partners has advised Millennia Realtors on the acquisition by Mitsui Fudosan (Asia) of a 50 percent stake in Akarshak Infrastructure. Partners Sai Krishna Bharathan and Vivek Bajaj led the firm’s team in the transaction, which was completed on January 28, 2020.
AZB & Partners has also advised Sagent Lending Technologies and Indecomm Global Services (India), portfolio companies of Warburg Pincus, on Indecomm’s acquisition of certain assets of ISG Novasoft Technologies, a subsidiary of Chambal Fertilizers and Chemicals, in India. Partners Anil Kasturi, Nandita Govind and Ashish Pareek led the firm’s team in the transaction, which was completed on January 30, 2020.
CNPLaw has advised a Singapore biotechnology company involved in cancer research on raising S$15 million (US$10.8m) from US and Japanese venture capital firms. This financing round represents the client’s series B funding and strategically positions the client for future market entry into the US. Partner Ken Chia and managing partner Lisa Theng led the firm’s team in the transaction.
Davis Polk has advised China ZhengTong Auto Services Holdings on its US$160 million Regulation S offering of 12 percent guaranteed senior notes due 2022. The notes were guaranteed by certain ZhengTong subsidiaries. Hong Kong-listed ZhengTong is a leading 4S dealership group in China, with a diversified brand portfolio covering 20 popular automobile brands, in particular luxury and ultra-luxury brands. It has a total of 141 automobile dealership stores across China. Corporate partners Gerhard Radtke and Yang Chu led the firm’s team in the transaction.
J Sagar Associates has advised Fleetx Technologies and its promoters on its Series A2 round of US$2.8 million led by Beenext Emerging Asia. Fleetx operates a fleet management and predictive analysis platform, and engages in providing fleet management solutions, including service, product, import, export and sales, in the fleet and logistics industry. Partner Archana Tewary led the firm’s team in the transaction.
J Sagar Associates has also advised Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden on its capital commitment of US$15 million in a structured equity scheme of BanyanTree India Growth Capital Fund, managed by BanyanTree Finance. BanyanTree India Growth Capital Fund is registered as a Category II AIF with the SEBI, under SEBI (Alternative Investment Funds) Regulations 2012. Partner Manav Raheja, supported by partner Dina Wadia, led the firm’s team in the transaction. The fund and BanyanTree Finance were represented by IC Universal Legal.
Maples and Calder has acted as Cayman Islands counsel to Phoenix Tree Holdings, a Cayman Islands company, on its IPO of 9.6 million American depositary shares, representing its Class A ordinary shares, and the listing of such ADSs in New York. Phoenix Tree Holdings is one of the largest co-living platforms in China. The offering, which closed on January 22, 2020, raised approximately US$130 million. Partner Matt Roberts led the firm’s team in the transaction, while Simpson Thacher & Bartlett acted as US counsel. Latham & Watkins acted as US counsel to Citigroup Global Markets, Credit Suisse Securities (USA) and JP Morgan Securities, as the representatives of the underwriters.
Maples and Calder has also acted as BVI counsel to Sure First on its issuance of US$150 million two percent secured guaranteed exchangeable bonds due 2025, unconditionally and irrevocably guaranteed by Weigao Holding. The bonds are listed in Singapore, and are exchangeable into the H shares of Rmb0.10 (US$0.014) each of Hong Kong-listed Shandong Weigao Group Medical Polymer Company. The issuance closed on January 16, 2020. Partner Matt Roberts also led the firm’s team in the transaction, while Simpson Thacher & Bartlett acted as Hong Kong counsel and Zhong Lun Law Firm acted as China counsel. Linklaters acted as Hong Kong counsel, while Haiwen & Partners acted as China counsel to Credit Suisse (Hong Kong), the sole book-runner.
Rajah & Tann Singapore, member firm of Rajah & Tann Asia, is advising Viking Offshore and Marine on its S$5 million (US$3.6m) placement of shares in connection with a restructuring proposal, which includes a debt write-off pursuant to a creditors’ scheme. Partners Danny Lim and Cynthia Wu are leading the firm’s team in the transaction.
Rajah & Tann Singapore, member firm of Rajah & Tann Asia, is also advising Darco Water Technologies on its S$6.54 million (US$4.7m) placement of shares. Partners Danny Lim and Cynthia Wu are also leading the firm’s team in the transaction.
S&R Associates has represented Everstone Group on a proposed investment of Rs14.5 billion (US$203.5m) by Brookfield Business Partners, together with its institutional partners, in IndoStar Capital Finance, an Indian listed non-banking finance company promoted by the Everstone Group. The transaction involves acquisition of 40 percent stake in Indostar, through a combination of subscription to securities and purchase of shares from the existing promoter and mandatory tender offer. Partners Sandip Bhagat and Rachael Israel, supported by competition practice head Simran Dhir, led the firm’s team in the transaction, which is subject to closing conditions, including approvals from regulatory authorities.
Thanathip & Partners is advising Principle Capital on the disposition by its subsidiary of the entire interest in Bangkok Management. Nitchaya Vaneesorn led the firm’s team in the transaction, which was valued at Bt1.3 billion (US$41.6m).
Thanathip & Partners is also advising Istithmar Hotels FZE and Istithmar Building FZE, subsidiaries of Dubai World group, on the dispositions of their entire interest in the companies operating W Hotel Koh Samui. Nitchaya Vaneesorn also led the firm’s team in the transaction.
WongPartnership is acting for Temasek Holdings on its joint venture with EQT Infrastructure IV fund in the establishment of O2 Power, a renewable energy platform in India, to develop utility-scale renewable projects worth US$500 million. Partners Low Kah Keong and Ye Zi led the firm’s team in the transaction.
WongPartnership has also acted for Northstar on its investment into Zenius Education with a Series A funding of US$20 million. Partner Kyle Lee led the firm’s team in the transaction.