Allen & Gledhill has advised the Housing and Development Board on the issue of S$600 million (US$444.6m) principal amount of fixed rate notes due 2029, as Series 084 under its S$32 billion (US$23.7b) 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 Apax Partners on the acquisition by Quinag Bidco, an Apax Partners entity, of over 40 percent stake of Fractal Analytics from TA Associates, AIMIA Proprietary Loyalty Singapore, Khazanah Nasional and others. Post the proposed transaction, Apax will hold more than 40 percent of the voting share capital of Fractal Analytics. Partners Ashwath Rau and Divya Mundra led the firm’s team in the transaction, which was valued at Rs14.1 billion (US$198m) and was completed on February 15, 2019.
AZB & Partners is also advising Muthoot Finance on its public issue of secured non-convertible debentures aggregating to Rs40 billion (US$562m). Partner Srinath Dasari is leading the firm’s team in the transaction, which is yet to be completed.
Baker McKenzie has advised Taubman Centres, an S&P MidCap 400 real estate investment trust that invests in shopping centres, on its sale of 50 percent of Taubman Asia’s interests in three Asia-based shopping centres to funds managed by The Blackstone Group. Taubman will remain the partner responsible for the joint management of the three shopping centres located in Hanam, South Korea; Xi’an, China; and Zhengzhou, China. Jason Ng, partner and co-chair of the global investment funds group in Hong Kong, supported by partners Addison Braendel and Alexander Gong (partner at Baker McKenzie FenXun joint operation office in Shanghai), led the firm’s team in the transaction, which is valued at US$480 million.
Conyers Dill & Pearman has advised Nuance Communications on the US$400 million sale of its document imaging division to Kofax. Nuance is a multinational software technology corporation listed on Nasdaq and a leading innovator in conversational artificial intelligence. Bermuda director David Cooke, working alongside Baker & McKenzie, led the firm’s team in the transaction, which closed on February 1, 2019.
Conyers Dill & Pearman has also acted as Bermuda and BVI counsel to Road King Infrastructure on its US$400 million 7.875 percent guaranteed senior notes due 2023 by its subsidiary, RKPF Overseas 2019 (A). Hong Kong-listed Road King Infrastructure invests, develops, operates and manages toll roads and property projects in China. Hong Kong partner Christopher Bickley, working alongside Reed Smith Richards Butler, led the firm’s team in the transaction.
Davis Polk has advised the underwriters on a SEC-registered Schedule B debt offering by The Korea Development Bank of US$500 million aggregate principal amount of three percent notes due 2022 and US$500 million aggregate principal amount of its 3.25 percent notes due 2024. Hong Kong partner James Lin led the firm’s team in the transaction.
Davis Polk has also advised the initial purchasers on a US$225 million Regulation S only high-yield offering by China Aoyuan Group of its 7.95 percent senior notes due 2023. China Aoyuan is a property developer in Guangdong, China and has been developing residential projects for more than 15 years. Hong Kong partner Gerhard Radtke led the firm’s team in the transaction.
Maples and Calder (Hong Kong) has acted as Cayman Islands counsel to Mid Labs on the merger of Sea Lion Holdings, a wholly-owned subsidiary of Hoya Corporation. Mid Labs is a California-based company focused on the research, innovation, development, engineering and manufacturing of ophthalmic medical surgical devices used to prevent blindness caused by certain retinal diseases and traumatic injuries. Partner Everton Robertson led the firm’s team in the transaction, while Cooley acted as US counsel.
Maples and Calder (Hong Kong) has also acted as BVI counsel to Sino-Ocean Land Treasure IV on its issuance of US$500 million 5.25 percent guaranteed notes due 2022. The notes are listed in Hong Kong and guaranteed by Sino-Ocean Group Holding, a leading large-scale national property developer in China. Partner Lorraine Pao led the firm’s team in the transaction, while Paul Hastings acted as English and HK counsel. Linklaters acted as English counsel to the joint lead managers, including HSBC, UBS, Goldman Sachs (Asia) and China CITIC Bank International.
WongPartnership has acted for Temasek Holdings on its investment in the series D equity financing round of Zilingo, an online fashion, beauty and lifestyle marketplace headquartered in Singapore. Partners Mark Choy, Kyle Lee and Kylie Peh led the firm’s team in the transaction.