Allen & Gledhill has acted as transaction counsel to a club of 15 Japanese banks, including the Development Bank of Japan, Mizuho Bank, and MUFG Bank, on the ¥30 billion (US$267.4m) term loan facilities to Olam Treasury, a wholly-owned subsidiary of Olam International. Development Bank of Japan, Mizuho Bank and MUFG Bank were appointed as mandated lead arrangers and book-runners. Mizuho Bank was appointed as facility agent. The proceeds of the facilities will be applied towards refinancing of existing loans of Olam and its subsidiaries, and for general corporate purposes. Partner Mark Hudspeth led the firm’s team in the transaction.

Allen & Gledhill has also advised Surbana Jurong on the establishment of a US$1 billion multicurrency debt issuance programme, as well as its issue of S$350 million (US$255m) 4.11 percent notes due 2025 under the programme. Partners Margaret Chin, Ong Kangxin and Sunit Chhabra led the firm’s team in the transaction.

AZB & Partners has advised Axis Bank on its issuance, through its Singapore Branch, Hong Kong Branch, Dubai International Financial Centre, GIFT City Branch or other foreign branch, of notes denominated in any currency for an aggregate value not exceeding US$5 billion or its equivalent in other currencies. Partners Shameek Chaudhuri and Varoon Chandra led the firm’s team in the transaction, which was completed on October 1, 2018.

AZB & Partners has also advised Global Logistic Properties on its acquisition of a stake in IndoSpace’s managed investment vehicles and in IndoSpace Core. Partner Ashwath Rau and Kashish Bhatia led the firm’s team in the transaction, which was valued at more than US$10 million and is yet to be completed.

Baker McKenzie has advised LGT Group Foundation on its cornerstone investment in China Renaissance Holdings, an investment bank dedicated to China’s new economy businesses. China Renaissance successfully went public in Hong Kong on September 27, 2018, raising US$347 million. As a cornerstone investor, LGT has acquired a US$25 million stake in the business. Other cornerstone investors include Alipay (Hong Kong) Holding, Snow Lake China Master Fund and Snow Lake China Master Long Fund. Baker McKenzie Wong & Leow Singapore principal Ai Ai Wong, supported by Hong Kong partners Dorothea Koo and Ivy Wong, led the firm’s team in the transaction.

Drew & Napier has acted as Singapore counsel to Haidilao International Holding on its global offering of approximately 424.5 million shares in Hong Kong. Haidilao is a global leading and fast-growing Chinese cuisine restaurant brand. The net proceeds from the global offering to be received by Haidilao are estimated to be approximately S$1.27 billion (US$924.7m), after deduction of the relevant expenses. Directors Petrus Huang and Wu Geng led the firm’s team in the transaction.

J Sagar Associates has advised Teleperformance SE on the India leg of the acquisition of the Intelenet group of companies from Blackstone. Teleperformance is the worldwide leader in outsourced omnichannel customer experience management, serving as a strategic partner to the world’s largest companies in a wide variety of industries. Intelenet, with offices across the Americas, Europe, Middle East, India and the Philippines, is a major global provider of high-end omnichannel customer experience management, back-office, human resources and financial and administration services in the banking, financial services and insurance sector, as well as the travel, transport and accommodation, e-commerce, e-services, and healthcare sectors. Blackstone is a leading global alternative asset manager. Partners Tony Verghese, Amitabh Kumar and Vaibhav Choukse led the firm’s team in the transaction, which was valued at approximately US$1 billion.

J Sagar Associates has also advised Origo Commodities (India) and its promoters on its Rs800 million (US$11m) round of equity funding from Caspian SME Impact Fund IV, Oikocredit Ecumenical Development Co-Operative Society and Stichting Hivos-Triodos Fonds. Origo provides post-harvest management services for agricultural commodities and end-to-end solutions for procurement, handling, preserving, storing and financing farm produce. Origo will utilise the funds to strengthen its financing and logistics solutions. Partners Probir Roy Chowdhury and Vishnu Nair led the firm’s team in the transaction.

King & Wood Mallesons has advised Prinx Chengshan (Cayman) Holding on its IPO of 135 million offer shares in Hong Kong. Prinx Chengshan was listed on October 9, 2018. Priced at HK$5.89 (US$0.75) per share, the net proceeds raised from the listing were approximately HK$795 million (US$101.4m), before the exercise of the over-allotment option. BOCI Asia was the sole sponsor, while Guotai Junan Securities (Hong Kong) was the sole global coordinator of the offering. Prinx Chengshan is a leading domestic tire manufacturer in the all steel radial tires replacement market for commercial vehicles, excluding industrial vehicles, in China. Hong Kong partners Candy Chan and Kanne Leung, Beijing partners Jin QingJun and Jia Diyan, and Shanghai partner Zhang Hengshun led the firm’s team in the transaction.

Maples and Calder has acted as Cayman Islands counsel to Baidu on the US$1.9 billion acquisition by TPG Capital, The Carlyle Group, Taikang Insurance Group and ABC International Holdings of a 58 percent stake in Du Xiaoman Financial from Baidu. Nasdaq-listed Baidu is the leading Chinese language internet search provider. Under the terms of the transaction, the buying consortium, led by TPG Capital and The Carlyle Group, agreed to acquire a majority stake in the financial service business, or Financial Services Group, from Baidu, and renamed the business as “Du Xiaoman”. EY acted as a financial adviser to Baidu. Partner Matt Roberts led the firm’s team in the transaction, while Skadden, Arps, Slate, Meagher & Flom acted as US counsel.

Maples and Calder (Hong Kong) has also acted as Cayman Islands and BVI counsel to CIFI Holdings (Group) on its issue of US$300 million 5.5 percent senior notes due 2022. CIFI Holdings is engaged in property development and property investment in China. Partner Lorraine Pao led the firm’s team in the transaction, while Sidley Austin acted as US and Hong Kong counsel. Davis Polk & Wardwell acted as US counsel to Credit Suisse, CEB International and Orient Securities (Hong Kong), as the joint lead managers.

Rajah & Tann Singapore has advised Japfa on a US$303 million syndicated acquisition financing, with Cooperative Rabobank Singapore Branch and DBS Bank as mandated lead arrangers and book-runners. The financing was for the acquisition of shares in Japfa’s subsidiaries. Partner Ng Sey Ming led the firm’s team in the transaction.

Rajah & Tann Singapore is also acting for Hong Leong Asia on its renounceable non-underwritten rights issue to raise gross proceeds of up to S$202.3 million (US$147.3m). Together with its subsidiaries, the company is the trade and industry arm of Singapore’s Hong Leong Group, and manufactures, distributes and sells diesel engines in China, as well as sells and supplies building materials in Singapore and Malaysia. Partner Cynthia Goh is leading the firm’s team in the transaction.

Shook Lin & Bok is acting for Perpetual (Asia), as trustee of Viva Industrial Real Estate Investment Trust, on the proposed merger of Viva Industrial Trust (VIT) and ESR Reit. The merger, which will be effected through an acquisition by ESR Reit of all the stapled securities of VIT, by way of a trust scheme of arrangement in accordance with the Singapore Code on Take-overs and Mergers, is for all the issued and paid-up stapled securities of VIT held by the stapled security holders of VIT, and the units in ESR Reit held by the unitholders of ESR Reit. The transaction, which amounts to approximately S$1.5 billion (US$1.1b), marks the first successful merger in Singapore of two Reits by way of scheme of arrangement. Partners Tan Woon Hum and Andrea Ng are leading the firm’s team on the transaction.

Sullivan & Cromwell (Hong Kong) has represented ENN Group International Investment (BVI) on its share transfer agreement with a wholly-owned subsidiary of Hony Capital (China) to acquire from Hony the entire issued share capital of an investment holding company, which holds 100 million ordinary shares of Santos (Australia), representing approximately 4.8 percent of total issued share capital of Santos, for a total consideration of approximately US$449 million. Hong Kong corporate partners Kay Ian Ng and Jamieson Logie led the firm’s team in the transaction, which was announced on September 19, 2018.

WongPartnership has acted for Temasek Holdings on the US$166 million Series D fundraising round for One Championship, a Singapore-based mixed martial arts promotion. Partners Mark Choy, Kyle Lee and Kylie Peh led the firm’s team in the transaction.

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