Allen & Gledhill LLP has acted as Singapore law counsel to DBS Bank Ltd in respect of its issue of S$1.7 billion (US$1.3b) 4.7 per cent, non-cumulative, non-convertible, non-voting Class N preference shares callable in 2020. The sole lead manager and bookrunner was DBS Bank Ltd whilst the co-managers were Deutsche Bank AG Singapore Branch, Goldman Sachs (Singapore) Pte and The Royal Bank of Scotland plc. Partners Prawiro Widjaja and Glenn Foo led the transaction. Allen & Gledhill LLP has also acted as Singapore law counsel to DBS Bank Ltd in respect of its issue of S$800 million (US$611.8m) 4.7 per cent non-cumulative non-convertible non-voting Class N preference shares callable in 2020. The sole lead manager and bookrunner was DBS Bank Ltd whilst the co-managers were JP Morgan (SEA) Limited and Morgan Stanley Asia (Singapore) Pte. The public offer to the retail public, the placement to institutional and other investors and the reserve offer to employees accounted for S$550 million (US$420.6m), S$205 million (US$156.8m) and S$45 million (US$34.4m), respectively. Partners Prawiro Widjaja, Glenn Foo and Sharon Wee led the transaction. Allens Arthur Robinson has advised the Queensland Government in respect of the A$6.7 billion (US$6.6b) IPO of QR National, Australia’s largest rail freight operator and the world’s largest rail transporter of coal from mines to ports for export markets. The IPO is the largest in Australia in a decade and the largest new Australian stock market listing since the privatisation of Telstra Corporation. Partners John Greig and Erin Feros led the advisory team. Allens Arthur Robinson has also advised Tomago Aluminium, producer of about 25 per cent of Australia’s...

Allen & Gledhill LLP has advised Noble Group Limited in respect of its issuance of US$350 million in principal amount of 8.5 percent perpetual capital securities, which were fully placed to institutional and accredited investors (or their equivalent in jurisdictions outside Singapore) and admitted to the official list of the SGX-ST. Partner Christopher Ong led the transaction. Allen & Gledhill LLP has also advised Overseas Union Enterprise Limited (OUE), as borrower, in respect of its facility agreement on 27 September 2010, under which a S$750 million (US$575m) secured term loan was advanced to it by Standard Chartered Bank (SCB), as original lender. Under the terms of the agreement, SCB had an option to convert up to S$300 million (US$230m) of the loan into secured fixed rate bonds, which it exercised on 19 October 2010. Accordingly, S$300 million in principal amount of secured fixed rate bonds due 2013 were issued on 20 October 2010. The bonds are listed on the SGX ST. Partners Margaret Chin, Kok Chee Wai and Ellis Tang led the transaction. In addition, Allen & Gledhill LLP has advised Sabana Real Estate Investment Management Pte Ltd (Sabana REIM), as manager of Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (Sabana REIT), in respect of the IPO of Sabana REIT. The offering, for which the Preliminary Prospectus was lodged with the Monetary Authority of Singapore (MAS) on 9 November 2010 – is expected to raise gross proceeds of between S$632.8 million (US$486m) and S$691.6 million (US$531m. MAS has granted Sabana REIM a capital markets services licence for its REIT management business. Partners Jerry Koh, Foong Yuen Ping, Penny...

Allens Arthur Robinson has advised Hillgrove Resources Limited (Hillgrove), owner of South Australia’s Kanmantoo copper and gold mine, in respect of the critical finalisation of an investment funding package to secure project finance for the Kanmantoo Copper/Gold Project. The transaction includes a A$30 million (US$30m) project loan and A$20 million (US$20m) in bonding and guarantee facilities. Hillgrove will also seek associated commodity hedging facilities for the project and a fully underwritten A$65 million (US$65.3m) institutional placement, including a conditional placement that is subject to shareholder approval. Partner Andrew Finch led the firm’s advisory team. Mallesons Stephen Jaques acted for the underwriters whilst Freehills acted for the lending banks. Allen & Gledhill LLP is advising K-REIT Asia Management Limited, as manager of K-REIT Asia (K-REIT Asia), in respect of K-REIT Asia’s proposal to acquire a one-third interest in Marina Bay Financial Centre Towers 1 & 2 and Marina Bay Link Mall, valued at approximately S$1.4 billion (US$1m), and divest Keppel Towers and GE Tower, which is valued at S$573 million (US$446m). Partners Jerry Koh, Margaret Soh, Foong Yuen Ping and Lim Pek Bur are leading the transaction. Allen & Gledhill LLP is also acting as Singapore counsel to Aker Solutions AS (AKSO) in respect of the acquisition by Ezra Holdings Limited of all the shares in Aker Marine Contractors AS from AKSO and 50 percent of the shares in AMC Connector AS from Aker Oilfield Services AS, a wholly owned subsidiary of AKSO. The aggregate purchase consideration for the acquisitions is up to US$325 million. Partner Christopher Ong is leading the transaction. Allen & Overy has advised in respect of...

Allen & Gledhill LLP has advised Mapletree Industrial Trust Management Ltd (MITM), as manager of Mapletree Industrial Trust (MIT), and Mapletree Investments Pte Ltd (MIPL), as sponsor, in respect of the IPO of MIT shares to raise gross proceeds of S$1.19 billion (US$911m), a figure which includes proceeds from the cornerstone and MIPL subscriptions and the over-allotment option which has been fully exercised. MITM is a wholly-owned subsidiary of MIPL, which is in turn an indirect wholly-owned subsidiary of Temasek Holdings (Private) Limited. Meanwhile, Shook Lin & Bok LLP has acted for the arrangers and facility agent in respect of the S$837 million (US$640.6m) unsecured floating rate term loan facility granted to MIT to partially refinance existing bank loans in relation to the October IPO, which is Singapore’s largest REIT IPO to date and second largest IPO this year. Partners Liew Kai Zee and Stanley Lim acted on the matter, whilst partners Jerry Koh, Margaret Soh and Ho Kin San led the team from Allen & Gledhill. Allen & Gledhill LLP has also advised Genting Singapore PLC in respect of its divestment of its casino operations in the United Kingdom to Genting Worldwide (UK) Limited (GWUL), an indirect wholly-owned subsidiary of Genting Malaysia Berhad. The divestment took place through the sale of four of Genting Singapore’s wholly-owned subsidiaries to GWUL, for a total cash consideration of £351.5 million (US$555m). Partners Lucien Wong, Christine Chan, Christopher Koh and Lim Pek Bur led the transaction. Allen & Overy has acted as US counsel to a syndicate of underwriters – consisting of Citigroup and JP Morgan as joint global coordinators and underwriters,...

Ali Budiardjo, Nugroho, Reksodiputro has assisted KfW of Frankfurt and UniCredit Bank AG (formerly known as Bayerische Hypo-und Vereinsbank Aktiengesellschaft) of Munich in respect of their combined €38.8 million (US$53.5m) loan granted to PT Krakatau Steel (Persero), a soon-to-be-listed Indonesian Government-owned steel maker. Theodoor Bakker, Emir Nurmansyah and Luky I Walalangi led the transaction. Allen & Gledhill LLP has advised Hony Capital in respect of its agreement to purchase, through its wholly-owned special purpose vehicle, Autumn Eagle Limited, more than 319.3 million ordinary shares representing approximately 29.47 percent of the issued share capital of Biosensors International Group Ltd. The deal is valued at approximately S$284 million (US$218.3m). Partners Lim Mei and Christopher Koh led the transaction. Allen & Gledhill LLP is also advising Nanyang Technological University (NTU) in respect of its agreement to set up a new medical school with London’s Imperial College, which is one of the top three medical schools in Britain and among the world’s top five universities. The new medical school will produce doctors trained to tap cutting-edge technology to treat patients, and be at the forefront of innovating medical devices and improving health care. The collaboration between NTU and Imperial College will be for an initial 18 years. The school will be governed by a board with representatives from the two universities and other stakeholders, and the National Healthcare Group will be the school’s primary clinical training partner. The transaction is being led by partner Tham Kok Leong. Allen & Overy has advised Japan Bank for International Cooperation and the mandated lead arrangers – comprising The Bank of Tokyo-Mitsubishi UFJ Ltd, Mizuho Corporate Bank...