Allen & Gledhill LLP is advising CDLHT MTN Pte Ltd (CDLHT), a wholly-owned subsidiary of DBS Trustee Limited (DBS) which is the trustee of CDL Hospitality Real Estate Investment Trust, in respect of its establishment of a S$1 billion (US$733m) multicurrency medium term note programme under which CDLHT may from time to time issue notes not exceeding S$1 billion (or the equivalent in other currencies). The notes issued under the programme will be unconditionally and irrevocably guaranteed by DBS. Partners Margaret Chin and Jerry Koh led the transaction. Allen & Gledhill LLP is also advising Tuas Power Generation Pte Ltd (Tuas Power) in respect of three gas sales agreements it has entered into with BG Singapore Gas Marketing Pte Ltd (BG) for the purchase of regasified liquefied natural gas, which to be delivered through the Singapore LNG Terminal over a period of up to 15 years. The total value of the three agreements is estimated to be S$5 billion (US$3.66b). Tuas Power is one of the first electricity generation companies in Singapore to enter into such agreements wtih BG for the purchase of regasified LNG. Partner Kelvin Wong led the transaction. ARA LAW has advised Prem Durai Exports India, the garment division of PGC Industries & Group (PGC Group), in respect of its acquisition of a controlling stake in Switcher Holding SA, a Switzerland-based holding company engaged in retail of apparel mainly in the European market under the brand name ‘Switcher’ ‘Respect’ ‘Whale’. The acquisition has provided PGC Group with a foothold in the retailing business to the European market. AZB & Partners has advised Matrix Partners India Investments...

Allen & Gledhill LLP has advised Oversea-Chinese Banking Corporation Limited (OCBC) and ING Bank NV Singapore Branch (ING) in respect of a US$150 million loan facility extended to Neptune Orient Lines Limited in a club deal, to be provided to it or APL (Bermuda) Ltd for the financing of two container vessels. The transaction was arranged by OCBC. Partner Gina Lee-Wan led the transaction. Allens Arthur Robinson has acted for Telecom New Zealand (Telecom NZ) in respect of the sale of its Australian subsidiary AAPT Limited’s (AAPT) consumer division, and the sale of its stake in iiNet Limited (iiNet). The transaction includes a binding agreement with iiNet valued at A$60 million (US$55m), under which AAPT will sell its consumer division to iiNet, whilst in an additional transaction, Telecom NZ has sold its 18.2 percent stake in iiNet to institutional and sophisticated investors for approximately A$70 million (US$64m). Partner Ian McGill led the transaction. Middletons acted for iiNet. Allens Arthur Robinson has also acted for Rio Tinto in respect of its agreement with Chalco, a subsidiary of Rio Tinto’s largest shareholder, Chinalco, in relation to the Simandou iron ore project joint venture. The JV agreement will cover the development and operation of the Simandou iron ore project in Guinea, including the planning, construction and management of the mine and associated rail and port infrastructure. Chalco will earn an effective 44.6 percent interest in the project, which is considered to be perhaps the best undeveloped iron ore prospect in the world, by sole funding expenditure of US$1.35 billion. Partner Scott Langford led the transaction, whilst Linklaters acted as UK and US...

Allen & Gledhill LLP has advised a consortium led by Perennial Real Estate in respect of its purchase from City Developments Limited group of companies of 283 retail units and four office suites at the 99-year leasehold site in Chinatown Point. Partners Margaret Soh and Eudora Tan led the transaction, which was valued at approximately S$250 million (US$183m). Allen & Gledhill LLP is also acting as Singapore counsel to The Public Utilities Board (PUB) in respect of its issue of S$400 million (US$293m) 3.012 percent bonds due 2022, which are listed on the SGX. The firm’s advisory team is being led by partner Margaret Chin. The firm is also advising DBS Bank Ltd acted as the lead manager and paying agent for the issue, and DBS Trustee Limited as the trustee, led by partner Au Huey Ling. Ashurst is advising Religare Capital Markets Limited (RCML), the investment banking and institutional securities arm of global financial services group Religare Enterprises Limited, in respect of its acquisition of Central Joint Enterprises Limited (CJE). CJE, which trades as Aviate Global (Asia), is a Hong Kong-headquartered Asia equities trading franchise. Conditional upon regulatory clearances in Hong Kong and Singapore, the acquisition represents a key part of RCML’s strategy to develop a full service equities and investment banking business in the region. The team advising RCML is being led by Hong Kong corporate partner Robert Ogilvy Watson, whilst a team from Arfat Selvam Alliance LLC, led by partner Krishna Ramachandra, is advising on Singapore regulatory clearances. Ashurst has acted as international counsel to Korea Housing Finance Corporation (KHFC), a Korean state-owned entity responsible for...

Allen & Gledhill LLP has advised Standard Chartered Bank (SCB) in respect of its acquisition from General Electric Capital Corporation (GECC) of all the shares in GE Commercial Financing (Singapore) Ltd and certain assets of GE Capital Services Pte Ltd. The value of the total assets acquired from GECC is approximately S$183 million (US$133m). Partners Prawiro Widjaja, Tham Kok Leong, Tang Siau Yan and Christopher Ong led the firm’s advisory team. Allen & Gledhill LLP has also advised Singapore Airlines Limited in respect of its issue of S$500 million (US$363m) fixed rate notes due 2020 under its S$1 billion (US$727m) multi-currency medium term note programme. The joint lead managers are Australia and New Zealand Banking Group Limited, DBS Bank Ltd, Oversea-Chinese Banking Corporation Limited and United Overseas Bank Limited. Partner Margaret Chin led the transaction, whilst partner Au Huey Ling advises the joint lead managers. Allens Arthur Robinson is acting for Riversdale Mining Limited (Riversdale) in respect of a US$337 million capital raising. The proceeds will facilitate the accelerated development of stages two and three of the premium coking and thermal coal Benga Coal Project, based in the Tete Province in Mozambique. The transaction comprises a US$102 million fully underwritten institutional placement and a 1-for-8 fully underwritten accelerated non-renounceable pro-rata entitlement offer to all eligible shareholders. The entitlement offer involves an institutional component of approximately US$165 million and a retail component of approximately US$70 million. Partner and co-head of equity capital markets Stuart McCulloch acted on the matter. Blake Dawson acted for the underwriters. Appleby has acted as the Cayman Islands counsel for Manta Holdings Company Limited (Manta) in...

Allen & Gledhill LLP is advising Keppel Infrastructure Fund Management Pte Ltd (as the trustee-manager of KGT), Keppel Integrated Engineering Limited (as the sponsor of KGT) and Keppel Corporation Limited (KCL) in respect of the distribution, by way of dividend in specie, of KCL’s units in K-Green Trust (KGT) which have been listed on the SGX-ST. KGT, which aims to invest in “green” infrastructure assets in Singapore and globally with a focus on Asia, Europe and the Middle East, is the first infrastructure business trust to be listed on the SGX-ST by way of introduction. Partners Prawiro Widjaja and Bin Wern Sern led the firm’s advisory team. Appleby has acted as Cayman Islands counsel for Tian Shan Development (Holdings) Limited (Tian Shan) in respect of its listing on the HKSE on 15 July 2010. Proceeds from the offer, estimated to be around HK$377 million (US$48.5m), will be used to fund various property projects in the PRC. Tian Shan, a property developer with headquarters in Shijiazhuang, Hebei, China, focuses on the development of quality residential properties with modern design, scenic environment and landscape. Hong Kong corporate partner Judy Lee led the team, whilst Sidley Austin advised Tian Shan as to Hong Kong law. Squire, Sanders & Dempsey advised the underwriters and China Everbright Capital Limited (as the sponsor) as to Hong Kong law. AZB & Partners has advised Deutsche Equities India Private Limited and Citigroup Global Markets India Private Limited as the brokers in respect of the sale of an aggregate of 16.75 million shares of HCL Technologies Limited, held by HCL Corporation Limited, to various purchasers. The transaction was...