Allen & Gledhill LLP has advised Hoya Corporation (Hoya) and Hoya Magnetics Singapore Pte Ltd (HoMS) in respect of the proposed sale of their hard disk-use glass media manufacturing operations and related assets to a wholly owned subsidiary of Western Digital Corporation. The sale, for JPY22 billion (US$235 million) in an all-cash transaction, includes a Singapore-based plant operated by HoMS and a research and development facility in Yamanashi Prefecture, Japan. Partner Prawiro Widjaja led the firm’s advisory team. Allen & Gledhill LLP has also advised Raffles City China Fund Limited (RCCF) – a private equity property fund established by CapitaLand Limited to invest in the “Raffles City” brand of large scale integrated developments located in various cities of China – and its fund manager RCCF Management Pte Ltd in respect of RCCF increasing its fund size from US$1 billion to US$1.18 billion at a second closing, with the option to further increase up to US$1.5 billion at one or more subsequent closings by the end of the term. Furthermore, in line with CapitaLand’s strategy to rationalise the holding of its “Raffles City” brand integrated developments in China through RCCF, CapitaLand China Development Fund Pte Ltd and CapitaLand China CCDF (Cayman) Holdings Co Ltd agreed to transfer Raffles City Ningbo to RCCF for approximately US$125 million, subject to post-completion adjustments. Partner Jerry Koh led the firm’s advisory team. Allens Arthur Robinson is acting for Newcrest Mining Limited (Newcrest), one of the leading gold companies in the world, on its proposed merger with Lihir Gold Limited (Lihir), a leading global gold company with operations in Papua New Guinea, Australia and West...

Allen & Gledhill LLP has advised Cache Logistics Trust (CLT) in respect of the completion of its IPO, which raised gross proceeds of S$477.8 million (US$326m) to partly fund its acquisition of six logistics assets from CWT Limited and C&P Holdings Pte Ltd and their respective subsidiaries. The transaction is the first IPO in Singapore by a REIT since 2008, and the first IPO by an REIT following the implementation of the licensing regime for managers of REITs. In connection with the IPO and listing of CLT’s units on the Main Board of Singapore Exchange Securities Trading Limited, CLT – acting through its trustee HSBC Institutional Trust Services (Singapore) – has obtained a S$225.3 million (US$164m) loan facility with DBS Bank Ltd, Macquarie (Asia) Pte Ltd and Standard Chartered Bank to part-finance the acquisition of the properties. The firm’s advisory team included partners Jerry Koh, Foong Yuen Ping, Ho Kin San, Ernest Teo and Jafe Ng. Allen & Gledhill LLP has also advised The Bank of Tokyo-Mitsubishi UFJ Ltd (BTMU) in respect of the US$150 million loan facility which it provided to one of its subsidiaries for the financing of two container vessels. The recipient of BTMU’s loan is one of the largest shipping and transportation companies listed on the Singapore Stock Exchange. Partners Gina Lee-Wan and Soh Yin Chuin led the firm’s advisory team. Clayton Utz has advised Southern Cross Equities Limited as sole lead manager in respect of the A$76 million (US$70.2m) IPO of Mungana Goldmines Limited (Mungana). The transaction involves the spin-off by diversified Australian resources group Kagara Limited of its North Queensland gold assets to...

Allen & Gledhill LLP has advised SingTel Group Treasury Pte Ltd in respect of its offering of S$600 million (US$437.2m) 3.4875 percent guaranteed notes due 2020, which were issued on 8 April 2010. The notes are unconditionally and irrevocably guaranteed by Singapore Telecommunications Limited and are listed on the Singapore Exchange Securities Trading Limited. DBS Bank Ltd, The Hongkong and Shanghai Banking Corporation Limited and Oversea-Chinese Banking Corporation Limited acted as the joint lead managers for the issue. DBS Trustee Limited was the trustee whilst DBS Bank Ltd was also the paying agent and the registrar. Allens Arthur Robinson has advised The GPT Group (GPT), one of Australia’s largest diversified listed property groups, in respect of its sale of Homemaker City Bankstown to Baycrown Pty Limited, a private Gold Coast property investment and development company, for A$25.2 million (US$23.38m). The transaction, which reflects GPT’s strategy of selling down non-core assets, will allow GPT to focus on the active ownership of its ‘blue ribbon’ retail, office and industrial/business park portfolios. Partner Nicholas Cowie led the firm’s advisory team. Appleby has acted as Bermuda counsel for Man Wah Holdings Limited (Man Wah) in respect of its listing on the Main Board of the Hong Kong Stock Exchange on 9 April 2010. The proceeds from the global offering amounted to HK$1.64 billion (US$211m). Man Wah is the eighth largest player in the recliner sofa market in the United States and also sells recliner sofas in over 50 countries. The proceeds from the offering will be used for the expansion of its retail presence in the PRC and establishment of a production and/or...

Allens Arthur Robinson has acted for LaSalle Investment Management (LaSalle), one of the world’s leading real estate investment managers, in respect of its investment of a 25 percent interest in the proposed 42-storey premium-grade office tower development in Sydney. The project, which is to be developed and built by Grocon Developments, will be 50 percent owned by a combined LaSalle/Grocon entity whilst the remaining 50 percent share will be owned by GPT Wholesale Office Fund. The transaction comes at a time when the major players in the real estate industry are again starting to invest and develop in the Sydney office market following the global financial crisis. The firm’s advisory team was led by real estate partner Mark Stubbings. Allens Arthur Robinson has also advised the consortium of financiers on the development, construction and operation of the Collgar Wind Farm in Western Australia. The consortium was made up of ANZ, Commonwealth Bank of Australia, National Australia Bank, WestLB, Westpac and Danish export credit agency EKF. The 206MW wind farm will provide clean, renewable electricity to the Western Australian power grid under a 15-year power and green credits purchase agreement with Synergy. Partner Phillip Cornwell led the transaction. Freehills acted for the sponsor and the borrower whilst Minter Ellison acted for equity investors UBS and REST. Finally, Allens Arthur Robinson has acted for Origin Energy Limited (Origin), one of Australia’s leading integrated energy companies, on the execution of new bank debt facilities valued at A$2.6 billion (US$2.4b). The new facilities will be used to refinance existing facilities that mature in financial years 2010 and 2011. Partner Alan Maxton led the...

Allen & Gledhill LLP has advised CIMB Bank Berhad (CIMB) in respect of the issuance by Citydev Nahdah Pte Ltd of S$50 million 3.565 per cent Trust Certificates (the Series 002 Certificates) under its S$1 billion Islamic Trust Certificate Programme. The issue of the Series 002 Certificates, associated with the Shariah principle of Ijarah, is lead-managed by CIMB. The transaction marks the second issue of sukuk pursuant to the Islamic Trust Certificate Programme, which was established in November 2008. Partners Yeo Wico, Magdalene Leong, Chew Mei Choo and Serena Choo advised. Allen & Gledhill LLP has also advised Singapore Post Limited (SingPost) in relation to the company having priced its S$200 million 3.50 percent notes due 2020, which are intended to be issued on 30 March 2010. The notes are to be listed on the Singapore Exchange Securities Trading Limited. DBS Bank Ltd (DBS) and UBS AG, Singapore branch are the joint lead managers for the issue. DBS is also the paying agent for the issue, with DBS Trustee Limited is the trustee. Partner Margaret Chin led the firm’s advisory team in advising SingPost, whilst partner Au Huey Ling advised the joint lead managers, the trustee and the paying agent. In addition, Allen & Gledhill LLP has advised The Media Development Authority of Singapore (MDA) in relation to its joint establishment with Hong Kong-based Salon Films Group – whose Hollywood credits include ‘Crouching Tiger, Hidden Dragon’ – of a S$100 million (approx US$71.5m) multi-tranche Integrated Media Fund. Drawdowns on the fund will be by qualifying green-lighted projects aimed at developing cross-platform Asian content for broadcast and mobile. Partner Daren...