Allen & Gledhill LLP has advised Temasek Financial (I) Limited in respect of the company having completed, under its US$5 billion Guaranteed Global Medium Term Note Program (the program), the offerings of US$500 million 5.375 percent Guaranteed Debentures due 2039, S$300 million 4.0 percent Guaranteed Notes due 2029, and S$300 million 4.2 percent Guaranteed Notes due 2039. The firm also advised Temasek Holdings (Private) Limited, which is rated AAA by Standard & Poor’s and Aaa by Moody’s Investors Service, in respect of it having unconditionally and irrevocably guaranteed the notes. Partners Yeo Wico, Andrew Chan, Sunit Chhabra and Glenn Foo advised. Allen & Gledhill LLP has also advised Queensley Holdings Limited (QHL) in respect of its issuance of S$320 million secured fixed rate senior notes due 2012, S$151 million secured fixed rate junior notes due 2012, and S$78 million redeemable preference shares (collectively, the securities) in the securitisation of the property known as “Capital Square”. The senior and junior notes are secured by, inter alia, a mortgage over Capital Square, and the proceeds from the issuance have been used to redeem existing bonds issued by QHL. The senior notes are the largest Singapore dollar corporate bond issue in a single tranche in Singapore this year. Partner Jerry Koh advised QHL and Capital Square Pte Ltd, which is the owner of Capital Square. Partners Margaret Chin, Margaret Soh and Magdalene Leong also advised Australia and New Zealand Banking Group Limited – as arranger and manager in respect of the issue – and DBS Trustee Limited, as trustee for the holders of the senior and junior notes. Amarchand & Mangaldas &...

Allen & Gledhill LLP has advised MacarthurCook Industrial REIT (MI-REIT), and its manager MacarthurCook Investment Managers (Asia) Limited (MacarthurCook), in connection with a recent recapitalisation and refinancing exercise for MI-REIT as a result of the following transactions, for which approval from MI-REIT unitholders was obtained: a placement of 78.6 million new units of MI-REIT to AMP Capital Holdings Limited, raising gross proceeds of S$22 million (approx US$15.8m); a placement of 142.9 million new units to certain cornerstone investors, including the AIMS Financial Group (the current sponsor of MI-REIT), raising gross proceeds of S$40 million (approx US$28.7m); a fully-underwritten rights issue of 975.6 million new units, which will raise gross proceeds of S$155.1 million (approx US$111.4m); and the acquisition by MI-REIT of four industrial assets in Singapore from AMP Capital Business Space REIT, for a total purchase consideration of S$68.6 million (approx US$49.3m). The transactions are intended to position AMP Capital as a joint sponsor of MI-REIT alongside the AIMS Financial Group. Advising MacarthurCook and MI-REIT in relation to its recapitalisation and refinancing exercise are partners Jerry Koh, Foong Yuen Ping and Chua Bor Jern. Advising MI-REIT on the acquisition of four industrial properties located in Singapore and on its property-related issues is partner Chew Mei Choo. Other partners who advised MacarthurCook on various specialist legal issues include Prawiro Widjaja, Christopher Ong, Andrew Yeo, Edwin Tong, Andy Yeo, William Ong, Christine Chan and Jean Wan. Allen & Gledhill LLP has also advised MI-REIT in relation to its signing of a S$175 million (approx US$125.8m) term loan facility with Standard Chartered Bank, Commonwealth Bank of Australia and National Australia Bank Limited,...

Allen & Gledhill LLP is advising ARA Trust Management (Suntec) Limited, as manager of Suntec Real Estate Investment Trust (Suntec REIT), in relation to Suntec REIT’s private placement of 128.5 million new units to raise gross proceeds of approximately S$152.9 million (approx US$109m). The private placement, undertaken to reduce Suntec REIT’s existing indebtedness, was priced at the maximum issue price of S$1.19 per new unit and was more than five times over-subscribed. Partners Jerry Koh and Chua Bor Jern led the firm’s advisory team. Allen & Gledhill LLP is also acting as Singapore counsel to Asia Pacific Breweries Limited (APBL) in relation to its entry into share purchase agreements with Heineken International BV (Heineken) regarding the proposed acquisition of Heineken’s entities in Indonesia and New Caledonia. The agreements, which attract an aggregate consideration of approximately S$536.3 million (approx US$382.6m) provide for: (a) the disposal by APBL of the entire issued share capital of Asia Pacific Breweries (Aurangabad) Private Limited and Asia Pacific Breweries-Pearl Private Limited to Heineken; and (b) the acquisition by APBL of an approximate 87.3 percent interest in Grande Brasserie de Nouvelle Caledonie SA, and the acquisition of an approximate 68.5 percent interest in PT Multi Bintang Indonesia Tbk and one share of PT Multi Bintang Indonesia Niaga. Upon completion of the latter acquisition, APBL intends to acquire the worldwide ownership and use of the BINTANG marks. Partners Steven Lo, Andrew M. Lim, Stanley Lai and Christopher Koh are advising. Allens Arthur Robinson is advising Lend Lease Group (LLG), one of the world’s leading fully integrated property solutions providers, on its A$192 million (approx US$171m) acquisition of...

Allen & Gledhill LLP has advised Merrill Lynch (Singapore) Pte Ltd (ML), as the sole bookrunner,...

Ali Budiardjo, Nugroho, Reksodiputro (ABNR) has represented the International Finance Corporation (IFC), a member of the World Bank Group, in respect of financing for Indonesia’s PT Bank Tabungan Pensiunan Nasional Tbk. The financing, valued up to the Rupiah equivalent of US$70 million, will be used to help deliver essential financial services to more than one million lower-income people and smaller businesses. Theodoor Bakker and Emir Nurmansyah led the team in advising IFC. Ali Budiardjo, Nugroho, Reksodiputro (ABNR) has also represented the International Finance Corporation (IFC) in respect of a secured loan in the amount of US$140 million granted to PT South Pacific Viscose, part of the Lenzing Group from Austria. The loan, IFC’s fourth to this Indonesian company, is part of a capital investment program. Theodoor Bakker and Emir Nurmansyah again led the firm’s advisory team. Allen & Gledhill LLP is advising Oversea-Chinese Banking Corporation Limited (OCBC) in connection with its issuance of US$500 million 4.25 percent subordinated notes due 2019, callable with step-up in 2014 pursuant to its S$4 billion (approx US$2.89b) Programme for Issuance of Debt Instruments. The issue was a benchmark international offering to Asian and European-based institutional and sophisticated investors, and the notes are expected to qualify as lower tier 2 capital. Partner Au Huey Ling is leading the firm’s advisory team. Allen & Gledhill LLP has also advised various parties in connection with CapitaLand Limited’s (CapitaLand) recently completed initial public offering of 30 percent of its shareholding interest in its retail arm, CapitaMalls Asia Limited (CMA), in conjunction with the listing of CMA on the Singapore Stock Exchange. The firm advised JP Morgan (SEA)...