Allen & Gledhill LLP has advised FCT MTN Pte Ltd (FCT) in respect of its inaugural issuance of S$75 million (approx US$51.7m) fixed rate notes due 2012 under its S$500 million multicurrency medium term note programme. The programme and the notes have received a BBB rating from Standard & Poor’s. HSBC Institutional Trust Services (Singapore) Limited, as trustee of Frasers Centrepoint Trust, has unconditionally and irrevocably guaranteed the payment obligations of FCT in respect of the Series 001 Notes, whilst DBS Bank Ltd and Oversea-Chinese Banking Corporation Limited have acted as joint lead managers for the issue. Partner Au Huey Ling led the firm’s advisory team. Allens Arthur Robinson is acting for the Victorian Government’s Department of Transport in respect of its worldwide tender for the operation of Melbourne’s train and tram networks, known as the Metropolitan Rail (Train and Tram) Franchising Project. The Victorian Government has announced that the MTM and KDR consortia had been chosen as the preferred tenderers to operate Melbourne’s train and tram networks, respectively. The firm’s team has been led by partner Paul Kenny, with partners David McLeish and Ted Hill also involved in advising on the tender. AZB & Partners has had a busy month. The firm has represented Mantri Developers Private Limited in respect of an agreement signed with the Hilton group on 23 June 2009 to establish “Conrad Bangalore”, the first Conrad-branded luxury hotel in India. Partner Sai Krishna Bharathan led the firm’s team in advising the developer, whilst the Hilton group was advised by its in-house team. AZB & Partners has also advised Bacardi Martini BV (Netherlands) in connection with...

Allens Arthur Robinson has advised Aviva plc, one of the world’s largest insurance groups and the largest insurance services provider in the UK, on the sale of Aviva Australia Holdings Ltd to the National Australia Bank (NAB). The transaction, valued at A$825 million (approx US$660.2m), was agreed to on 21 June 2009 and includes the sale of the Australian life insurance operations and wealth management platform, Navigator. Prior to completion, Aviva Australia Holdings will pay a A$40 million (approx US$32m) dividend to its parent. Partner Craig Henderson led the firm’s team alongside partner Robert Simkiss. Allen & Gledhill LLP has advised the sole bookrunner and placement agent, Credit Suisse (Singapore) Limited, and the co-lead manager and placement agent, Nomura Singapore Limited, in respect of the completed placement of 160 million new shares by Raffles Education Corporation Limited. The placement has raised gross proceeds of S$102.4 million (approx US$70.4m). Partners Tan Tze Gay and Rhys Goh advised on the transaction. Allen & Gledhill LLP has also advised The Hongkong and Shanghai Banking Corporation Limited as the dealer and the National University of Singapore (NUS) as the issuer of S$250 million (approx US$171.9m) in principal amount of fixed rate notes due 2014 under its S$1 billion Multicurrency MTN Programme. The notes, which mark the first issue of notes by NUS, have received a “Aaa” rating by Moody’s. Partner Margaret Chin led the firm’s advisory team. Chang, Pistilli & Simmons has advised the Perkins Family on the sale of their shares to Toll Holdings Limited, which has acquired 100 percent of the shares in the Perkins Group Holdings Pty Limited (PGH). PGH...

Allen & Gledhill has advised WBL Corporation Limited (WBL) in respect of its renounceable underwritten rights issue of S$158.4 million (approx US$108.9m) convertible bonds due 2014. The transaction marks the corporation’s first rights issue of convertible bonds. Partners Tan Tze Gay, Sharon Wee, Rhys Goh and Glenn Foo advised on the issuance. Allen & Gledhill has acted as listing agent and Singapore counsel to The Hongkong Land Treasury Services (Singapore) Pte Ltd (HKLTS) in respect of the US$3 billion Guaranteed Medium Term Note Programme established by The Hongkong Land Notes Company Limited, The Hongkong Land Finance (Cayman Islands) Company Limited and HKLTS. The programme is unconditionally and irrevocably guaranteed by The Hongkong Land Company Limited. Standard Chartered Bank (Hong Kong) Limited and The Hongkong and Shanghai Banking Corporation Limited have acted as arrangers. Partners Tan Tze Gay and Glenn Foo were involved in the transaction. Allens Arthur Robinson has acted for Hutchison in the merger of its Australian telecommunications business with Vodafone. After receiving clearance from the ACCC last week, the deal was completed on 10 June 2009 and has created a 50/50 joint venture, named Vodafone Hutchison Australia Pty Limited, which will be the Australia’s third largest mobile operator. The firm advised on Corporate, Integration Strategy and Competition matters, with partners Fiona Crosbie, Victoria Poole, Andrew Finch and Peter James involved. Corrs Chambers Westgarth and Clayton Utz acted for Vodafone. Allens Arthur Robinson has also represented international integrated property group Goodman Group, in respect of its formation of a partnership with China Investment Corporation (CIC). Under the terms of the partnership, which was announced on 16 June 2009,...

Ali Budiardjo, Nugroho, Reksodiputro (ABNR) has represented DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH, one of Europe’s largest development finance institutions, in respect of an unsecured loan in the amount of USD$30 million to PT Bank Pan Indonesia (PANIN), in which ANZ Bank holds a significant minority stake. The loan is intended to provide funding for PANIN’s lending portfolio to clients. Theodoor Bakker and Emir Nurmansyah led the firm’s advisory team. Allen & Gledhill LLP has advised PSA Corporation Limited (PSA) on its issuance of S$300 million (approx US$207m) Fixed Rate Notes due 2019. DBS Bank Ltd has acted as lead manager and bookrunner for the issue whilst DBS Trustee Ltd has acted as trustee for the noteholders. Partners Tan Tze Gay and Glenn Foo have advised PSA whilst partner Margaret Chin has advised DBS Bank Ltd and DBS Trustee Ltd. Allen & Overy LLP has acted as counsel to the Bangkok Branch of The Hongkong and Shanghai Banking Corporation Limited (HSBC), as the lead manager on the THB4 billion (approx US$117.2m) bonds issued by Commonwealth Bank of Australia (CBA). The first bonds issued in the Thai market by a foreign corporation since September 2008 have received a “AA” rating from Standard & Poor’s and a “Aa1” rating from Moody’s. The Siam Commercial Bank Public Company Limited acted as the Bondholders’ Representative and Thailand Depository Company Limited was appointed as Registrar. Partner Stephen Jaggs led the firm’s team. Allens Arthur Robinson has acted for GPT RE Limited, one of Australia’s largest diversified listed property groups, in respect of the sale of Perth’s Floreat Forum shopping centre to property investment...

Clayton Utz has advised global appliance company Haier Group Corporation (Haier), the world’s fourth largest whitegoods manufacturer, on an equity raising agreement with Fisher & Paykel Appliances (FPA), a New Zealand company listed on the Australian Stock Exchange. As a result of the transaction, which is worth A$36.6 million (approx US$29.2m), Haier will take a 20 percent stake in FPA and the companies have entered into a co-operation agreement which defines the areas where they will work together for mutual benefit. Advising on the Australian aspects of the transaction, corporate M&A partner John Elliott led the team, whilst partner Michael Corrigan provided Haier with competition law advice. Clayton Utz has also represented Hong Kong-based Noble Group (Noble) in its acquisition of control of Gloucester Coal. Noble’s move to gain outright control of Gloucester Coal followed ground-breaking proceedings before the Takeovers Panel that resulted in a declaration of unacceptable circumstances in relation to the affairs of Gloucester Coal. Partners John Elliott and Karen Evans-Cullen led the firm’s team in successfully applying to the Panel on behalf of Noble in relation to a scrip bid ― effectively a reverse takeover ― by Gloucester Coal for Whitehaven Coal. Clifford Chance has advised the Lim Family of Malaysia on the sale of its stake in gaming and leisure operator Genting Singapore PLC, which operates and develops gaming and integrated leisure resorts in Asia. The Family’s stake, which raised approximately US$425 million, was sold in a book-built institutional private placement on 27 May, with settlement due to occur on 1 June. The Family will retain an interest in Genting Singapore through its parent company,...