Allen & Gledhill has advised Public Utilities Board (PUB) on the establishment of S$10 billion (US$7b) multicurrency medium term note programme and issue of US$800 million 3.43 percent green notes due 2052. The notes will be used to finance or refinance new or existing eligible green projects under PUB’s Green Financing Framework. Partners Margaret Chin, Fabian Tan and Sunit Chhabra led the firm’s team in the transaction. Allen & Gledhill has also advised Housing and Development Board on the issue of S$1 billion (US$709m) fixed rate notes due 2029, under its S$32 billion (US$22.7b) multicurrency medium term note programme. Partners Margaret Chin, Fabian Tan and Sunit Chhabra also led the firm’s team in the transaction. AZB & Partners advised Tata Sons affiliate Tata Digital on its acquisition, along with certain other existing shareholders, of stake in Tata 1MG Technologies (formerly known as 1MG Technologies), pursuant to a rights issue undertaken by 1MG. The total rights issue size is Rs3.2 billion (US$40m), while the amount invested by Tata in 1MG is Rs2.54 billion (US$32m). Partner Nilanjana Singh led the firm’s team in the transaction, which was completed on September 2, 2022. AZB & Partners is also advising Internet Fund V, a fund managed by Tiger Global Management, on the Rs1.25 billion (US$15.6m) acquisition of equity stake by Oaks India Consumer Fund-I (OAKS Asset Management) in Wow Momo Foods, via Series D fund raise round. Internet Fund V is an existing investor in Wow Momo Foods. Partners Ashwath Rau, Srinath Dasari and Nanditha Gopal are leading the firm’s team in the transaction, which was signed on September 05, 2022 and is yet...

Allen & Gledhill has acted as transaction counsel to Oversea-Chinese Banking Corporation, CIMB Bank Singapore Branch and Maybank Securities, as the mandated lead arrangers, on the S$978 million (US$696.7m) sustainability-linked credit facilities to DBS Trustee, in its capacity as trustee of OUE Commercial Real Estate Investment Trust and OUE Hospitality Sub-Trust. The facilities will be used to refinance the existing borrowings of OUE Commercial Real Estate Investment Trust and OUE Hospitality Sub-Trust. Partners Lim Wei Ting and Wong Jie Ning led the firm’s team in the transaction. AZB & Partners has advised De Lage Landen Financial Services India (DLL India) on the sale of its agricultural and healthcare equipment financing portfolio to Kotak Mahindra Bank. Partners Darshika Kothari, Anand Shah and Nikunj Maheshwari led the firm’s team in the transaction, which was completed on July 8, 2022. AZB & Partners has also advised Voltas on the Rs11.88 billion (US$149m) sale of its domestic projects business (relating to mechanical, electrical and plumbing; heating, ventilation and air conditioning and water projects; mining and construction equipment business; and textile machinery division business) to its 100 percent wholly-owned subsidiary Universal MEP Projects & Engineering Services. Partner Qais Jamal led the firm’s team in the transaction, which was completed on August 2, 2022. Baker McKenzie has advised the mandated lead arrangers, the joint social loan coordinators and the lenders on the US$ 1.1 billion syndicated social loan facility to Housing Development Finance Corporation). The loan proceeds will be applied to fund affordable housing projects in India. This facility is the world’s largest social loan to date, India’s largest social financing issuance, the first social...

Allen & Gledhill has acted as transaction counsel to SeaTown Holdings International, which manages SeaTown Private Capital Master Fund, on its US$50 million investment in OnPoint Holdings, an e-commerce enabler in Vietnam. Partners Chong Zhuo Chen, Oh Hsiu-Hau and Teoh Sze Min led the firm’s team in the transaction. Allen & Gledhill has also acted as transaction counsel to venture capital firm Openspace Ventures on leading the US$6.4 million pre-Series A funding round in Nano Technologies, a Vietnam-based earned-wage access start-up which operates the flexible payroll application, VUI, empowering low-income workers to access their salary. Partner Nicholas Soh led the firm’s team in the transaction. AZB & Partners has advised Kohlberg Kravis Roberts & Co and investment funds, vehicles and/or entities managed and/or advised by it or its affiliates on the Rs91 billion (US$1.1b) sale by Kayak Investments Holding, an affiliate of Kohlberg Kravis Roberts & Co, of equity stake in Max Healthcare. Partners Ashwath Rau, Atreya Bhattacharya and Lionel Almedia led the firm’s team in the transaction, which was completed on August 16, 2022. AZB & Partners has also advised Greenizon Agritech Consultancy (doing business as Jai Kisan) on the Rs4 billion (US$50m) acquisition by GMO Venture Partners, Yara Growth Ventures and DG Daiwa Ventures, as well as existing investors, including Blume Ventures, Arkam Ventures, Mirae Asset and Snow Leopard Ventures, of equity stake in Jai Kisan. The debt funding was provided by Northern Arc, Alteria and MAS Financial. Partners Vaidhyanadhan Iyer, Gautam Ganjawala and Veena Gopalakrishnan led the firm’s team in the transaction, which was completed on July 29, 2022. Cyril Amarchand Mangaldas has acted as Indian...

Allen & Gledhill has acted as transaction counsel to the Monetary Authority of Singapore (MAS) on the establishment of the Government of Singapore’s medium term note programme, and the inaugural issue of S$2.4 billion (US$1.7b) fixed rate bonds due 2072 under the programme. MAS is appointed to act on behalf of the government by the Significant Infrastructure Government Loan Act 2021 of Singapore (SINGA), as an agent for issuing securities for moneys borrowed under the SINGA. Under the programme, the SINGA securities, which are in the form of bonds or notes only (such bonds or notes being defined as “SGS (Infrastructure)”) may be issued from time to time via syndication, in accordance with the SINGA and the Significant Infrastructure Government Loan Regulations 2021. The proceeds from the issuance of SINGA securities are to be applied towards financing nationally significant infrastructure projects, subject to the safeguards in the SINGA. The SGS (Infrastructure) to be issued under the programme may include “Green SGS (Infrastructure)”, the issuance proceeds of which are intended to be applied in accordance with the Singapore Green Bond Framework. The bonds are Singapore’s inaugural sovereign green bonds, and the first issuance of SGS via syndication. The bonds also extend the yield curve for SGS to its longest tenor. DBS Bank acted as the arranger of the programme. Partners Yeo Wico, Jeanne Ong, Andrew Chan and Sunit Chhabra led the firm’s team in the transaction. Allen & Gledhill has also acted as transaction counsel to Mercatus Strategic Investment Management, as investment manager to NTUC Income Co-operative, on the sale, via sale of shares in property holding company Savu Investments, by...

Allen & Gledhill has acted as transaction counsel to Maybank Securities and more than ten banks and financial institutions on a S$200 million (US$145m) syndicated term loan facility to Ethoz Capital. Maybank Securities was appointed mandated lead arranger and book-runner. Partner Aloysius Ng led the firm’s team in the transaction. Allen & Gledhill has also acted as transaction counsel to venture capital firm Wavemaker Pacific 4, which led series seed round investments in Beppo Ltd, the Singapore-based holding company of Beppo Inc, a Philippines-based fintech start-up which operates a mobile bookkeeping application for individuals and small businesses, and WriterZen, a Singapore-based software which pulls data from Google keyword and suggestion databases to help users generate content ideas. Partner Nicholas Soh led the firm’s team in the transaction. AZB & Partners has advised Pharmeasy group (API Holdings) on its Rs22.8 billion (US$287m) structured debenture issuance to Goldman Sachs India AIF Scheme-1 and Goldman Sachs India Alternative Investment Trust AIF Scheme-2. Partners Anand Shah, Hufriz Wadia, Karthik Mudaliar and Shriram Shah led the firm’s team in the transaction, which was completed on June 23, 2022. AZB & Partners is also advising Ageas Insurance International NV on its Rs5.8 billion (US$73m) acquisition of 25 percent equity stake in Ageas Federal Life Insurance from IDBI Bank. The Competition Commission of India Form 1 notification was filed on June 22, 2022 and was approved on July 15, 2022. Partner Bharat Budholia is leading the firm’s team in the transaction, which is yet to be completed. Bird & Bird ATMD has acted as Singapore counsel for Exo Imaging, a pioneering health information and devices company, on its acquisition...