Allen & Gledhill has advised the National Environment Agency (NEA) on the establishment of its S$3 billion (US$2.2b) multicurrency medium term note program, and issue of S$350 million (US$258m) 1.67 percent notes due 2031 and S$1.3 billion (US$958m) 2.5 percent notes due 2051 under the program. The notes are intended to be green bonds under NEA’s Green Bond Framework. The 30-year notes marks NEA’s longest tenor green bond denominated in Singapore dollars to-date, as well as the longest tenor unrated public green bond in Southeast Asia. The notes also mark the largest inaugural bond issuance by a Singapore statutory board. The notes issued by NEA will be applied towards financing its development of sustainable waste management infrastructure, starting with the Tuas Nexus Integrated Waste Management Facility, Singapore’s first integrated facility to treat incinerable waste, source-segregated food waste and dewatered sludge. Partners Margaret Chin, Fabian Tan and Sunit Chhabra led the firm’s team in the transaction. Allen & Gledhill has also advised Keppel on the issue of its S$400 million (US$295m) 2.9 percent subordinated perpetual securities. Partners Margaret Chin, Magdalene Leong and Sunit Chhabra led the firm’s team in the transaction. AZB & Partners has advised Goldman Sachs on the corporate restructuring of Sapphire Foods India, including the more than US$5 million sale of more than five percent equity stake held by Goldman Sachs in Sapphire Foods India. Partners Gautam Saha, Amrita Patnaik and Punita Gupta led the firm’s team in the transaction, which was completed on August 6, 2021. AZB & Partners has also advised Baker Hughes Company and its affiliates and General Electric and its affiliates on the...

Allen & Gledhill has advised TKL & Family on its S$632.4 million (US$466m) pre-conditional voluntary general offer to acquire all the issued ordinary shares, excluding treasury shares, in the capital of Roxy-Pacific Holdings, other than those shares already owned, controlled or agreed to be acquired by TKL. The offer was made for and on behalf of TKL by Oversea-Chinese Banking Corporation. Partners Christopher Ong and Ong Kangxin led the firm’s team in the transaction. Allen & Gledhill has also acted as transaction counsel to Myanmar investors Win Myint Mo Industries and EAP Global Mining on their US$30 million acquisition of a 51 percent stake in Myanmar Metals (MYM). The investors entered into two agreements with MYM in August 2021 on the Bawdwin zinc-lead-silver-copper mine joint venture formed with MYM in 2018. The investors, who already own the remaining 49 percent interest in the project, will take over all of MYM’s interests in the project for US$30 million. Australia-listed Myanmar Metals is seeking shareholders’ approval for the transaction. The firm advised the investors in establishing the joint venture with MYM, and on their joint venture with a new participant in the project. Myanmar director Oh Hsiu-Hau led the firm’s team in the transaction. AZB & Partners is advising Thomas H Lee Partners on the Rs4.5 billion (US$60.6m) acquisition by its affiliate, Gamma Buyer, of Odessa Technologies, including its Indian subsidiary Odessa Solutions India. Partner Ashwath Rau is leading the firm’s team in the transaction, which was signed on September 2, 2021 and is yet to be completed. AZB & Partners has also advised KKR Mauritius PE Investments II on its...

Allen & Gledhill has advised DBS Group Holdings on the issue of US$800 million 1.194 percent notes due 2027, under its US$30 billion global medium term note program. DBS Bank was appointed sole global coordinator for the notes. Partner Glenn Foo led the firm’s team in the transaction. Allen & Gledhill has also acted as transaction counsel to venture capital firms Wavemaker Pacific 3 and Defy Partners II on leading a US$30 million Series A funding round in Bazaar, a Pakistan-based B2B e-commerce operator of Pakistan’s leading online market place that connects retailers directly with wholesalers and manufacturers. Bazaar will use the financing to expand into more cities across Pakistan, and broaden its product and financial services offerings. Nicholas Soh led the firm’s team in the transaction, which is one of Pakistan’s largest Series A funding round. AZB & Partners has advised The Hongkong and Shanghai Banking Corporation and Axis Bank Singapore Branch, as the dealers, on the update of the US$5 billion global medium term note program by Axis Bank. Partners Varoon Chandra, Anand Shah and Hufriz Wadia led the firm’s team in the transaction, which was completed on August 19, 2021. AZB & Partners has also advised Schott, the existing 50:50 joint venture partner in Schott Kaisa, on the acquisition of 50 percent stake by Serum Institute of India in Schott Kaisa from Karius Dadachanji and Shapoor Mistry, and the amendment of the existing shareholders agreement between Schott and the sellers. Partner Daksh Trivedi led the firm’s team in the transaction, which was completed on August 17, 2021. Clifford Chance has advised OCP Asia on a syndicated...

Baker McKenzie has advised Swedish E-sports company Ninjas in Pyjamas (NIP) on its merger with Chinese E-sports group ESV5 – the first M&A in the expanding world of E-sports. The merger establishes NIP Group, a organization that will field teams in all the major E-sports titles. NIP chief executive Hicham Chahine said the deal allows the team to take a “gigantic step” towards becoming truly global. The Baker McKenzie team was led by partner Tracy Wut (M&A, Hong Kong), with support from partners Joakim Falkner (capital markets, Stockholm), Anna Orlander (M&A, Stockholm), Linnea Back (tax, Stockholm), Adam Farlow (capital markets, London), associate Erik Holmgren in Stockhom and counsel Lei Ye of FenXun Partners in Shanghai. Chahine, who will adopt a co-CEO position, said NIP Group will continue to look for growth opportunities both organically and with acquisitions, as well as equity capital raising opportunities. “We came across Victory Five more than a year ago. Initial meetings were positive, and we soon came to realize that both parties’ views on the industry were strongly aligned and that there was serious potential for something much bigger,” he said. Formed in the year 2000, NIP is best known for its Counter-Strike teams, and it has fielded rosters across multiple titles including VALORANT, Rainbow Six: Siege and FIFA. ESV5 is a joint venture by Chinese E-sports programs eStar Gaming and Victory Five and is backed by Chinese video live streaming service DouYu and Chinese anti-virus firm Qihoo 360. Mario Ho (son of the late Macau casino magnate Stanley Ho) is an investor and chief executive of ESV5 Group and will become the co-CEO...

Allen & Gledhill has advised DBS Bank, The Hongkong and Shanghai Banking Corporation Singapore Branch, Oversea-Chinese Banking Corporation and United Overseas Bank, as the joint lead managers, on the issue of S$250 million (US$186m) 5.375 percent subordinated perpetual securities by HSBC Institutional Trust Services (Singapore), as trustee of AIMS APAC REIT. Partners Margaret Chin, Fabian Tan and Sunit Chhabra led the firm’s team in the transaction. Allen & Gledhill (Vietnam) has acted as transaction counsel to SP Group company SPI Energy Investments on a joint venture with BCG Energy to invest in rooftop solar and other renewable energy projects in Vietnam. BCG Energy is a wholly-owned subsidiary of Bamboo Capital Group. The partnership is a key milestone for SP Group to grow its sustainability footprint in Vietnam. The JV will support Vietnam’s green ambitions to become a carbon-neutral economy and increase the ratio of electricity produced from renewable sources to 30 percent by 2030. The JV sets out multiple phases of developments, and an initial target of 500 MW of rooftop projects by 2025. As part of its first rooftop solar projects, the JV will work with Vinamilk, Vietnam’s largest dairy production company, to install a combined 25 MW of rooftop solar power across nine factories and seven farms. Managing partner Oh Hsiu-Hau and partners Tran Thi Phuong Thao and Jonathan Lin led the firm’s team in the transaction. AZB & Partners is advising HIG Capital, acting through HIG Taurus EAL, HIG Capital Partners VI and HIG Taurus SG, on its acquisition from Take Solutions Global Holdings and Take India subsidiary Take Solutions of 75 percent of the total issued and paid up share capital of Ecron Acunova,...