Allen & Gledhill has advised the Housing and Development Board (HDB) on the issue of S$900 million (US$676m) fixed rate green notes due 2028, under its S$32 billion (US$24b) multicurrency medium term note programme. The notes are an issuance of green bonds, proceeds of which are intended to finance or refinance Eligible Green Projects under the Project Category of Green Buildings, and for such other purposes, as set out in HDB’s Green Finance Framework. Partners Margaret Chin and Sunit Chhabra led the firm’s team in the transaction. Allen & Gledhill has also advised DBS Bank, as manager for the rights issue, on the S$244 million (US$182m) renounceable rights issue of subordinated perpetual convertible capital securities by First Sponsor Group. Partner Wu Zhaoqi led the firm’s team in the transaction. Moreover, Allen & Gledhill has advised Keppel subsidiaries Keppel Land (Saigon Centre) and Krystal Investments on the issuance of shares to Toshin Development, through Himawari VNSC3, for US$46.4 million. Keppel Land and Krystal Investments hold 68 percent and 16 percent, respectively, of the total equity interest in Keppel Land Watco-IV and Keppel Land Watco-V, who both hold the land use rights of the Saigon Centre Phase 3 development in District 1, Ho Chi Minh City, Vietnam, which is intended to be a mixed-use development. Managing partner Oh Hsiu-Hau (Vietnam) and partner Zhao Jiawei (Singapore) led the firm’s team in the transaction. AZB & Partners has advised Warburg Pincus on the Rs883.8 million (US$10.5m) acquisition of stake by its affiliate, Aqua Lagoon Investment, in Vistaar Financial Services. Partners Vaidhyanadhan Iyer and Jeet Chaudhuri led the firm’s steam in the transaction, which...

Allen & Gledhill has advised Sembcorp Industries and Sembcorp Financial Services on the issue of S$350 million (US$262m) 3.65 percent fixed rate guaranteed notes due 2036, under their S$5 billion (US$3.75b) euro medium term note programme. The notes are unconditionally and irrevocably guaranteed by Sembcorp Industries. The proceeds from the issue of the notes, after deducting issue expenses, will be used to finance or refinance projects under the Sembcorp Green Financing Framework (2024), which sets out how Sembcorp Industries and its subsidiaries intend to enter into green finance transactions to fund projects which will deliver environmental benefits. Partners Bernie Lee and Sunit Chhabra led the firm’s team in the transaction. Allen & Gledhill has also advised OUE and OUE Treasury on the issue of S$150 million (US$112.5m) four percent green notes due 2029 (Tranche 1 Notes) and S$50 million (US$37.5m) four percent green notes due 2029, to be consolidated and form a single series with the Tranche 1 Notes. The notes were issued under OUE Treasury’s S$3 billion (US$2.25b) multicurrency debt issuance programme, and are unconditionally and irrevocably guaranteed by OUE. This is OUE and OUE Treasury’s inaugural issue of green notes. This is also the first green bond with an independent external review, confirming the underlying use of proceeds is aligned with the green criteria of the Singapore-Asia Taxonomy for Sustainable Finance (2023 edition) by the Monetary Authority of Singapore. Partners Wu Zhaoqi and Kern Wong led the firm’s team in the transaction. Moreover, Allen & Gledhill has advised Aonic Holdings, a Singapore-based holding company for the Aonic business in Malaysia, on a convertible note round of investment, led...

Allen & Gledhill has advised The Hongkong and Shanghai Banking Corporation Singapore Branch, as facility agent for the financing, and the lending and syndication group, which consisted of 17 banks from Australia, Canada, Europe, Japan, Singapore, and the US, on the US$1.8 billion term and revolving loan facilities to Olam Treasury. The proceeds of the facilities will be applied towards the refinancing of Olam Group’s existing loans, working capital and general corporate funding requirements. Partner Julie Sim led the firm’s team in the transaction. Allen & Gledhill has also advised Malayan Banking Singapore Branch and United Overseas Bank on the S$504 million (US$387m) term loan facility to GES Tradewinds. The facility was used by GES Tradewinds to, among other purposes, finance the acquisition of the property known as Mapletree Anson located in Singapore. Partners Kok Chee Wai and Ernest Teo led the firm’s team in the transaction. Moreover, Allen & Gledhill has advised the Public Utilities Board (PUB) on the issue of S$325 million (US$249m) 2.502 percent green notes due 2031 under its S$10 billion (US$7.67b) medium term note programme. The notes are intended to be green bonds under PUB’s green financing framework. Partners Margaret Chin and Sunit Chhabra led the firm’s team in the transaction. AZB & Partners is advising Hero Enterprise Partner Ventures on its acquisition, along with other companies, in Homevista Décor and Furnishings (HomeLane). Partners Anil Kasturi and Ashish Pareek are leading the firm’s team in the transaction, which was signed on September 27, 2024 and is yet to be completed. AZB & Partners has also advised Haier Appliances (India) and its affiliate, Wonder Global...

Allen & Gledhill has advised DBS Bank, Oversea-Chinese Banking Corporation and United Overseas Bank on the S$5.9 billion (US$4.6b) term facilities to CLA Real Estate Holdings. The facilities will be used by CLA Real Estate to, among others, fund its working capital requirements and for general corporate purposes. Partner Kok Chee Wai led the firm’s team in the transaction. Allen & Gledhill has also advised Bank of China Singapore Branch, CIMB Bank Singapore Branch, DBS Bank, Oversea-Chinese Banking Corporation, RHB Bank, Sumitomo Mitsui Banking Corporation Singapore Branch and United Overseas Bank on the S$1.7 billion (US$1.3b) term and revolving loan facilities to Orchard Turn Retail, a company sponsored by CapitaLand and Sun Hung Kai Properties. The facilities will be used to refinance borrowings previously obtained for the acquisition and development of ION Orchard. Partners Lim Wei Ting and Ernest Teo led the firm’s team in the transaction. Moreover, Allen & Gledhill has advised DBS Bank, Oversea-Chinese Banking Corporation and United Overseas Bank on the S$1.4 billion (US$1.1b) acquisition refinancing, land charges, stamp duty, goods and services charge and construction facilities granted to GMC Property, in relation to the land and redevelopment at 5001 Beach Road, which was the subject of an en bloc acquisition. The facilities were secured by, inter alia, a mortgage over the property. Partners Jafe Ng, Daselin Ang and Lyn Wee led the firm’s team in the transaction. AZB & Partners is advising Fairfax India Holdings Corporation, through its investment vehicle, FIH Mauritius Investments, on its Rs6.9 billion (US$82m) acquisition of significant stake in Global Aluminium. Partners Darshika Kothari and Kritika Agarwal are leading the firm’s team...

AZB & Partners has advised Plutus Wealth Management / Mr Arpit Khandelwal on the Rs7.15 billion (US$85.5m) acquisition of stake by Plutus, along other acquirers, in Vikram Solar. Partners Hardeep Sachdeva, Priyamvada Shenoy and Gaurav Priyadarshi led the firm’s team in the transaction, which was completed on June 10, 2024. AZB & Partners has also advised Michael & Susan Dell Foundation on its Rs210 million (US$2.5m) acquisition of stake in Futwork. Partners Hardeep Sachdeva and Priyamvada Shenoy led the firm’s team in the transaction, which was completed on August 28, 2024. Moreover, AZB & Partners is advising Oravel Stays on its Rs44.07 billion (US$526m) acquisition of G6 Hospitality. Partners Niladri Maulik and Anshuman Vikram Singh are leading the firm’s team in the transaction, which was signed on September 6, 2024 and is yet to be completed. Baker McKenzie Thailand has represented RS Public Company and RS Music (RS Group) on the divestment of RS Group’s entire music catalog to Universal Music Group and Universal Music (Thailand) (UMG Group). After representing RS Group on the sale of its interests in its music catalog assets and joint venture with UMG Group in 2023, the firm has just completed the sale of RS Group’s additional stakes, with a total value of US$65 million, to UMG Group. The RS Group’s music catalog is the second largest in Thailand, comprising more than 10,000 master recordings and 6,000 copyright ownerships, publishing rights and licenses dating back as early as 1981. This partnership is in line with RS Public Company’s business plan. Under the joint venture, RS Group would retain rights to ‘offline’ distribution channels in...