Allen & Gledhill has acted as transaction counsel to DBS Bank, BNP Paribas, Oversea-Chinese Banking Corporation, United Overseas Bank, The Hongkong and Shanghai Banking Corporation Singapore Branch and MUFG Bank Singapore Branch on the €300 million (US$321m) term loan facilities and €740 million (US$791m) term loan facilities to SATS Treasury. DBS, BNP, OCBC and UOB were appointed as mandated lead arrangers of the €300M (US$321m) facility, while DBS, HSBC, MUFG and OCBC were appointed as mandated lead arrangers of the €740M (US$791m) facility. The facilities will be used to fund Promontoria Holding 264, a wholly-owned subsidiary of SATS, on its redemption and purchase of certain fixed and floating rate notes. Partner Lim Wei Ting led the firm’s team in the transaction. Allen & Gledhill has also advised Oversea-Chinese Banking Corporation, acting through its Sydney Branch, on the issue of A$1 billion (US$659m) floating rate green notes due 2026, under its US$30 billion global medium term note programme. OCBC, Australia and New Zealand Banking Group Singapore Branch, National Australia Bank and Westpac Banking were appointed joint lead managers in respect of the notes. Partner Glenn David Foo led the firm’s team in the transaction. Moreover, Allen & Gledhill has acted as transaction counsel to Keppel Infrastructure Fund Management, as trustee-manager of Keppel Infrastructure Trust (KIT), on its S$299.6 million (US$221.6m) equity fund raising, comprising of a private placement of new units in KIT to institutional and other investors, and a non-renounceable underwritten preferential offering of new units to entitled unitholders of KIT. The net proceeds from the private placement and preferential offering will be used towards the partial repayment of...

Allen & Gledhill has advised DBS Bank on the consent solicitation in relation to the outstanding S$175 million (US$130m) 4.05 percent notes due 2025, under the S$500 million (US$371m) multicurrency debt issuance programme, and the update of the programme, to inter alia, increase the programme limit from S$500 million (US$371m) to S$1 billion (US$742m), by Thomson Medical Group. DBS was appointed sole solicitation agent of the consent solicitation and sole arranger of the updated programme. Partners Margaret Chin and Delwin Singh led the firm’s team in the transaction. AZB & Partners has advised Sika on its acquisition of MBCC group and Master Builders Solutions India, including the divestment of certain divisions of the MBCC Group to Cinven. Partners Nohid Nooreyezdan and Kunal Kumbhat led the firm’s team in the transaction, which was completed on May 2, 2023. AZB & Partners has also advised Plutus Investment and Holding on its Rs900 million (US$11m) acquisition of Provogue (India). Partners Hardeep Sachdeva Priyamvada Shenoy, Ravi Bhasin and Kamal Shanker led the firm’s team in the transaction, which was completed on April 25, 2023. Moreover, AZB & Partners is advising Kohlberg Kravis Roberts & Co and investment funds, vehicles and/or entities managed and/or advised by it or its affiliates on the Rs40 billion (US$483m) acquisition by IndiGrid Trust and its affiliates of 100 percent of the units of Virescent Renewable Energy Trust and shares of Virescent Infrastructure Investment Manager. Partners Ashwath Rau and Atreya Bhattacharya are leading the firm’s team in the transaction, which was signed on May 12, 2023 and is yet to be completed. Further, AZB & Partners is advising Elliott Investment...

AZB & Partners is advising Omega TC Holdings and Tata Capital Financial Services, as the selling shareholders, on the IPO by Fincare Small Finance Bank of equity shares comprising a fresh issue aggregating up to Rs6.25 billion (US$76m) and an offer for sale of up to 17 million equity shares by Fincare Business Services and other selling shareholders, including Omega TC Holdings and Tata Capital Financial Services. Partners Varoon Chandra and Agnik Bhattacharyya are leading the firm’s team in the transaction, which was signed on May 1, 2023 and is yet to be completed. AZB & Partners has also advised Accordion Partners on the acquisition by its affiliates, Accordion Partners Acquisition and Accordion Partners Acquisition II, of 100 percent equity stake in Meritus Intelytics and its US subsidiary, Merilytics. Partners Ashwath Rau and John Adwet Raghav led the firm’s team in the transaction, which was completed on May 3, 2023. Moreover, AZB & Partners is advising TPG Asia VII SF on an IPO by R R Kabel comprising a fresh issue of equity shares, aggregating up to Rs2.25 billion (US$27.3m), and an offer for sale of up to approximately 17.2 million equity shares by TPG Asia VII SF and other shareholders. The draft red herring prospectus was filed on May 6, 2023. Partners Varoon Chandra and Lionel D’Almeida led the firm’s team in the transaction, which is yet to be completed. Further, AZB & Partners has advised FIH Mauritius Investments on its Rs25 billion (US$303.5m) acquisition of 10 percent of equity stake in Bangalore International Airport from Siemens Project Ventures. The acquisition will be accomplished in two tranches, with...

Allen & Overy has advised e& enterprise on its acquisition of a majority stake in Beehive Group, a peer-to-peer (P2P) lending platform. The acquisition, which is subject to customary regulatory approvals, will enable e& enterprise to broaden and enhance its core value proposition in several digital adjacent verticals. Beehive Group is an online digital marketplace lender for P2P term debt finance in the UAE, and is operating a bank partnership model in Saudi Arabia and Oman. It became the first regulated P2P platform across MENA in March 2017, and is one of the only fully operational and regulated P2P platforms in the GCC. Beehive Group has provided over AED1 billion (US$272m) in funding to SMEs to date. Formerly known as Etisalat Digital, e& enterprise is part of Abu Dhabi-listed e&, a leading ICT and telecommunications group. Operating in 16 countries across the Middle East, Asia and Africa, with decades of experience starting in the UAE as the country’s first telecoms company, e& delivers advanced B2B solutions using the latest technologies. Corporate partner Ben Ward led the firm’s team in the transaction. AZB & Partners is advising Kohlberg Kravis Roberts & Co and investment funds, vehicles and/or entities managed and/or advised by it or its affiliates on the Rs20.4 billion (US$249.5m) acquisition by KKR affiliate Greenlake Asia Holdings II of equity stake in Serentica Renewables. Partners Ashwath Rau and Atreya Bhattacharya are leading the firm’s team in the transaction, which was signed on April 24, 2023 and is yet to be completed. AZB & Partners has also advised Hero Enterprise Partner Ventures on its Rs2.5 billion (US$30.6m) acquisition of stake...

AZB & Partners has advised Avaada Ventures on the US$1 billion acquisition of stake by Brookfield affiliate India Renewables Opportunities Fund-Scheme III in Avaada Ventures. Partners Ashwath Rau and Atreya Bhattacharya led the firm’s team in the transaction, which was completed on March 29, 2023. AZB & Partners has also advised Integral Investments South Asia VIII, a Bain Capital entity, on the acquisition by HL Terminal Holding, a wholly-owned subsidiary of Hapag-Lloyd Aktiengesellschaft, of a 35 percent stake in J M Baxi Ports & Logistics from Integral Investments South Asia VIII. Partners Qais Jamal and Gaurav Bansal led the firm’s team in the transaction, which was completed on April 19, 2023. Moreover, AZB & Partners is advising TPG Capital on the acquisition by TPG SG Magazine in Manipal Health Enterprises from the promoters. Partners Vaidhyanadhan Iyer, Bhuvana Veeraragavan and Bharat Budholia are leading the firm’s team in the transaction, which was signed on April 6, 2023 and is yet to be completed. Cyril Amarchand Mangaldas has advised Barclays Bank, DBS Bank, MUFG Securities Asia, State Bank of India (London Branch) and Standard Chartered Bank, as the dealers, on REC’s US$750 million issuance of 5.625 percent green bonds with a five-year maturity under its existing US$7 billion global medium term note programme via note offering circular dated April 3, 2023. The issuance, which is REC’s first overseas bond issuance in two years, represents the largest senior US$ tranche by an Indian NBFC, and the largest senior green bond tranche by a South/ South-East Asian issuer. The notes are listed at the India International Exchange and the NSE IFSC, and the listing was completed...