Allen & Gledhill has advised the Housing and Development Board (HDB) on the issue of S$800 million (US$593m) fixed rate green notes due 2027, under its S$32 billion (US$24m) multicurrency medium term note programme. The issue is an issuance of green bonds, proceeds of which are intended to be used to finance or refinance eligible green projects under the Project Category of Green Buildings, and for such other purposes, as set out in the HDB’s Green Finance Framework. Partners Margaret Chin and Sunit Chhabra led the firm’s team in the transaction. Allen & Gledhill has also advised CapitaLand Group and CapitaLand Treasury on the establishment of their S$500 million (US$371m) euro-commercial paper programme. CapitaLand Group is the guarantor for the programme, under which CapitaLand Treasury may issue commercial paper notes. Partners Wu Zhaoqi and Sunit Chhabra led the firm’s team in the transaction. AZB & Partners is advising Delta Corp on its Rs4.5 billion (US$54m) acquisition of shares, along with Peninsula Land and Alpha Alternatives Fund Advisors, to invest in a real estate development company, which will engage in residential re-development and plotted development in the Mumbai metropolitan region. In addition, Delta will contribute its IP and human resources to this acquisition. Partners Zia Mody, Ashwath Rau, Anand Shah and Kashish Bhatia are leading the firm’s team in the transaction, which was signed on May 8 2024 and is yet to be completed. AZB & Partners is also advising KKR & Co on its Rs70 billion (US$838m) acquisition of Healthium Group, including Healthium Medtech, from Apax Partners. Partners Nandish Vyas, Malaveeka Chakravarthy, Nishanth Ravidran, Ajay Singh Solanki, Malini Raju and...

Allen & Gledhill has advised Oversea-Chinese Banking Corporation, as mandated lead arranger, book-runner and sustainability coordinator, on the syndicated S$600 million (US$442m) term, revolving and bank guarantee facilities to DBS Trustee, as trustee of OUE Real Estate Investment Trust. The facilities are aligned with the sustainability-linked loan principles, and will be used to finance OUE-REIT’s capital expenditure, working capital requirements and general corporate funding purposes. Partner Lim Wei Ting led the firm’s team in the transaction. AZB & Partners is advising Apollo Hospital Enterprises on the Rs24.75 billion (US$296m) acquisition of stake by Advent International in Apollo HealthCo, a material subsidiary of Apollo Hospitals Enterprise and Keimed. Partners Aarthi Sivanandh and Bhavana Alexander are leading the firm’s team in the transaction, which was signed on April 26, 2024 and is yet to be completed. AZB & Partners has also advised Internet Fund V, a fund managed by Tiger Global Management, on the Rs700 million (US$8.4m) acquisition of stake, along with other investors, by Z3Partners Tech Fund and Z3P Global in Wow Momo Foods. Partners Ashwath Rau, Srinath Dasari and Nanditha Gopal led the firm’s team in the transaction, which was completed on April 19, 2024. Moreover, AZB & Partners has advised TPG India Investments II on the acquisition of stake by Sanlam Emerging Markets (Mauritius) in Shriram LI Holdings from TPG India Investments II. Partners Divya Mundra and Jeet Chaudhuri are leading the firm’s team in the transaction, which was signed on April 10, 2024 and is yet to be completed. Cyril Amarchand Mangaldas has advised Sanlam on its proposed increase of effective economic shareholding in Shriram General Insurance Co (SGIC) and Shriram...

Allen & Gledhill has advised Maybank Singapore on the establishment of its US$10 billion global covered bond programme, unconditionally and irrevocably guaranteed as to payments of interest and principal by Silver Fern Covered Bonds. The programme was jointly arranged by Maybank Singapore, DBS Bank and BNP Paribas. Partners Magdalene Leong, Andrew Chan, Jo Tay, Hoo Sheau Farn, Francis Mok, Alexander Yap and Sunit Chhabra led the firm’s team in the transaction, which is the first Singapore covered bond programme by a domestic systemically important bank (D-SIB) that is a Singapore subsidiary of a foreign bank group. Allen & Gledhill has also advised Standard Chartered Bank (Singapore), as sole arranger, and Banzu Covered Bonds on the establishment of Standard Chartered Bank’s US$5 billion global covered bond programme, unconditionally and irrevocably guaranteed as to payments of interest and principal by Banzu Covered Bonds. Partners Magdalene Leong, Andrew Chan, Jo Tay, Hoo Sheau Farn, Francis Mok, Alexander Yap, Sunit Chhabra and Glenn David Foo led the firm’s team in the transaction, which is the second Singapore covered bond programme by a domestic systemically important bank (D-SIB) that is a Singapore subsidiary of a foreign bank group. Moreover, Allen & Gledhill has advised Great Eastern Holdings (GEH) and The Great Eastern Life Assurance Company (GEL) on the establishment of its S$2 billion (US$1.47b) euro medium term note securities programme and the issue of S$500 million (US$367m) 3.928 percent subordinated notes due 2039, first callable in 2034 under the programme. Under the programme, GEH and GEL may issue perpetual capital securities that constitute Additional Tier 1 capital securities or subordinated notes that constitute Tier 2 capital in...

Allen & Gledhill has advised Singapore Airlines on the issue of US$500 million 5.25 percent notes due 2034, under its S$10 billion (US$7.34b) multicurrency medium term note programme. Partners Margaret Chin and Sunit Chhabra led the firm’s team in the transaction. Allen & Gledhill has also advised venture capital firm Wavemaker Pacific 5 on leading a series seed round investment in Staple AI, a Singapore-based artificial intelligence start-up which is developing software to automate data processing, reconciliation and analysis using AI and machine learning. Partner Nicholas Soh led the firm’s team in the transaction. Moreover, Allen & Gledhill has advised venture capital firm Wavemaker Pacific 5 on leading the Series A round of investment in Aliena, a Singapore-based space-tech start-up which is developing ultra-low power electric propulsion systems for small satellite platforms. Partner Nicholas Soh also led the firm’s team in the transaction. AZB & Partners has advised Route Mobile founders Rajdipkumar Chandrakant Gupta and Sandipkumar Chandrakant Gupta and family on the Rs25.93 billion (US$311m) acquisition of stake in Route Mobile by Proximus Opal. Partners Vaidhyanadhan Iyer, Roxanne Anderson and Devika Nayak led the firm’s team in the transaction, which was completed on April 12, 2024. AZB & Partners has also advised Lighthouse India Fund IV AIF and Lighthouse India Opportunities on their Rs7 billion (US$84m) acquisition of stake in Parsons Nutritionals. Partners Ananya Sharma and Alpesh Parekh led the firm’s team in the transaction, which was completed on March 28, 2024. Moreover, AZB & Partners has advised FabIndia and Organic India on the Rs19 billion (US$228m) acquisition of Organic India by Tata consumer Products from FabIndia. Partners Anil Kasturi and Anisha...

Allen & Gledhill is acting as Singapore counsel to Hotel101 Global and its affiliates on its US$2.3 billion proposed listing in New York via a business combination with a Nasdaq-listed special purpose acquisition company, JVSPAC Acquisition. Hotel 101 is the Singapore-headquartered subsidiary of Philippine-listed investment company DoubleDragon. Upon completion of the proposed business combination transaction, the combined entity is expected to be publicly listed on the Nasdaq. The Nasdaq listing will provide Hotel101 with access to public capital markets, and help accelerate its global expansion plans. Partners Christian Chin, Nicholas Soh, Sunit Chhabra, Shalene Jin and Lim Xiu Hui are leading the firm’s team in the transaction. Allen & Gledhill has also advised The Hongkong and Shanghai Banking Corporation Singapore Branch, as appointed arranger, CDP issuing and paying agent, CDP registrar and CDP transfer agent, on the establishment of a S$1 billion (US$734m) multicurrency debt issuance programme by Wing Tai Holdings. The Hongkong and Shanghai Banking Corporation was appointed non-CDP issuing and paying agent, non-CDP transfer agent and non-CDP registrar, while HSBC Institutional Trust Services (Singapore) was appointed trustee of the programme. The firm also advised Wing Tai, HSBC Singapore, DBS Bank and Oversea-Chinese Banking Corporation (OCBC) on the issue of S$100 million (US$73.4m) principal amount of 4.38 percent notes due 2029, as Series 001 under the programme. DBS Bank and OCBC were appointed joint global coordinators and, together with HSBC, joint lead managers and book-runners. Partners Margaret Chin, Sunit Chhabra and Magdalene Leong led the firm’s team in the transaction. Moreover, Allen & Gledhill has advised DBS Bank, Oversea-Chinese Banking Corporation, CIMB Bank Singapore Branch, Industrial and Commercial...