Our Financial Services Group advises major domestic and international financial institutions, domestic and international issuers, and the treasury and financial departments of established companies on matters relating to financial markets and institutions.
Our Group covers a wide range of financial transactions. As specialists in equity and debt fund raisings in Singapore, securitisations, structured products, derivatives, asset management, financial services and regulatory advice, we have developed deep experience and connections in Singapore and elsewhere across the global financial world.
Asset Management
& Funds
Banking
& Finance
Debt Capital
Markets
Equity Capital
Markets
Financial Services
Regulatory
Real Estate
Investment Trusts
• Acted for Indies Capital Partners, a leading Singapore-based Indonesia-focused alternative asset manager with a strategic alliance with Värde Partners, a US$14 billion global alternative investment firm, in the establishment of its second private credit fund, Indies Special Opportunities II, L.P., which achieved a final closing of US$145 million in committed capital;
• Acted for East Asia Advisory Pte Ltd in the establishment of EV 6, a US$30 million fund for start-ups in the seed to Series A stage across ASEAN with a focus on the Indonesian market;
• Acted for TLC Capital Management Pte. Ltd. and Titan Dining Partners Ltd in the establishment of Titan Dining LP, a private equity fund that acquired the Asia-Pacific master franchise holder of the “Tim Ho Wan” brand, Tim Ho Wan Pte. Ltd., and its affiliate Dim Sum Pte. Ltd., which owns and operates Tim Ho Wan stores in Singapore. Jollibee Worldwide Pte Ltd., a subsidiary of Jollibee Foods Corporation, acquired 45% stake in Titan Dining LP for S$45 million;
• Advised Temasek Holding as principal investor in a fund managed and co-invested by Ascendas-Singapore Pte Ltd that would invest approximately 20 billion rupees (S$398 million) in development logistics assets key Indian cities of Mumbai, Pune, Chennai, Bangalore and Ahmedabad;
• Advised Savills Investment Management Pte. Limited in the set-up of Savills IM Japan Residential Fund;
• Acted for a club of lenders in a S$1.2 billion “green loan” granted to Frasers Property Aquamarine Trustee Pte. Ltd. (in its capacity as trustee-manager of Aquamarine Star Trust) for the refinancing of Frasers Tower, a premium Grade-A energy-efficient office tower with its own park and podium roof gardens, located at the gateway to Singapore central business district;
• Acted for the Borrowers in the grant of loan facilities of up to S$1.54 billion to Wallich Residence Pte. Ltd, TPC Commercial Pte. Ltd. and TPC Hotel Pte. Ltd. for the continuing development of an integrated development (which includes office, residential, hotel and retail components) in Tanjong Pagar;
• Acted for the Mandated Lead Arrangers, the Original Lenders, the Original Hedge Counterparties, the Account Bank, the Facility Agent and the Security Agent as transaction counsel in the US$30 million financing to City Square Commercial Company Limited, for the development and construction of the commercial component of the landmark “Junction City” project situated in New Bogyoke Market and Open Air Bazaar, on Bogyoke Aung San Road and Shwedagon Pagoda Road, Pabedan Township, Yangon, Myanmar;
• Acted for MM Treasure Corporation in the financing in connection with the construction, development and completion of “One Bangkok”, primed to be Thailand’s largest integrated development, targeted to transform Bangkok’s city-centre and become a new global landmark;
• Acted for a syndicate of lenders in a financing granted to subsidiaries of ARA Asset Management Limited, for the acquisition of a portfolio of 38 hotels under the Hyatt Place and Hyatt House franchise across 21 states in the United States;
• Acted for Pacific International Lines (Private) Limited (“PIL”) on the intermediated exchange of bonds which raised S$60 million for PIL;
• Acted for Vibrant Group Limited in its exchange offer where it made an offer to holders of its S$100 million 7.35% subordinated perpetual securities to exchange their holdings for new fixed rate notes issued under the S$500 million Multicurrency Debt Issuance Programme;
• Acted for Sunpower Group Ltd. in its proposed issuance of 2.5% convertible bonds due 2022 of an aggregate principal amount of up to US$70 million with an initial conversion price of S$0.60 together with the issuance of warrants exercisable at an aggregate amount of US$30 million with exercise price of S$0.70 (if exercised between issuance and up till the end of 2019) and S$0.80 (if exercised in 2020)
• Acted for First Sponsor Group Limited, in a renounceable and non-underwritten rights issue (the “Rights Issue”) of S$162.2 million in aggregate principal amount of 3.98 per cent. perpetual convertible capital securities (“Convertible Securities”), on the basis of one Convertible Security for every four existing ordinary shares. The Rights Issue was managed by DBS Bank Ltd;
• Acted for a proprietary investment arm of a financial institution in connection with its investment in a private logistics player;
• Acted for DBS Bank Ltd. as Sole Issue Manager, Bookrunner and Underwriter in the initial public offering of shares by APAC Realty Limited and Asia-Pacific Realty Holdings Ltd and the listing by APAC Realty Limited on the Main Board of Singapore Exchange Securities Trading Limited;
• Acted for RE&S Holdings Limited, a concept owner and operator of F&B Outlets in Singapore and Malaysia that provides customers with Japanese cuisine and dining experiences, in its initial public offering of shares and listing on Catalist Board of the Singapore Exchange Securities Trading Limited;
• Acted as special Singapore counsel for the issuer, WAVE Life Sciences Ltd., a Singapore-incorporated company focused on developing targeted therapies for patients impacted by rare diseases, in respect of its initial public offering and listing on NASDAQ;
• Acted for Hyphens Pharma International Limited, one of Singapore’s leading specialty pharmaceutical and consumer healthcare groups, in its initial public offering of shares and listing on Catalist Board of the Singapore Exchange Securities Trading Limited;
• Acted for Biolidics Limited, a Singapore-based medical technology company focusing on the development of cell enrichment systems, in its initial public offering of shares and listing on the Catalist Board of the Singapore Exchange Securities Trading Limited;
• Advised BDO Unibank, Inc on legal and contractual matters relating to the opening of its branch in Singapore;
• Acted as Singapore regulatory counsel to the Bank of N.T. Butterfield & Son Limited in its acquisition of a major German bank’s Global Trust Solutions business;
• Acted for Australia and New Zealand Banking Group Limited, Singapore Branch as Singapore counsel in the statutory voluntary transfer of its retail and wealth management business in Singapore to DBS Bank Ltd pursuant to Sections 55B and 55C of the Banking Act (Chapter 19 of Singapore) (“Statutory Transfer”). The Statutory Transfer involved making the necessary lodgement with the Monetary Authority of Singapore, and subsequently, obtaining the sanction of the High Court of Singapore in a two-stage approval process;
• Acted for NTUC Income (“NTUC”) in a proposed strategic partnership with Fullerton Fund Management Company Ltd (“Fullerton”) to appoint Fullerton as the investment manager of a portfolio of NTUC assets estimated at S$23 billion;
• Acted for Eurex Clearing AG (“Eurex”) in its application to the Monetary Authority of Singapore for recognition as a Recognised Clearing House (“RCH”) in Singapore. Eurex has obtained RCH status;
• Acted for Dasin Retail Trust Management Pte. Ltd. and Zhongshan Dasin Real Estate Co., Ltd., the trustee-manager and sponsor of Dasin Retail Trust respectively, in an initial public offering of units representing in Dasin Retail Trust on the main board of the Singapore Exchange under Regulation S to raise approximately S$160.1 million (including the proceeds from the issuance of cornerstone units);
• Acted for Sasseur REIT and its sponsor, Sasseur Cayman Holding Limited, in an initial public offering of Sasseur REIT on the main board of the Singapore Exchange raising S$396 million in total gross proceeds. Sasseur REIT is the first outlet mall REIT listed in Asia;
• Acted for Citigroup Global Markets Singapore Pte. Ltd., DBS Bank Ltd. and Merrill Lynch (Singapore) Pte. Ltd., as joint global coordinators and bookrunners, in the equity fund raising by Frasers Logistics & Industrial Trust (comprising a private placement and a non-renounceable preferential offering of units), which raised gross proceeds of approximately S$476 million;
• Acted for Mapletree Logistics Trust Management Ltd., as manager of Mapletree Logistics Trust, and HSBC Institutional Trust Services (Singapore) Limited as trustee of Mapletree Logistics Trust, in relation to the acquisition by Mapletree Industrial Trust of a 50.0% interest in 11 property holding companies, and the private placement by Mapletree Logistics Trust, which raised gross proceeds of approximately S$220 million; and
• Acted for Credit Suisse (Singapore) Limited and Oversea-Chinese Banking Corporation Limited as joint lead managers and underwriters to the renounceable rights issue by OUE Commercial Real Estate Investment Trust, which raised gross proceeds of approximately S$587.5 million to fund the acquisition of the office components of OUE Downtown.
Band 1 in Banking & Finance, Capital Markets and Securitisation & Derivatives - Singapore
Chambers Asia-Pacific – Asia-Pacific’s Leading Lawyers for Business 2019
Tier 1 in Banking & Finance and Capital Markets – Singapore
IFLR1000: Financial & Corporate – The Guide to the World’s Leading Financial Law Firms 2019
No. 1 Singapore law firm ranked in the Asia-Pacific & Japan Borrower Loans market and Top 15 Firms in the Asia-Pacific & Japan Borrower Loans market
Thomson Reuters’ Full Year 2018 Global Syndicated Loans Review Legal Advisors League Table
Tier 1 in Banking & Finance; Capital Markets and Financial Services Regulatory – Singapore
The Legal 500: Asia-Pacific – The Client’s Guide to the Asia-Pacific Legal Profession 2019
Top 2 Singapore legal advisers to Borrowers (by volume, deal count and market share) in the Singapore Borrower Loans market
Bloomberg’s Full Year 2018 Global Legal Advisers League Table
Top 100 Firms in the world for corporate investigations
Global Investigations Review (GIR) 100, 2018