Deal Watch 4/19/13

Posted on April 19, 2013 at 5:04 PM

alb_dealwatch_logoAllen & Gledhill advised PT Alam Sutera Realty Tbk, through its Singapore-incorporated subsidiary Alam Synergy Pte Ltd, in its issuance of US$235 million 6.95 percent senior notes due 2020. The bonds are guaranteed by Alam Sutera and other subsidiary guarantors and have the benefit of a security package that is shared with the 10.75 percent notes due 2017 previously issued by Alam Sutera International Private Ltd. Morgan Stanley Asia and UBS AG Singapore Branch acted as joint book-runners and lead managers. Partner Glenn David Foo led the transaction.

Allen & Gledhill also advised Parkway Pantai Ltd in a facility agreement with DBS Bank Ltd, Malayan Banking Berhad Singapore Branch, Oversea-Chinese Banking Corporation Ltd, Standard Chartered Bank and United Overseas Bank Ltd, as mandated lead arrangers, for term and revolving loan facilities in aggregate amounts of S$500 million (US$404.56m) and S$250 million (US$202.8m), respectively. Partner Julie Sim led the transaction.

Clifford Chance advised MGPA, on behalf of MGPA Asien Spezialfonds, which targets German-speaking institutional investors, in two property investments in Japan. The investments comprise the acquisition of two Tokyo office buildings, South Shin Otsuka building in Otsuka and Shinjuku TX building in Shinjuku. These transactions are MGPA Asien Spezialfonds’ first investments in Japan. The fund is launched on the administration platform of the German investment company Universal-Investment.

Clifford Chance also advised a consortium of 11 financial institutions, including Agricultural Bank of China Ltd Hong Kong Branch, Bank of China (Hong Kong) Ltd, Bank of Communications Co Ltd Hong Kong Branch, The Bank of East Asia Ltd, CCB International Securities Ltd, Citibank NA, Deutsche Bank AG, The Hong Kong and Shanghai Banking Corporation ltd, Industrial and Commercial Bank of China (Asia) Ltd, JP Morgan and Standard Chartered Bank (Hong Kong) Ltd, in their respective investment as founding shareholders of OTC Clearing Hong Kong Ltd (OTC Clear) to provide clearing services for over-the-counter (OTC) derivatives. The consortium will hold in aggregate 25 percent of the total issued shared capital of OTC Clear. Partner Neeraj Budhwani led the transaction.

Paul Hastings represented Haitong International Securities Group Ltd, a subsidiary of China’s second largest securities, Haitong Securities Co Ltd, in its HK$1.17 billion (US$150.7m) rights issue. One rights share for every two existing shares was offered at HK$2.55 (US$0.3285) per rights share. Partners Raymond Li and Catherine Tsang led the transaction.

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