Our experience in Asia includes:
ANZ, UOB and SMBC
Advised long-standing client Australia and New Zealand Bank (ANZ), United Overseas Bank (UOB) and Sumitomo Mitsui Banking Corporation (SMBC) on a US$190 million syndicated term loan to Singapore-based chemical producer and distributer Sinochem International Overseas Pte. Ltd. The syndicated term loan will be guaranteed by the Chinese state-owned enterprise, Sinochem International Limited. Allens acted as counsel to the mandated lead arrangers, book runners and lenders, and was responsible for managing the entire legal process, including drafting documentation, structuring and coordinating PRC and Singaporean legal advice.
Advised on the Thai aspects of the US$2.4 billion acquisition of Combined Insurance Company of America from Aon Corporation.
Advised on its acquisition of a 19.9 per cent stake in Shanghai Rural Commercial Bank, formerly Shanghai Rural Credit Co-operative Union, the largest financial services cooperative in the People's Republic of China. We had previously advised ANZ on its cooperative alliance with Shanghai Rural Credit Co-operative Union. Allens also advised on its US$120 million subscription for a 19.9 per cent stake in Tianjin City Commercial Bank (now Bank of Tianjin), China's fourth-largest city commercial bank by assets.
ANZ Bank, Natixis and Rabobank International
Advised the arrangers on a HK$3.2 billion senior secured acquisition financing facility to enable a subsidiary of Pioneer Iron & Steel Group Limited to launch a takeover bid for Hong Kong's main board-listed China Oriental Group.
Bao Viet Holdings
Acted for state-owned insurer Vietnam Insurance Corporation (Bao Viet) in relation to the equitisation and partial sale of a 10 per cent stake in Bao Viet to HSBC, valued at approximately US$255 million.
Advised BHP Billiton in relation to the establishment of a joint alliance with PT Antam Tbk to explore the joint development of an extensive nickel laterite resource on the eastern Indonesian island of Halmahera and, potentially, ore bodies elsewhere. Our role as their international project counsel has included negotiating and drafting the documentation to create a corporate joint venture to develop and construct the individual mining and processing facilities arising out of this alliance.
Acted as the legal advisor for Fresenius Kabi in the company's acquisition of 100 per cent of the equity in Cosco Pharm, the third largest manufacturer of blood bags in China. The deal involved legal due diligence, drafting and negotiating dual transaction documents and advising on state-owned enterprise issues such as state-owned Assets Supervision and Administration Commission (SASAC) valuations and approval, SASAC public bidding requirements, SASAC requirements for employee plans and completion accounts adjustments.
Acted on the establishment of a HK$4.8 billion private equity real estate fund in Hong Kong. The fund was originally intended to be a REIT and we did substantial corporate and property restructuring, considered and advised on licensing and REIT authorisation requirements (including management arrangements and connected party transactions, regulatory exemptions and governance protocols), drafted and negotiated all relevant agreements, prepared the information memorandum for investors and advised on the subsequent refinancing of the Fund.
Las Vegas Sands Corp
Acted for Las Vegas Sands Corp (LVS) in Hong Kong and China, whereby Allens handle their Venetian and Sands trade mark applications and portfolio management, and other trade mark applications and portfolio management relating to their new businesses in Macau. We have also acted on their domain name and other disputes in Hong Kong and China.
PT Perusaahan Gas Negara (Persero)
Acted as English law counsel for PT Perusaahan Gas Negara (Persero) Tbk (PGN) in the US$350 million financing of the South Sumatra West Java Gas Transmission Pipeline. The financing involved a US$100 million bridge facility from ING, a US$50 million facility from International Finance Corporation and a US$225 million long-term facility from Asian Development Bank.
Advised STAR TV (STAR) on its acquisition of ANTV, an Indonesian terrestrial broadcaster. As STAR was based in Hong Kong, the transaction was staffed by lawyers in Hong Kong, Indonesia and Australia. Negotiations occurred in Indonesia, Singapore and Hong Kong.
Advised UBS AG as lead manager on the issue of A$75 million convertible bonds by Industrea Limited, an ASX-listed company, to international investors to finance a major acquisition.
Zijin Mining Group Limited
Advised China's largest gold producer Zijin Mining Group Co., Ltd (Zijin) on its A$27.7 million investment in ASX listed Norton Gold Fields (Norton).