Singapore


WongPartnership has acted for U.S. agribusiness giant Cargill Inc. on the refinancing of a $1.25 billion credit facility with Asian banks. Partner Christy Lim led WongPartnership’s team on the deal. Linklaters London-based managing associate Soumitro Mukerji represented lead arrangers Australia and New Zealand Banking Group Ltd., The Bank of Tokyo-Mitsubishi UFJ Ltd., BNP Paribas, DBS Bank Ltd., Deutsche Bank AG, London branch, The Hongkong and Shanghai Banking Corp. Ltd., and Standard Chartered Bank.
 
Rajah & Tann has advised Ascendas Funds Management (S) Ltd. on the $101.8 million purchase of the Galen, a six-story commercial building in Singapore Science Park II, the second of two districts geared toward research-oriented industries. The building, purchased from Singapore Science Park Ltd., will be included in the Ascendas Real Estate Investment Trust. Partner Yap Chew Fern led work on the deal for Rajah & Tann. Allen & Gledhill acted for Science Park.
 
WongPartnership partners Colin Ong, Khoo Yuh Huey, and Tan Teck Howe represented property investor and developer City Development Ltd. on a $40.3 million issue of Islamic trust certificates. Allen & Gledhill partner Suhaimi Zainul-Abidin advised Maybank Kim Eng Securities Ptd. Ltd., the dealer on the transaction.
 
Rajah & Tann partners Chia Kim Huat and Danny Lim advised Singaporean movie distributor Scorpio East Holdings Ltd. on a $1.8 million share placement. The money raised will be used to repay existing debt, to acquire further movie distribution rights, and for general working capital.
 


Australia
 

King & Wood Mallesons Sydney partner Sue Kench has advised DEXUS Property Group on a $526.4 million purchase of partial or complete stakes in three Sydney office buildings. Herbert Smith Freehills Sydney partners Greg Hing and James Graham acted for the seller, asset management group Colonial First State.
 
Ashurst Sydney partner Paul Jenkins has represented Bank of Tokyo–Mitsubishi UFJ, Sydney Branch, on a $314.3 million sale of transferable certificates of deposit, the first issuance under a $3.1 billion program. The sale is an attempt by the Japanese bank to diversify its sources of Australian dollar funding as it expands in that market. King & Wood Mallesons Sydney partner Philip Harvey represented Morgan Stanley as arranger of the program and Morgan Stanley, Mitsubishi UFJ Securities International, National Australia Bank, and Westpac Banking Corp. as managers of the first issuance.
 
Allens Sydney partner Victoria Holthouse has acted for property group Grosvenor Australia on the sale of its 50 percent stake in a 34-story Brisbane office tower to the Motor Accident Commission of South Australia for $204.3 million. Thomsons Lawyers Adelaide partner Sian Rees represented MAC on the deal.
 


China/Hong Kong
 

Clifford Chance has represented state-owned China MinMetals Corp. on a $403.2 million issue of so-called dim sum bonds, which are denominated in renminbi, on the Hong Kong Stock Exchange. Hong Kong partner Connie Heng and Shanghai partner Jean Thio advised the Chinese mining company, while JiaYuan Law Offices acted as Chinese law counsel. Linklaters acted for underwriters The Hongkong and Shanghai Banking Corp., DBS Bank Ltd., Industrial and Commercial Bank of China (Asia), Agricultural Bank of China International, and Standard Chartered Bank.
 
Eversheds has advised Hong Kong–based private equity group AID Partners Capital on a $10 million investment in Prime Focus World N.V., a Los Angeles–based visual effects and animation company. Hong Kong partners Norman Hui and Stephen Mok led the Eversheds team.
 


India
 

Dorsey & Whitney partners John Chrisman in Sydney and Ted Farris in New York advised the Indian government on a recent $279.2 million sale of shares in the Steel Authority of India Ltd. The Indian government has been selling stakes in a number of state-owned enterprises in order to help bridge a major budget deficit. Mumbai’s Crawford Bayley & Co. also advised the government on the sale. Cleary Gottlieb Steen & Hamilton and Amarchand & Mangaldas & Suresh A. Shroff Co. partner Prashant Gupta represented brokers Axis Capital Ltd., Deutsche Equities India Private Ltd., HSBC Securities, Capital Markets India Ltd., J.P. Morgan India Private Ltd., Kotak Securities Ltd., and SBICAP Securities Ltd.
 
Email: tbrennan@alm.com .