Cleary Gottlieb Steen & Hamilton has advised Singapore-based Puma Energy Holdings Pte. Ltd. on a $750 million issue of senior notes on the Luxembourg Stock Exchange. The oil refiner, distributer and retailer will use the proceeds to pay down debt. Allen & Gledhill partners Bernie Lee, Tham Hsu Hsien and Sunit Chhabra advised the issuer on Singapore law. Wildgen Partners served as Luxembourg counsel to Puma. Latham & Watkins London partners Jennifer Engelhardt and Richard Trobman represented joint global coordinators and bookrunners Goldman Sachs International and Societe Generale.
Rajah & Tann partners Goh Kian Hwee, Angela Lim and Cheng Yoke Ping acted for Singapore Exchange-listed investment holding company Gallant Venture Ltd. on the establishment of a $500 million euro-denominated medium-term note program. The company, which owns utilities, industrial parks, resorts, property development and automotive businesses in Indonesia, will use the money raised for general working capital and other corporate purposes. Linklaters advised arranger and dealer DBS Bank Ltd. and CIMB Bank Bhd. as dealer.
Harry Elias Partnership is representing a consortium comprising Singaporean property companies Low Keng Huat (Singapore) Ltd. and Sun Venture Homes Pte. Ltd. on the $457.6 million purchase of Westgate Tower, a 20-story office building, in Singapore. Allen & Gledhill partners Margaret Sog, Ernest Teo, The Hoe Yue and Gloria Goh acted for CapitaLand Ltd. as seller of the property.
White & Case acted for residential property developer Greentown China Holdings Ltd. on a $500 million perpetual bond issue. The company is using the newly raised funds to replace and refinance existing perpetual bonds, as well as for general working capital. Hong Kong partner Anna-Marie Slot and Beijing partner David Li advised Greentown China. Clifford Chance Hong Kong partner Matthew Fairclough represented joint lead managers and joint bookrunners Deutsche Bank, Goldman Sachs (Asia), UBS AG, Macquarie Capital Securities Ltd., Hongkong and Shanghai Banking Corp. Ltd., Standard Chartered Bank and BNP Paribas.
Skadden, Arps, Slate, Meagher & Flom is advising state-run China Huaxin Post and Telecommunications Economy Development Center on its proposed $362 million purchase of a majority stake in Alcatel-Lucent SA’s enterprise business. The French telecom equipment maker announced the offer, in which China Huaxin seeks to acquire 85 percent of Alcatel-Lucent Enterprise, earlier this month when it released fourth-quarter earnings. China Huaxin is currently Alcatel-Lucent’s partner in a joint venture in China. Shanghai partner Gregory Miao, Beijing partner Daniel Dusek and Washington, D.C. partner Ivan Schlager are leading Skadden’s advisory team. Jones Day Paris partner Sophie Hagege is representing Alcatel-Lucent.
Herbert Smith Freehills Hong Kong partner Gary Lock advised the Chinese arm of French specialty chemical company Arkema on a $237.6 million joint venture with a subsidiary of China’s SunVic Chemical Holdings Ltd. Arkema holds a 55 percent interest in the JV, giving it control of acrylic acid production facilities in the city of Taixing, north of Shanghai. The French company has an option to invest another $229.4 million in order to double the plant’s output to 320,000 tons a year. Partners Tan Wei Shyan and Wong Gang of Singaporean firm Shook Lin & Bok acted for SunVic, which trades on the city-state’s stock exchange.
Sidley Austin Hong Kong partner Constance Choy and London partner Mark Thompson are advising Hong Kong-listed Goodbaby International Holdings Ltd. on its proposed $96 million purchase of Germany’s Columbus Holding GmbH, which makes infant car seats and carriers under the Cybex brand. The Jiangsu-province based Goodbaby will pay $52 million in cash for the company, in addition to issuing 100 million new shares worth $44 million. Eversheds Munich partner Christophe Samson and Birmingham partner Antony Walsh acted for certain shareholders of Columbus.
Paul Hastings Hong Kong partners Patricia Openshaw Tan and Steve Winegar represented Bank of the Philippine Islands on a $555 million rights offering, the proceeds from which will be used to increase its capital reserves. BPI, which is controlled by Philippine conglomerate Ayala Corp., sold 370 million shares at $1.50 each. Milbank, Tweed, Hadley & McCloy Hong Kong partner James Grandolfo acted for joint international bookrunners J.P. Morgan and Goldman Sachs.
Milbank, Tweed, Hadley & McCloy Hong Kong partner James Grandolfo has advised Philippine National Bank on a $265 million rights offering. The bank, which is controlled by tycoon Lucio Tan, sold 163 million shares at $1.58 apiece in order to grow its consumer-lending business and bolster its capital position. Sidley Austin Hong Kong partner Alexander Lloyd acted for joint lead managers Credit Suisse and Deutsche Bank. Philippine firm Picazo Buyco Tan Fider & Santos advised PNB Capital and Investment Corp. as sole domestic underwriter.
Norton Rose Fulbright Singapore partners Jeff Smith and Nick Merritt acted for Indonesian electrical utility PT Perusahaan Listrik Negara on a $218.5 million financing for two gas-fired power plants in Indonesia. Allen & Overy Singapore partner Jason Humphreys and London partner Atif Hanif advised Standard Chartered lender, as well as Finnish export credit agency Finnvera, which guaranteed the debt.
Maddocks and Canadian firm Stikeman Elliott are advising Montreal-based Dairy company Saputo Inc. on its winning $479.2 million bid for Australia’s Warrnambool Cheese and Butter Factory Company Holdings Ltd. The company offered $8.50 a share for Warrnambool, in a contest that included rival bids from Australian companies Murray Goulburn Co-operative Co. Ltd. and Bega Cheese Ltd. Maddocks Sydney partners Peter Shaw and Chris Kinsella and Melbourne partners Ron Smooker and Gina Wilson acted for Saputo. The partners at Stikeman Elliott were not available at press time. Minter Ellison Melbourne partners Tim Watkin and Alberto Colla are acting for Warrnambool on the deal.
Herbert Smith Freehills has advised a consortium of investors led by Hong Kong businessman William Hui on their $63.3 million acquisition of United Power Dairy Group, Australia’s largest private dairy processor. Hui is chairman of Swing Media Technology Group Ltd., a holding company that manufactures CDs, DVDs and other media. Melbourne partner Michael Ziegelaar acted for the consortium. K&L Gates Melbourne partner John Mann represented United Dairy.
Ashurst Sydney partner Lisa Simmons represented Australian pension fund Sunsuper on its $153 million purchase of close to 70 percent of Discovery Holiday Parks from Next Capital, Allegro Funds and Macquarie Funds. Sunsuper already held a 30 percent share of the company, which operates 31 caravan parks and campgrounds in Australia. Discovery Parks management will retain control of the few remaining percent. Minter Ellison Sydney partner Callen O’Brien acted for the sellers.
Khaitan & Co advised a subsidiary of Indiabulls Financial Services Ltd., an Indian non-bank lender, on its securitization of a portfolio of commercial vehicle loans worth $17 million. Mumbai partner Shishir Mehta and Mumbai associate partner Kumar Saurabh Singh handled the transaction for the subsidiary, Indiabulls Infrastructure Credit Ltd. No other law firms were involved.
Khaitan & Co represented a subsidiary of India’s Edelweiss Financial Services Ltd. on an $80 million issue of nonconvertible debentures. The company, which provides investment banking, asset management, insurance broking and other services to clients, plans to use the money for lending and further investments. Mumbai partners Sudhir Bassi, Nikhilesh Panchal and Vibhava Sawant acted for Edelweiss. ICICI Securities Ltd. and Axis Capital Ltd. arranged the issuance. No other law firms were involved in the deal.