Banking and finance: foreign firms in Singapore

Allen & Overy

Allen & Overy stands out for its its substantial banking and finance team in Singapore, and its commitment to Southeast Asia and India. Singapore, Indonesia, India, Vietnam and Thailand are amongst its primary markets, with the Singapore team working closely with colleagues throughout the ASEAN region and beyond. Clients highlight the firm’s expertise in structured lending and leveraged finance. The Singapore office has also made its mark in private equity-driven finance and is rated for energy and infrastructure financings, real estate finance and share-backed finance. The firm is widely recognised for its bank side engagements, representing some of the most influential financial institutions in the region. Qualified in Singapore, India, England and New York, Gautam Narasimhan is a giant of the market with close connections to international banks, private equity funds and credit funds.  Prakash Raja Segaran provides Singapore law expertise in real estate finance and acquisition finance. Jason Humphreys and Scott Lovell are key figures in energy and infrastructure finance. Matt Del Rosso and William Pickersgill are influential at counsel level, especially in acquisition finance, leveraged finance and private credit transactions.

Practice head(s):

Gautam Narasimhan


Other key lawyers:

Prakash Raja Segaran; Jason Humphreys; Scott Lovell; Matt Del Rosso; William Pickersgill


Testimonials

‘We work regularly with Allen & Overy, who are very strong at more complex financings including structured lending and leveraged finance.’

‘Gautam Narasimhan is our relationship partner. He is involved in many of the largest leveraged finance transactions in India and is extremely hands on.’

‘Will Pickersgill and Matt Del Rosso are standout counsels given their ability to navigate the complexity.’

Key clients

DBS Bank


BDO Bank


Work highlights


Linklaters

Linklaters continues to lead the market in acquisition finance, leveraged finance, structured credit and fund-related financings. The firm is increasingly active in supporting special situations funds, credit funds and bespoke structured lending. India, Indonesia and Vietnam are amongst its primary markets; the firm has a number of dual English and India qualified lawyers and has a former association with Widyawan & Partners in Indonesia. ‘The APAC guru in leveraged financePhilip Badge is a longstanding leader in the market with close links to major banks and alternative lenders. Fiona Gray continues to earn recognition for private credit transactions, acquisition financings and fund-related finance. Dior Lin has made a further impression, since becoming a partner in 2022. Rahul Chatterji joined the Singapore office from Shearman & Sterling LLP in 2023 to reinforce the team’s standing in leveraged and acquisition finance, particularly in relation to India and Southeast Asia. Former Singapore managing partner and banking specialist Christopher Bradley retired in 2022 and former counsel Weiling Lee has joined Baker McKenzie Wong & Leow.

Practice head(s):

Philip Badge


Other key lawyers:

Fiona Gray; Dior Lin; Rahul Chatterji


Testimonials

‘Linklaters are one of the leading law firms in finance in APAC.’

‘We often work with Phil Badge who is the APAC guru in leveraged finance. He is extremely knowledgeable in all areas of finance law. We also work with Fiona Gray who is an excellent operator. ’

‘Linklaters remains the pre-eminent law firm for banking and finance matters in South East Asia. They have extensive expertise across a broad range of areas including cross-border financings, leverage finance, sponsor and margin lendings.’

Work highlights


  • Advised Credit Suisse and Morgan Stanley Senior Funding in their capacity as mandated lead arrangers and bookrunners with respect to a heavily syndicated $500m Hong Kong law governed financing for Chindata Group Holdings.
  • Advised Indonesia Investment Authority as original lender in relation to a $300m financing to Jakarta-based online travel agency Traveloka.
  • Advised the mandated lead arrangers and bookrunners with respect to a English law governed financing for Phelps Dodge International (Thailand) and PD (Luxembourg).

Baker McKenzie Wong & Leow

Baker McKenzie Wong & Leow‘s mix of international and local expertise, along with its close links to key lenders in the market, provides a foundation for a thriving banking and finance practice. The firm maintains an active presence in acquisition finance, syndicated lending, real estate finance, and fund finance, and has made a further impression in sustainability-linked loans and green financings. Emmanuel Hadjidakis is chair of the Asia Pacific banking and finance group, and is global head of the acquisition finance team, and has played a key role in developing the firm’s standing in sustainability-linked loans and green financings, along with real estate finance and subscription line facilities. Kah Chin Chu is an emerging talent in the market, notably in syndicated and bilateral loans, and is another key partner in green facilities and sustainability-linked loans. Ian Roebuck provides further expertise and experience in leveraged and acquisition finance, along with subscription credit facilities. Kunal Katre is another key partner.

Practice head(s):

Emmanuel Hadjidakis


Other key lawyers:

Kah Chin Chu; Ian Roebuck; Kunal Katre; Amanda Toh


Testimonials

‘Baker McKenzie have a strong finance team in Singapore.’

‘We often work with Emmanuel Hadjidakis and Kunal Katre primarily on India related transactions. Both are extremely responsive and knowledgeable on India transactions.’

‘Strong team, helpful and reactive to queries, looks outside of the box for effective solutions’

Key clients

CTBC Bank


HSBC


Mizuho Bank


MUFG Bank


Deutsche Bank


Barclays


Standard Chartered Bank (Singapore) Limited


Sumitomo Mitsui Banking Corporation


Bank of America, N.A.


Australia and New Zealand Banking Limited, India


Orion Capital


PT Perusahaan Listrik Negara (Persero) (PLN)


State Bank of India


Work highlights


  • Advised the mandated lead arrangers on a $1.1bn syndicated green loan facility to Indian Railway Finance Corporation, a government linked entity managed by the Ministry of Railway, to raise funding for railway expansion in India.
  • Acted for PT Perusahaan Listrik Negara (Persero) (PLN), the national power company of Indonesia, in the $750m first-ever commercial green financing facility.
  • Advised ANZ Bank Group and the other MLAs on the green finance transaction for the SKI Mauritius (Aditya Birla).

Latham & Watkins LLP

Latham & Watkins LLP has maintained a steady pipeline of leveraged finance, acquisition financings and bank/bond deals. It has worked on a series of high-value acquisition financings across the Southeast Asia and South Asia regions. Singapore, Thailand, the Philippines, Malaysia, Vietnam and Indonesia are amongst its primary markets, and the team is a growing force in India, where it has advised on a number of headline acquisition financings. The finance team frequently works alongside colleagues in the capital markets, M&A, and private equity practices. Timothy Hia is an experienced banking and finance partner with an excellent record in headline and high-value financings, particularly in the acquisition finance segment. Chair of the Asia finance group, Andrew Bishop splits his time between Hong Kong and Singapore.

Practice head(s):

Timothy Hia


Other key lawyers:

Andrew Bishop


Key clients

The Adani Group


SATS


Ontario Teachers’ Pension Plan Board


Fullerton Healthcare Corporation


Warburg Pincus


Ola Netherlands


Adani Green Energy


Traveloka Holding


Searchlight Capital Partners


Credit Suisse (Singapore), DBS Bank and Standard Chartered Bank (Singapore)


United Test and Assembly Center


Work highlights


Milbank

Milbank continues to stand out for its experience in energy and infrastructure finance, along with being at the forefront of leveraged finance, particularly in financings of $1bn or more. Structured finance and bank/bond financings are additional strong areas for the Singapore team, which has successfully targeted the private credit segment in recent years. The firm is also noted for special situations and distressed transactions. Along with its broad range of financial institution clients, the team acts for a number of private equity sponsors and other investment funds, along with a series of corporate borrowers. On top of energy and infrastructure, key areas include retail, fintech, shipping and real estate. Indonesia, Malaysia, Vietnam and the Philippines are amongst its key jurisdictions. Singapore managing partner David Zemans is a hugely experienced and versatile practitioner with a rich history in banking and finance transactions, most notably in Indonesia. Jacqueline Chan is another outstanding practitioner and a growing force in private credit deals. James Murray and James Orme are also rated for energy and infrastructure financings.

Practice head(s):

David Zemans


Other key lawyers:

Jacqueline Chan; James Murray; James Orme


Key clients

DBS Bank Ltd


Adaro Energy


Medco Energy


PT Bank Mandiri


SMBC


MUFG


Asian Development Bank


ANZ Bank


Standard Chartered Bank


Amman Mineral


Maybank Islamic Berhad


CIMB Bank Islamic Bank Berhad


Export Import Bank of Malaysia Berhad


Work highlights


  • Represented a large syndicate of lenders in connection with the $860m refinancing of Kestrel Coal Resources’ existing facilities in Queensland, Australia.

Norton Rose Fulbright

Norton Rose Fulbright has an impressive record in trade and commodity finance, landing it an illustrious client list of regional and international banks, alternative financiers, commodity traders, export credit agencies and others. Acquisition and leveraged finance, asset finance, project finance and securitisation are also fortes for the Singapore team, which has a particularly extensive experience in Indonesia. Moreover, the firm is making a further impression in sustainability-linked loans. Qualified in Singapore, Hong Kong and England, Yu-En Ong heads the Singapore office and the structured lending and markets team. Janelene Chen left in January 2024.

Practice head(s):

Yu-En Ong


Testimonials

‘Very hands-on and responsive. Good value for the fees charged. Their bills often come in below their quotes – that rarely happens in my experience.’

‘Experienced banking and finance team.’

‘The NRF team has been nothing short of excellent – the people whom I work with are very approachable, collaborative and ensures that our legal / structuring queries are always attended to. The strong ability to turn around and agility to make things happen at short notice has always been impressive, to which has helped enable the Bank to better provide for our clients in turn.’

Key clients

ANZ


ABN AMRO


Barclays Bank


Citibank


Credit Suisse


DBS


Deutsche Bank


Frasers (Central House) Limited


Frasers Property Treasury Pte. Ltd


Hillington Park S.A R.L.


HSBC


ING Bank


Maybank


MUFG


Olam Agri Holdings


SMBC


UOB


Work highlights


White & Case Pte. Ltd.

White & Case Pte. Ltd. has an experienced senior bench, including partners that have been located in Singapore for over a decade. The team is noted for representing major institutional lenders, private equity sponsors, and corporates, and works closely with colleagues from around the Asia Pacific region. The group has extensive experience in acquisition and leveraged finance, fund financings and structured finance. In recent times, the team has remained especially active in sponsor-side financings, including debt facilities to support acquisitions. It also has wide-ranging geographic coverage from India to Indonesia. Alexander McMyn is a senior practitioner with a superb reputation, while Charles McConnell, who was promoted to international partner status in 2022, has emerged as a prominent figure in acquisition finance, fund finance and structured financings.

Practice head(s):

Alexander McMyn


Other key lawyers:

Charles McConnell


Testimonials

‘White & Case provides a high quality level of service in wide range of complex matters from acquisition financings to cross-border structured financings. They are proactive and have a deep knowledge of the market with good connectivity with industry players.’

‘Alexander McMyn and Charles McConnell are the go to partners in the region. Between them they have expertise across the major jurisdictions in South-East Asia including Vietnam, Indonesia and Singapore. They provide commercial advice and are detail orientated and are therefore able to navigate through complexity in a sensible manner.’

 

Key clients

Adani Enterprises


ANZ Bank


BDO Unibank


BNP Paribas


BYJU’S


Citigroup


Credit Suisse


Deutsche Bank


ING


Natixis


Work highlights


  • Advised Adani Enterprises on the terms of the credit enhancement facilities of up to $20bn to be provided by TotalEnergies to Adani New Industries in relation to a partnership between Adani and TotalEnergies to jointly create the world’s largest green hydrogen ecosystem.
  • Advised on a $300m capital call facility granted by Australia and New Zealand Banking Group to Macquarie Real Estate Partners as borrower for the purposes of bridging the financing of its investments and any other purposes permitted under the limited partnership agreement.
  • Advised the lenders in a term facility and a revolving credit facility amounting up to $790m granted to IBC Capital, Goodpack IBC (Singapore) and Goodpack Pte (a KKR portfolio company).

Ashurst LLP

Ashurst LLP has a well rounded banking and finance practice in Singapore and has achieved prominence in fund finance, acquisition and leveraged finance, real estate portfolio financings and fintech financings. The firm is particularly recognised for mid-market financings and has earned further market share in ESG and green fund finance. It advises an impressive range of lenders and borrowers. Jean Woo is the Singapore managing partner, leads the Singapore banking team and is a growing force in green loans and securitisations. Chin Chuan Chen leads the project finance practice in Greater China and has close links to Chinese banks and financial institutions. Alfred Ng is another experienced figure in project finance. Counsel Cara Stevens has transferred to the Melbourne office.

Practice head(s):

Jean Woo


Other key lawyers:

Chin Chuan Chen; Alfred Ng; Leonard Lim


Testimonials

‘The SG B&F team is competitive when it comes to pricing. Good industry knowledge in funds finance.’

‘Jean Woo is always client first and it is greatly appreciated.’

‘The Ashurst banking team led by Jean Woo is made up of intelligent, hardworking and talented lawyers. They are commercially minded and committed towards the transaction.’

Key clients

Australian and New Zealand Banking Group (ANZ)


Credit Suisse


Deutsche Bank


HSBC Bank


DBS Bank


Citibank


Indies Capital


Varde Capital


Victory Park Capital


United Overseas Bank (UOB)


Oversea-Chinese Banking Corporation, Limited (OCBC)


Investec Bank


Work highlights


Gibson Dunn

Gibson Dunn has a fine reputation in the banking and finance field, in part thanks to the presence of Jamie Thomas, who is co-chair of the global finance practice group. The firm is noted for acquisition financings, restructurings and distressed transactions; the firm has an outstanding position in restructurings, especially in Indonesia. It is also noted for direct lending, project finance, financings involving alternative capital providers and prepayment financings. The team is most active in the energy and infrastructure sectors, has a growing presence in fund financings and tech-related loans, and is increasingly active in the crypto space. The team represents a number of Indonesian borrowers and sponsors, special situations team and private equity houses. Of counsel U-Shaun Lim is another key member of the team.

Practice head(s):

Jamie Thomas


Other key lawyers:

U-Shaun Lim


Testimonials

‘This is a mid-sized team operating at the level of a much larger team, with the knowledge and experience to help us out of a tight spot when we need it.’

‘Partner Jamie Thomas leads the team with diplomacy and experience in South and South-east Asian transactions. Having spent many years leading transactions himself, he is now training the next generation of lawyers in his team to take on these matters, but will step in when needed. He is a reassuring presence on some of our more complex transactions.’

‘U-Shaun Lim in particular has working-level knowledge and experience across both lending and derivatives, which is an unusual but very useful combination.’

Work highlights


Herbert Smith Freehills LLP

Herbert Smith Freehills LLP has an established banking and finance practice in the mining, energy, natural resources and infrastructure sectors. The Singapore team has a particularly strong reputation for oil and gas financings, including reserve-based lending. It is known for its bank-side engagements, though has a broader client base of borrowers and private capital providers. The office is developing its standing in project finance, especially following the arrival of Rupert Baker in 2022; Baker is the former senior counsel and head of legal, project finance and energy, at SoftBank Group. Adrian Cheng is head of finance in Asia and is rated for his expertise in energy and natural resources financings, especially in Indonesia, Malaysia, Myanmar and Philippines.

Practice head(s):

Adrian Cheng


Other key lawyers:

Rupert Baker


Work highlights


Jones Day

Jones Day has a strong and stable senior bench in Singapore, which has a fine record in representing borrowers such as corporates, private equity houses and investment funds. It is also making an impression in the alternative lender space. Acquisition finance, syndicated lending, structured finance, trade finance, real estate finance, commodity finance and project finance are key areas of focus. Sustainability linked loans is a growing forte for the team. Sushma Jobanputra heads the Singapore office and is a prominent banking and finance specialist. Vinay Kurien is an emerging talent.

Practice head(s):

Sushma Jobanputra


Other key lawyers:

Vinay Kurien


Testimonials

‘Sushma Jobanputra is an exceptional lawyer who will go above and beyond for her clients. She asks incisive questions and is thorough in her output. She will not restrain her advice to what clients typically want to hear. She does not puff up what the firm can do well and is honest to refer work to other firms who she knows will better serve the interest of the client.’

‘The Jones Day team brings their significant global corporate M&A and banking expertise into their Indian practice. The Indian practice has veteran counsel who have worked and advised on Indian matters for over 15 years. The level of partner attention and knowledge of the nuances of the Indian legal landscape is of the highest calibre of international law firms. ’

‘ Vinay Kurien is the go-to person at the firm’s Singapore office along with the much reputed Sushma Jobanputra.’

‘Extremely commercial and creative advice for the most difficult problems. JD think holistically about the problem and provide more than just legal advice. They really help to find the optimal solution to the problem being faced by their clients.’

 

Key clients

UPL


Greystar Real Estate Partners


Citibank


Hyatt Hotels Corporation


Oxford Properties Group


Work highlights


King & Spalding LLP

King & Spalding LLP has a considerable market presence, in large part thanks to the standing of market leader Andrew Brereton. Although known for his record in bulge-bracket mainstream financings, such as acquisition and leveraged finance, term loans, and project finance, Brereton and his team have carved out a sizeable market share of private credit and special situations transactions. The team is also recognised for its expertise in sustainability-linked loans. Soumya Bhagavatula and U-Glen Lim are key associates.

Practice head(s):

Andrew Brereton


Other key lawyers:

Soumya Bhagavatula; U-Glen Lim


Testimonials

‘The K&S Singapore finance team has broad experience across all types of finance transactions (leverage, projects, structured) and bring this to bear when offering solutions. The K&S Singapore team offering is well connected globally and their ability to obtain know how/intel quickly from other markets and provide this to us with an Asia lens is second to none. ’

‘Andrew Brereton has a breadth of experience across all types of financings and his technical knowledge and ability to think outside the box is critical when negotiating deals. His advice is always concise and to the point. ’

‘The Banking + Finance team in Singapore provide outstanding support and are always on hand to assist us in getting deals over the line.’

Key clients

Star Energy Group Holdings


Pertamina Persero


PT Pertamina Hulu Indonesia


Korea Electric Power Corporation


Fulbright University Vietnam


Batavia Oil


Mitsui & Co


Keppel Capital Holdings


OCP Asia (Singapore)


Work highlights


  • Advised Korea Electric Power Corporation (KEPCO) on the simultaneous closing of its Energy Conversion Agreement, project and equity bridge financing and hedging in respect of the Jafurah Co-Generation in Saudi Arabia.
  • Advised OCP Asia (Singapore) on its $100m secured term loan facilities for Asia Digital Engineering, a Southeast Asia-based provider of aviation maintenance, overhaul and repair (MRO) services.
  • Advised Pertamina Persero in connection with its $1.4bn syndicated term loan facility which was syndicated to a large consortium of over 20 banks.

Morrison Foerster (Singapore)

Morrison Foerster (Singapore) is a burgeoning force in real estate finance, acquisition and leveraged finance and private equity financings. The firm is also making a further impression in subscription line financings and margin loans, along with sustainability-linked loans and ESG performance-linked financings. The Singapore team represents a mix of borrowers and lenders (including alternative lenders and credit funds). It frequently works alongside colleagues in Tokyo to advise Japanese senior and mezzanine lenders on auction bids by private equity sponsors. It also advises private equity sponsors across the region on fund and portfolio level financings. Yemi Tépé continues to earn accolades from the market, particularly in relation to acquisition and leveraged financings across the APAC region. Of counsel Hong Cheong Wong provides further senior level expertise and operates in both English and Mandarin languages. Charlyn Lim impresses at associate level.

Practice head(s):

Yemi Tépé


Other key lawyers:

Hong Cheong Wong; Charlyn Lim


Testimonials

‘Due to size of our group and the large number of financings that we undertake, it is crucial that our legal advisers maintain consistency of our key financing terms to enable smooth negotiations with counterparties, and efficient monitoring by us of compliance with those terms. Mofo has provided invaluable assistance to us in achieving these critical commercial and legal objectives, not least helping us to pinpoint and successfully negotiate the key financing terms that are most important to our business with most if not all major international banks in the market.’

‘We work consistently with Yemi Tepe, Hong Cheong Wong and Charlyn Lim. The team’s understanding of our business, combined with its substantive expertise and commercial approach, ensure that the advice and product that we receive is thoughtful, creative and tailored. Mofo fights for us to ensure that we get the maximum flexibility to operate our existing lines of business and achieve our strategic vision and plans for expansion.’

‘The Mofo Singapore team has been most helpful demonstrating their knowledge, experience and expertise across the Asia Region (Vietnam, Indonesia, and Malaysia). The team is able to proactively provide strategies and tactics on each transaction, with unique structure across multiple jurisdictions as mentioned. The team almost demonstrate resourcefulness, having relationships with local firms and ensure things are checked out in all angles.’

‘Partner: Yemi Tepe – I have been working with Yemi for almost five years and she continues to impress. She’s very solution oriented and leads a fantastic team. Associate: Charlyn Lim – Charlyn is very proactive and detail oriented. She thinks a few steps ahead to make sure we are legally well protected even in dire situations.’

‘The Mofo B&F team is a lean mean machine – they always get the job done, deliver on time with top quality – no matter how challenging the clients or the counterparties. ’

‘Yemi Tepe needs no introduction. She stays ahead of the curve in this constantly evolving industry and it is always a first choice for clients. She is great to work with and knows exactly what makes the deal tick.’

‘The team has impressive depth and breadth of expertise bringing with it an ability to handle complex transactions to challenging timetables. The team combines technical expertise with commercial savvy and excellent transaction management.’

‘Yemi Tepe is a very experienced lawyer with an excellent reputation in the market, particularly in leveraged finance. She is technically highly proficient and also very commercially-focussed and is consistently able to deliver solutions to meet client need. ’

Work highlights


Simmons & Simmons

Simmons & Simmons has a rich history in trade and commodities finance, and is a growing force in digital banking and fintech, and in funds finance. It has close links to regional and international lenders, including BNP Paribas, Societe Generale and HSBC. Angelia Chia joined the Singapore team in April 2023 from Mayer Brown to reinforce the department’s expertise in trade and supply chain finance. Calvin Tan leads the Singapore banking and finance team and is immensely experienced in structured lending, including commodities finance, fund finance and margin lending. Former Beijing-based partner Yongmei Cai is dual-qualified in England and the People's Republic of China (PRC), and is noted for China cross-border financings, including commodities transactions and foreign exchange regulatory issues.

Practice head(s):

Calvin Tan


Other key lawyers:

Angelia Chia; Yongmei Cai


Testimonials

‘The Simmons team in Singapore is well-known for its strengths and trade and non-recourse receivables financing. The team’s ability to provide incisive and clear advice on complex issues that arise from the international sale of receivables sets them apart from the competition. The team led by partner Calvin Tan is well-regarded by the market for being able to balance quality legal work and cost-effectiveness.’

‘Partner Calvin Tan is the maestro of composing and executing bespoke supply chain financing structures for discerning clients. He is commercially-minded and attentive, and most able in this field to deliver results under immense pressure.’

 

Work highlights


Hogan Lovells Lee & Lee

Hogan Lovells Lee & Lee has extensive experience in the consumer, agribusiness, real estate and digital banking sectors, as well as energy and renewables. The firm has seen further growth in sustainability and ESG-linked financings. It has close links to regional and international banks and development banks. Vietnam and Indonesia are key markets for the team. Kaveeta Sandhu was promoted to the partnership in January 2023 and has become head of the banking and loans group in Singapore. Samantha Campbell left the firm for an in-house position.

Practice head(s):

Kaveeta Sandhu


Testimonials

‘The B&F team appear to work seamlessly across different jurisdictions – this is very helpful as our deal team and booking point for the loan/transaction are typically across different jurisdictions too.’

‘Kaveeta Sandhu – technically sound and generous with her time by giving seminars and workshops. Makes an effort to stay in contact.’

 

Key clients

International Finance Corporation


Asian Development Bank


Westpac Banking Corporation


BNP Paribas


Coӧperatieve Rabobank


MUFG Bank


Australia and New Zealand Banking Corporation


PT Bank Negara Indonesia (Persero)


Standard Chartered Bank


Lendable SPC


Work highlights


  • Advised Lendable SPC on a secured loan of up to $10m to F88 Business JSC, the largest financial services chain in Vietnam.
  • Advised a bank club led by Westpac Banking Corporation as global coordinator and documentation agent on a $500m term facility granted to BOC Aviation (Ireland).
  • Advised the finance parties led by PT Bank Negara Indonesia (Persero) and PT Bank Central Asia  as mandated lead arrangers and bookrunners on a $190m and IDR1,901bn fully secured financing to the FKS Food & Agri Group, the largest and leading food and feed ingredients supplier in Indonesia and Southeast Asia.

King & Wood Mallesons

King & Wood Mallesons‘ Singapore banking and finance practice has a strong focus on project and infrastructure financings in Southeast Asia, often linked to China’s Belt and Road Initiative (BRI). The team is also gaining recognition for its work in green, social and sustainable financings. Fund finance, real estate finance, share backed financings, and trade and commodity finance are further elements of the practice. Thanks to the presence of John Shum, who previously practised in Hong Kong, London and New York, the team has developed close links to international banks (including Chinese lenders) and borrowers.

Practice head(s):

John Shum


Testimonials

‘Exceptional mainland China expertise. Ability to assist well with cross border transactions where there is a China element.’

‘John Shum – good deal lawyer. hard working and engaged.’

Key clients

China Minsheng Bank


Gaw Capital


8F Asset Management


Export Finance Australia


BGH Capital


Ramsay Health Care


Work highlights


  • Advised China Minsheng Bank on arranging a RMB1.07bn  syndicated revolving credit facility to Guangzhou Yue Xiu Financial Leasing Company.
  • Advised Gaw Capital on its HK$330m senior and mezzanine secured financing for Jumbo Fit International.
  • Advised 8F Asset Management, an asset manager focused on impact investing, on the project financing of a Recirculating Aquaculture System for the cultivation of Atlantic salmon in Mie, Japan.

Mayer Brown

Mayer Brown‘s banking and finance team has experienced some changes in recent years with lateral hires, departures and retirements. It remains prominent in Singapore, not least because of its sheer size in Asia, and the leading partners that are pushing its standing in fund finance, leveraged and acquisition finance, and general corporate lending. It continues to represent numerous regional and international banks and financial institutions. Doos Choi is an experienced banking and finance specialist with a focus on the Southeast Asia markets, along with Greater China, having recently relocated to Singapore from Hong Kong. Soumitro Mukerji has impressed in fund finance and subscription-line financings. Angelia Chia left in April 2023, while Janelene Chen joined from Norton Rose Fulbright in January 2024.

Practice head(s):

Doos Choi


Other key lawyers:

Soumitro Mukerji; Janelene Chen


Testimonials

‘Mayer Brown has established an impressive fund financing practice over the last two years in Singapore. Despite its relatively recent formation, the team has displayed strong knowledge of market developments across both traditional subscription facility as well as NAV / hybrid financing. Leveraging Mayer Brown’s franchise internationally, the team has proven to be well versed with the nuances and risks associated with complex fund structures across multiple jurisdictions. They have been most professional managing multiple legal assignments under tight timelines, and always provide sharp, detailed advisory with recommendation mitigations.’

‘Soumitro Mukerji – Lead Partner of the Singapore fund finance practice. Soumitro has quickly assembled a team of fund financing specialists who collectively displays the willingness to go the extra mile to ensure a deal is closed in a timely manner, and yet backed by robust fund due diligence and well-structured legal documentation. Despite his heavy travel schedule, he is always accessible to discuss concerns raised by clients and provide various approaches clients can manage the risks. He is also highly affable, often spending efforts to explain basic concepts to bankers who are new to fund financing.’

 

Work highlights


Reed Smith LLP

Reed Smith LLP has a fine global reputation for trade and commodities financings, which is replicated in Singapore, where the firm also has a presence in asset finance, fintech and project finance. The Singapore team represents a range of banks, multilaterals, alternative lenders, traders, funds and producers. It has an extensive record in prepayment financings, pre-export financings and borrowing base financings. It is also recognised for its experience with emerging markets in the Southeast Asia region. Omar Al-Ali is driving forward the Singapore office’s trade and commodities finance practice, having joined it in 2020. Simon Spells is a senior figure in aviation finance and Hui Ling Teo was promoted to the partnership in November 2022, having recently joined the firm from Milbank.

Practice head(s):

Omar Al-Ali


Work highlights


Shearman & Sterling LLP

Shearman & Sterling LLP remains best known for for financings and refinancings of large-scale projects throughout Asia Pacific. It is also noted for financings related to the acquisition of energy and infrastructure assets. Of counsel Bill McCormack is a big name in the market, having led major project financings from Asia over some 20 years. Counsel Claude Jiang is another key name for energy and infrastructure financings in the Asia Pacific region. Jean-Louis Neves Mandelli joined Ashurst LLP in May 2023.

Practice head(s):

Bill McCormack


Other key lawyers:

Claude Jiang


Testimonials

‘The team has extensive experience in the sector and country that I’m working on. It is very assuring to have such experienced legal counsels by the Sponsor/Financial Advisor side when navigating through the bankability issues for an unprecedented deal in a developing nation.’

‘With their collective knowledge and familiarity of the project documents, sponsors and financial advisors are able to have meaningful conversations at any point in time and decisions can be made swiftly.’

 

Key clients

International Finance Corporation


Banco do Brasil


Dito Telecommunity Corporation, Inc.


Credit Guarantee and Investment Facility


Asian Development Bank


Sumitomo Mitsui Banking Corporation


Work highlights


  • Advised IFC and its parallel lenders on the refinancing of the Asahan-1 hydropower project, Indonesia.
  • Advised the lenders in connection with the financing of the 216MW Upper Trishuli-1 Hydropower Project in Nepal.
  • Advised Dito Telecommunity as borrower on the financing of a multibillion-dollar telecommunications project in the Philippines.

Sidley Austin LLP

Sidley Austin LLP has built its standing in leveraged finance and general lending, following the arrival of Daniel Lindsey from Goodwin‘s Hong Kong office in July 2022. Lindsey has a background in representing private equity sponsors and private credit funds in leveraged and acquisition finance, growth capital financings, structured lending, fund-level financings and margin loans. His core team is now spread across the Hong Kong and Singapore offices. Former counsel Jeremy Chase moved to an in-house position in August 2022.

Practice head(s):

Angela Fontana; Leslie Plaskon; Daniel Lindsey


Testimonials

‘Standout team for private equity backed acquisitions. Great all-round platform across both their debt finance and M&A teams.’

‘Daniel Lindsey is a fantastic lawyer. He has worked at top tier firms and on the biggest deals in Asia on both lender and borrower/sponsor side and knows all the pressure points. He is an impressive negotiator and fantastic problem solver who has a knack for building consensus. He is able to guide parties to reach outcomes which protect his clients’ best interests in a calm and friendly way.’

 

Key clients

EdgePoint Infrastructure


R-Bridge Healthcare Fund


Ally Bridge Group


Work highlights


  • Represented EdgePoint Infrastructure (EdgePoint) on the debt financing for its initial investment in the Philippines market, in connection with a dual disposal by Smart and DMPI of a total of 5,907 telecom towers, representing the largest-ever acquisition of assets in the Philippines by international investors.
  • Advised R-Bridge Healthcare Fund on a $40m royalty-backed financing to Yisheng Biopharma.
  • Advised R-Bridge Healthcare Fund on a $120m hybrid financing granted by Natixis Corporate & Investment Banking through its Hong Kong branch.

Squire Patton Boggs

Squire Patton Boggs‘ Singapore office is another to have made an impression in trade and commodities finance, along with ship finance. The firm is now frequently engaged in structured trade financings, and pre-export, prepayment, receivables and limited recourse structures. The team is noted for representing banks, alternative lenders and traders. Jessica Kenworthy has extensive experience in trade and commodity finance. Kate Sherrard provides further expertise in maritime and offshore oil and gas financings, while Lian Yok Tan has brought additional project finance expertise to the group having joined the firm from K&L Gates Straits Law LLC in April 2023.

Practice head(s):

Jessica Kenworthy; Kate Sherrard


Other key lawyers:

Lian Yok Tan


Testimonials

‘Not only Kate Sherrard and her team are very good lawyers and available when required, working with them also provides a lot of fun. Proactiveness is key and especially the brainstorming on various contingency plans has been appreciated. Out-of-the-box thinking and a “yes we can” mentality is a key differentiator vs. other firms.’

‘Kate Sherrard has excellent negotiation tactics and is supported by dedicated team members to achieve optimal results.’

Key clients

BBVA


CBH


Mercantile & Marine


Vale International


Work highlights


  • Advised Seaspan Corporation on three separate ECA-backed Japanese Operating Lease with Call Options (JOLCOs).

Stephenson Harwood LLP

Stephenson Harwood LLP‘s primary strengths lie in the asset finance sphere and it has built further prominence in corporate loans in Singapore, Malaysia, Indonesia and India. The Singapore office’s heritage in asset finance has afforded the wider banking and finance team with a mighty regional and international bank client base. This has led to a range of engagements including sustainability and ESG-linked loans. Key markets include Singapore, India, Indonesia, Myanmar and Malaysia. Of particular note, the Singapore team advised the State Bank of India on a $1bn credit facility to the Government of Sri Lanka for the purposes of importing food, medicine, and other essential items. Gregory Xu has a fine reputation for ship finance and the broader banking and finance area.

Practice head(s):

Gregory Xu


Other key lawyers:

Pedram Norton; Jeffrey Tanner


Testimonials

‘Partner engagement is the defining factor for the team. It is very appreciated that we can reach out to partners and they have the depth of knowledge in both the market and the specific deal to be able to provide sound commercial advice.’

‘Pedram Norton is the partner that we worked with this year. He has shown the ability to provide commercial advice and possesses the depth of knowledge required to do so, given his years in the market. We appreciate the fact that he is engaged in the deal specifics.’

‘Gregory Xu is a very responsive, responsible, and commercially practical lawyer.’

‘Stephenson Harwood provides training to its clients and guides their clients through the facility agreement documentation process.’

Key clients

ABN AMRO Bank


AION Capital


Axis Bank


Bank of America


BNP Paribas


Credit Agricole


Credit Suisse


DMI Finance India


Golden Equator Private Capital


HDFC Bank


ICICI Bank


ING Bank


MUFG Bank


OCP Asia


Q&M Dental


Shanghai Pudong Development Bank


Standard Chartered Bank


TransAsia Private Capital Limited


ANZ Bank


Asian Development Bank


Axis Trustee Services Limited


Bank of Baroda


Bank of Communications


Bank of Singapore


BioNTech


Campana Group


Chailease International Financial Services


China Development Bank


China Minsheng Banking Corporation


CLSA Capital Partners


DBS Bank


GMR Coal Resources


HSBC Bank


Industrial Bank of Korea


Kookmin Bank


KPMG


Lembaga Pembiayaan Ekspor Indonesia (Indonesia Eximbank)


Mashreq Bank


National Australia Bank Limited


Nonghyup Bank


Nordea Bank


Suhyup Bank


State Bank of India


The Export-Import Bank of China


The Korea Development Bank


TIAA Bank


Work highlights


  • Advised the State Bank of India (SBI) on a $1bn credit facility to the Government of Sri Lanka for the purposes of importing food, medicine, and other essential items.
  • Advised a syndicate of lenders – comprising ABN AMRO Bank, ING Bank, TIAA FSB, and Clifford Capital – on a sustainability-linked loan.
  • Advised Taipei Fubon Commercial Bank and MUFG Bank on its $500m social loan to the State Bank of India for the financing of eligible social projects, in accordance with State Bank of India’s ESG financing framework and in alignment with the social loan principles.

Watson Farley & Williams LLP

Watson Farley & Williams LLP has built out its wide-ranging banking and finance practice from its foundations in asset finance. The Singapore office has deep expertise in maritime, transport, natural resources, and energy. It has close links to major banks, export credit agencies (ECAs), private equity sponsors, funds and intermediaries. Madeline Leong is hugely experienced.

Practice head(s):

Madeline Leong


Other key lawyers:

Richard Williams


Testimonials

‘Good geographic coverage, and strong across the board in terms of aviation and banking. ’

‘Richard Williams, newly made up partner is excellent. Calm, measured and client focussed. Knowledgeable and pragmatic. ’

‘WFW has an established reputation for its strength in tht banking and finance sector, its representation of its client’s interests, innovative transaction structuring and advisory and engagement with communication of market developments.’

‘Madeline Leong always provides the highest level of client representation, her advisory, structuring, and negotiations of finance facilities are the best in class and she sets the benchmark and standard for achieving the most beneficial outcome for her clients. Madeline Leong has secured WFW as the principal and preferred legal firm for our company.’

‘Quick response always in a timely manner.’

‘Always supportive especially in finding out practical solutions in negotiation with our clients.’

Key clients

ING Bank


Crédit Agricole Corporate and Investment Bank


Standard Chartered Bank


Oversea- Chinese Banking Corporation


Sumitomo Mitsui Banking Corporation


BNP Paribas


Hamburg Commercial Bank


Citibank


National Australia Bank Limited


Credit Suisse


Credit Agricole Corporate and Investment Bank


China Aircraft Leasing Group Holdings


Euler Hermes


Development Bank of Japan


Work highlights


  • Advised the lenders on the first ever sustainability linked ANPI supported JOLCO financing of one A350 aircraft leased to Air France.
  • Advised BNP Paribas on $1.17bn JOLCOs backed by Chinese ECA SINOSURE arranged for Seaspan Corporation.
  • Advised China Aircraft Leasing Company and the lessor entities in the operating leasing of  four 737-Max-8 aircraft to Virgin Australia Airlines.