Firms To Watch: Capital markets: equity and debt: foreign firms

With a strong focus on pre-IPO transactions and listings on the London Stock Exchange’s main board and Alternative Investment Market (AIM), Pinsent Masons MPillay is especially active advising Asian clients operating in the technology sector. Nicholas Hanna, who acts on all Southeast Asia-related capital markets transactions handled by the firm, and Mark Tan, who is admitted to practise in Singapore, England and Wales, and Australia, are the names to note in Singapore.

Capital markets: equity and debt: foreign firms in Singapore

Allen & Overy

Allen & Overy fields a ‘preeminent Singapore and Southeast Asia capital markets practice‘, which has a loyal following of key issuers, underwriters, and trustees and agents throughout the region. Covering the full array of debt and equity transactions, including Islamic financing products, the team is well placed to coordinate truly global mandates involving multiple jurisdictions, be it intra-ASEAN/South Asia or inbound and oubound deals involving these regions. Lately, the team has been particularly active advising sovereign issuers and large corporates in matters involving the APAC Sukuk market, first-of-their kind issuances, and some of the largest bond offerings and IPOs across several jurisdictions. Green, social and sustainability-linked bonds, SPAC transactions, Indian IPOs, and restructurings are other key areas of growth for the group. Aloysius Tan advises on a diverse range of fixed income and equity-linked capital market instruments, while Felipe Duque is a key contact for high-yield bonds, liability management transactions and sovereign issuances. Tim Beech leads advice to trustees on all aspects of debt issuances.

Practice head(s):

John Lee

Other key lawyers:

Alexander Stathopoulos; Aloysius Tan; Felipe Duque; Pallavi Gopinath Aney; Tim Beech


‘Preeminent Singapore and Southeast Asia capital markets practice. Very strong team led by Yin Mei Lock and Alexander Stathopoulos.’

‘Both Yin Mei Lock and Alexander Stathopoulos are very client-centric. Alexander is particularly hands-on and super responsive.’

‘Yin Mei Lock – deeply respected by regulators and industry figures. Very commercially minded as well.’

Key clients

Republic of Indonesia

Nativus Limited

Monde Nissin Corporation

Work highlights

  • Advised the Republic of Indonesia on its issue of €500m 1.300% bonds due 2034, the first-ever SDG eurobond by a sovereign in Asia, and $600m 2.150% bonds due 2031 and $650m 3.200% bonds due 2061, in a triple-tranche takedown from its SEC-registered shelf.
  • Advised the joint lead managers and joint bookrunners in connection with Industrial and Commercial Bank of China’s (ICBC) multi-branch issuance of green bonds.
  • Advised Monde Nissin Corporation (MNC) on its initial public offering of shares listed on the Philippine Stock Exchange.

Latham & Watkins LLP

With one of the leading capital markets teams based in Singapore, Latham & Watkins LLP acts for clients in jurisdictions across South and Southeast Asia, most notably India, Vietnam and Singapore. The group, which provides advice on the full gamut of debt and equity offerings, is the first choice for a number of corporate issuers, underwriters, placement agents and initial purchasers seeking advice on transformative capital markets transactions, including IPOs across South Asia, debt securities, and inaugural SPAC listings and de-SPAC transactions. The team has recently taken on a key role on several market-shaping IPOs in India, which emerged as one of the top equity capital markets destinations in 2021. Leading the practice, Sharon Lau has advised on significant first-of-their-kind capital markets offerings in Singapore and emerging economies like Vietnam. SPACS-related mandates, including business combinations involving Asian targets searching for US listings, are among her recent areas of focus. Rajiv Gupta, who oversees India-related work, stands out for his track record in the region’s most innovative capital markets transactions, including US IPOs out of India and high-yield bonds. Timothy Hia is the local chair of the firm’s finance department in Asia; debt capital markets work involving Singapore, Indonesia, Malaysia and the Philippines are key areas of expertise.

Practice head(s):

Sharon Lau

Other key lawyers:

Rajiv Gupta; Michael Sturrock; Timothy Hia; Min Yee Ng; Stacey Wong


Top law firm for regional capital markets’, Linklaters acts as the trusted advisor for leading international corporates, private equity funds and investment banks in their most challenging capital markets transactions in South and Southeast Asia. The Singapore-based team offers broad expertise covering high-yield bonds, investment grade debt, Islamic finance, as well as liability management transactions and equity products. On this front, the practice has handled several of the most significant IPOs for emerging Indian unicorns, and more recently, led advice on the largest IPO in India’s capital markets history. Amit Singh, who advises issuers and underwriters on the entire spectrum of debt and equity transactions, most notably those linked to India, leads the group, which is also singled out for its strong track record in innovative convertible bonds and high-yield issuances from India and across the region. Recently promoted partner Michele Discepola is another name to note for India-related work, especially high-yield transactions. Equity-linked deals and digital securities offerings are core areas of focus for Jonathan Horan, ‘a top lawyer when it comes to cutting-edge work’. Counsel Maree Quinn maintains a broad capital markets practice across Southeast Asia, Australia, Hong Kong and India, advising on liability management, debt and equity products, and regulatory capital and Phill Hall  also has international capital markets expertise.

Practice head(s):

Amit Singh

Other key lawyers:

Jonathan Horan; Michele Discepola; Phill Hall; Maree Quinn; Joseph Wolpin; Grace Wee


‘Top law firm for regional capital markets – first law firm that comes to mind for cross-border debt transactions. They continually impress with their client focus, commercial grasp and thought leadership in new areas such as digital assets and reference rate transition. Very capable leadership by Jonathan Horan as managing partner for Singapore – one of the top lawyers in the region.’

‘Jonathan Horan is truly a top lawyer when it comes to cutting-edge work. He shines most in innovative areas such as digital assets where he provides very clear advice in an ever-changing space. He is well-connected to all the key players in the growing digital industry.’

‘Maree Quinn, counsel, is an excellent lawyer who is client-centric, detailed-oriented and very responsive. She is one of the top lawyers for capital markets work, with best-in-class execution and client management skills.’

Key clients

ACME Solar Holdings Limited

Axis Bank Limited

Axis Capital Limited


J.P. Morgan Securities (Asia Pacific) Limited

CLSA India Limited

DBS Group Holdings Ltd

The Hongkong and Shanghai Banking Corporation Limited

JP Morgan India Private Limited

Citigroup Global Markets India Private Limited

National Highways Infra Trust

Bharti Airtel Limited

Ngern Tid Lor Company Limited

Nickel Mines Limited

Morgan Stanley India Company Private Limited

The Hongkong and Shanghai Banking Corporation Limited

Department of Finance of the Republic of the Philippines

Ministry of Finance, Government of Malaysia

The Hongkong and Shanghai Banking Corporation Limited

Work highlights

  • Advised ACME Solar Holdings Private Limited on the issuance of senior high-yield notes under Regulation S and Rule 144A using a Mauritius orphan special purpose vehicle, India Cleantech Energy.
  • Acted for Axis Bank Limited, Singapore Branch as dealer on a private placement of INR 7.39bn Series 2021-01. Masala Additional Tier 1 Notes due 2026 (the ‘Notes’), payable in US$ issued by HDFC Bank Limited, acting through its Registered Office in India (the ‘Issuer’) under the US$3bn Medium Term Note Programme established by the Issuer on 10 December 2020.

Clifford Chance

With a stellar reputation in the international capital markets space, Clifford Chance houses a ‘go-to team‘ in Singapore, which advises on all aspects of Singapore, US, English and Hong Kong law across a range of capital markets instruments. The team undertakes work across much of South and Southeast Asia, with recent highlights in jurisdictions such as Indonesia, the Philippines, Thailand and India. Reg S/144A bond transactions, liability management exercises (tender offers) and other US securities matters are key areas of expertise for the practice; co-head Johannes Juette, who is a US-qualified lawyer rated for his performance in both debt and equity transactions, is a name to note for these type of mandates. Fellow co-leader Gareth Deiner regularly attracts instructions from sovereign and corporate issuers, private equity sponsors, underwriters and real estate investment trusts (REITs) in relation to debt securities offerings, Islamic finance and regulatory capital matters, among other areas. The firm’s domestic capabilities are also noteworthy: Jean Thio, who often assists Chinese issuers listed on the New York Stock Exchange and Nasdaq in compliance and private placement issues, and counsel Ying Chiang Chong are key contacts for Singapore-related ECM and DCM transactions.

Other key lawyers:

Ying Chiang Chong


‘The team’s expertise is second to none. They understand their clients’ requirements; exceptional technical advice and commercially reasonable judgement. This is our go-to team.’

‘Spot-on advice and guidance, extensive experience and highly responsive, going above and beyond the requirements expected and as a side benefit, enjoyable to work with.’

‘I’d highlight Johannes Juettes and Gareth Deiner.’

‘Key attraction is top quality output, great execution, timeliness.’

‘Johannes Juette stands out for his super commercial knowledge and advice that takes into consideration business and commercial realities.’

‘Johannes Juette: reliable and effective US partner who is always willing to invest time in discussing issues and educating clients. Ying Chiang Chong: reliable, hardworking, accessible and efficient. Always goes the extra mile in trying to get to the root of the legal issues and to find commercial solutions (without compromising on legal risks).’

Key clients

Digital Realty

Cimory Group

PT Avia Avian

PT Archi Indonesia

Impact Investment Exchange (IIX)


Shriram Transport Finance Company

Singapore Airlines

Monde Nissin

Work highlights

  • Acted as international counsel to the banks (led by Citi, DBS and BoFA) on Digital Core REIT’s IPO on SGX Mainboard.


Milbank‘s capital markets team has a prominent presence in Southeast Asia, standing out for its impressive track record in debt transactions on behalf of banking clients and issuers throughout the region. The team has carved out a strong reputation in the high-yield bonds space, but is equally proficient in ECM deals, having recently worked on landmark issuances, including Indonesia’s first tech unicorn IPO, the largest Indonesian IPO to date (Bukalapak). Transactions with ties to Indonesia are in fact a key area of activity for the team, which has also seen a great influx of matters related to special purpose acquisition companies (SPACs). Department head Giles Kennedy, who is qualified in New York, England and New Zealand, is the main point of contact for banking clients and underwriters in relation to debt and equity offerings. Recent joiner Terrence O’Donnell has a wealth of experience in international capital markets offerings, including IPOs and share placements. Naomi Ishikawa retired in 2022.

Practice head(s):

Giles Kennedy

Other key lawyers:

Terrence O’Donnell; Andre Seah

Key clients

PT Bukalapak Tbk

PT Modernland Tbk

PT Bank Rakyat Indonesia (Perero) Tbk

PT Indofood CBP Sukses Makmur Tbk

PT ABM Investama Tbk

Credit Suisse (Singapore) Limited

Deutsche Bank AG, Singapore Branch

PT Summarecon Agung Tbk

PT Pakuwon Jati Tbk

PT Japfa Comfeed Indonesia Tbk

Delhi International Airport Limited


PT Dayamitra Telekomunikasi (Mitratel)

PT Gajah Tunggal Tbk

The Hongkong and Shanghai Banking Corporation Limited

Citigroup Global Markets Limited

Malayan Banking Berhad

Merrill Lynch (Singapore) Pte Ltd

MUFG Securities Asia Limited

Scotia Capital (USA) Inc.

MISC Berhad

Work highlights

  • Advised Bukalapak in connection with its US$1.5bn initial public offering listed on the Indonesia Stock Exchange – Indonesia’s largest IPO at the time.
  • Advised PT Modernland Tbk on the restructuring of US$150m 10.75% Guaranteed Senior Notes due 2021 and US$240m 6.95% Guaranteed Senior Notes due 2024.
  • Assisted PT Bank Rakyat Indonesia (Persero) Tbk in its approximately US$6.73bn rights issue comprising up to 28,213,191,604 new Series B common shares of par value Rp50 per share in connection with BRI’s ultra-micro business combination.

Shearman & Sterling LLP

Led by Andrew Schleider, Shearman & Sterling LLP‘s Singapore practice is engaged in sophisticated capital markets transactions throughout the APAC region, with a special emphasis on India, Indonesia and Thailand. The firm, whose experience in high-yield debt offerings exceeds three decades, handles a balanced workload which features investment grade debt deals, IPOs, follow-on equity offerings, convertible and other equity-linked products, and private placements.

Practice head(s):

Andrew Schleider

Other key lawyers:

Valerie Ching

Key clients


Credit Suisse

Deutsche Bank

GLP Pte Ltd

GMR Hyderabad International Airport Limited

Greenko Energy Holdings Limited


Mandiri Securities Pte. Ltd

Morgan Stanley

Standard Chartered Bank

Work highlights

  • Advised Greenko Energy Holdings and Greenko Power II Limited in connection with a US$1bn bond offering.
  • Advised the underwriters in connection with PT Dayamitra Telekomunikasi Tbk (Mitratel)’s US$1.3bn initial public offering.
  • Represented GLP Pte Ltd in connection with its US$580m green subordinated perpetual securities offering.

Sidley Austin LLP

Sidley Austin LLP houses a seasoned international capital markets team in Singapore which is recognised for its strong credentials in all types of security work, including IPOs, convertible bonds and high-yield offerings. The team acts for an impressive roster of underwriters and issuers in transactions across an array of sectors, ranging from energy to real estate, tech, telecoms and healthcare, and jurisdictions such as India, Singapore and Indonesia, just to name a few. Matthew Sheridan is highly regarded in the Asian high-yield debt capital markets space. He oversees the practice with Manoj Bhargava, who handles an impressive volume of equity and debt offerings, with a special emphasis on India-related deals. The newly promoted Alexius Chong, who has practised in Hong Kong and London, has deep ties to Singapore and the Southeast Asian region. English-qualified counsel Shashwat Tewary recently joined from Clifford Chance, bringing impressive experience in capital markets transactions across APAC, including India, Indonesia and Malaysia.

Other key lawyers:

Alexius Chong; Shashwat Tewary

Key clients

Axis Capital Limited

BOB Capital Markets Limited

BofA Securities India Limited

Citigroup Global Markets India Private Limited

ICICI Securities Limited

IIFL Securities Limited

J.P. Morgan India Private Limited

JM Financial Limited NoKotak Mahindra Capital Company Limited

Yes Securities (India) Limited

PT Adhi Commuter Property

Singapore Technologies Engineering Ltd.

Work highlights

  • Acted as US counsel to Kotak Mahindra Capital Company Limited, BofA Securities India Limited, and J.P. Morgan India Private Limited in connection with the US$550m qualified institutions placement of Macrotech Developers Limited (formerly known as Lodha Developers).
  • Acted as international counsel to the underwriters in connection with the US$715m initial public offering of equity shares of FSN E-Commerce Ventures Limited (Nykaa).
  • Acted as international counsel to the underwriters in connection with the US$520m initial public offering of equity shares of Chemplast Sanmar Limited (CSL).

White & Case Pte. Ltd.

White & Case Pte. Ltd.‘s strong position in the global capital markets space ensured that it was involved in some of the largest debt and equity transactions to recently hit the South and Southeast Asian market. Testament to this are the team’s latest engagements, including the biggest IPO on Indonesia’s stock exchange history; one of the first listings of a SPAC in Singapore; and the largest green sukuk tranche ever printed globally, among other impressive highlights. Covering both underwriting and issuer instructions on equity IPOs, secondary deals and debt offerings (including high yield and sovereign debt), the team has recently expanded into other areas, including SPAC IPOs and ongoing de-SPAC business combination transactions. Practice head Kaya Proudian is highly regarded for her wealth of experience in assisting corporate, investment banking, private equity and sovereign issuer clients in Asia. Rahul Guptan, who joined from Clifford Chance in May 2021, has more than 20 years’ experience advising underwriters and issuers on equity and debt capital markets offerings pursuant to Rule 144A and Regulation S, and is particularly noted for his capabilities in India-related work. Associate Stephanie Zhao is proficient in equity and debt offerings, as well as equity-linked securities, including Hong Kong and Singapore IPOs. Hendy Handoko is no longer at the firm.

Practice head(s):

Kaya Proudian

Other key lawyers:

Rahul Guptan; Stephanie Zhao; Rachna Talati


‘They have excellent knowledge and experience in IPOs that are to be marketed in the US (Reg S & Rule 144A).’

‘They devote quality time and are extremely responsive and cooperative. The partner level attention is superb and they are among the best at what they do. They have gone above and beyond their standard remit to help the banks/company resolve issues using their experience and good offices even if that has meant midnight calls on weekends!’

Key clients

Apax India

Axis Capital

BofA Securities India Limited

The Carlyle Group

CIMB Investment Bank Berhad

Citigroup Global Markets Inc.

CLSA Limited

Credit Suisse

ICICI Securities Limited

International Finance Corporation

Jeffries India Private Limited

JM Financial Limited

JP Morgan India Private Limited

Kotak Mahindra Capital Company Limited

Merrill Lynch (Singapore) Pte. Ltd.

Morgan Stanley India Private Limited

Nomura Holdings, Inc.

Oversea-Chinese Banking Corporation Limited

PT Avia Avian

PT Mandiri Sekuritas


UOB Kay Hian Private Limited


Work highlights

  • Advised the joint global coordinators, international selling agents and joint lead managing underwriters in the US$1.5bn IPO of PT Tbk, the biggest IPO in Indonesia’s stock exchange history.
  • Advised the international and domestic joint global coordinators in the approximately Rp. 95.92tn (US$6.7bn) rights issue by PT Bank Rakyat Indonesia (Persero) Tbk., an Indonesian state-owned enterprise.
  • Advised the joint bookrunners and underwriters in the IPO of Pegasus Asia, a SPAC on the Singapore Exchange Securities Trading Limited, which is one of the first SPACs to be listed in Singapore and the first SGX SPAC IPO backed by international sponsors and the first Rule 144A SGX SPAC IPO.

Baker McKenzie Wong & Leow

Issuers, underwriters, shareholders and strategic investors across the Asia Pacific region turn to Baker McKenzie Wong & Leow for assistance in the full gamut of debt and equity capital markets transactions. The Singapore team provides a one-stop shop for clients with direct access to US, European and Asian debt capital markets, and is particularly well placed to advise on liability management transactions, investment grade and high-yield bonds. On the ECM front, Singapore practitioners are proficient in capital raisings across the region, including initial and follow-on public offerings; SPAC and de-SPAC transactions are key areas of growth for the team, which recently advised on the first SPAC listing in Singapore. Ashok Lalwani, who is best known for his experience in India-related deals, oversees the team that also features Kenny Kwan, a contact for issuers and underwriters seeking advice on Singapore, Indonesia and Malaysia capital markets transactions, as well as US-registered and Rule 144A/Regulation S offerings. Thomas Tarala‘s arrival from Hogan Lovells Lee & Lee in March 2022 further reinforced the team’s ECM and DCM capabilities. Xavier Amadei is no longer at the firm.

Practice head(s):

Ashok Lalwani

Other key lawyers:

Kenny Kwan; Caryn Ng

Key clients

Credit Suisse

J.P. Morgan

Maybank/Maybank Kim Eng


Afterpay Limited


PT Indofood Suskses

EDP Renováveis, S.A.



Muang Thai Life Assurance Public Company Limited

PT Bank Negara Indonesia (Persero) Tbk

Morgan Stanley

Siam Cement Public Company Limited

Singapore Paincare Holdings Pte. Ltd.

Westwood Group Holdings Limited


Bank of China (Hong Kong)

Bell Potter Securities Limited

BOC International

CMB Wing Lung Bank Limited

Guotai Junan International


Jain Irrigation Systems Limited

Keppel DC REIT

ICBC (Asia)

Work highlights

  • Acted as special US counsel to the joint global coordinators, joint bookrunners and joint underwriters (Credit Suisse (Singapore) Ltd., DBS Bank Ltd. and Morgan Stanley Asia (Singapore) Pte) of Vertex Technology Acquisition Corporation Ltd., a special purpose acquisition company which listed on the main board of the SGX-ST through a SGD200m offering.
  • Acted as international and Indonesian counsel to the joint lead managers and joint bookrunners (Deutsche Bank AG, Singapore Branch, UBS AG Singapore Branch, BNI Securities Pte. Ltd., DBS Bank Ltd., Mandiri Securities Pte., Ltd., Mizuho Securities (Singapore) Pte. Ltd., Natixis Singapore Branch, Overseas-Chinese Banking Corporation and SMBC Nikko Securities (Hong Kong) Limited) in connection with the proposed US dollar bond issuance by PT Indofood CBP Sukses Makmur Tbk amounting to $1bn, respectively.
  • Acted for EDP Renováveis, S.A. on the acquisition of a 91% stake in Sunseap Group.

DLA Piper

DLA Piper is the first port of call for clients in the oil and gas, petrochemical, manufacturing and technology sectors seeking advice on high-value, cross-border capital markets deals taking place across Southeast Asia and beyond. The practice, which has recently experienced some growth at the associate level and brings together US-qualified individuals, has developed a niche in high-yield bond offerings, where it acts for underwriters and issuers. It also stands out for its regulatory knowledge of cryptocurrencies, initial coin offerings and digital securities. The team is under the joint leadership of two practitioners: Joe Bauerschmidt, who has been particularly active in SPAC transactions from Asia, and is singled out for his high yield background; and English and New York-qualified capital markets specialist Philip Lee, who is regarded for his experience in transactions with a nexus to Indonesia and India.

Practice head(s):

Joe Bauerschmidt; Philip Lee

Other key lawyers:

Mei Sum Chan


‘Responsive, pragmatic advice on reasonable costs.’

‘Philip Lee has guided us through a number of delicate transactions with a deft hand, holding his own when up against firms/partners of more fearsome reputations.’

‘DLA Singapore has a large number of offices worldwide and it makes them lead counsel with a wide international transactional reach. A one stop shop!’

‘Philip Lee impressed with his commercial handling of files with a sound grasp of legal principles working across the nuances of various different legal jurisdictions.’

Key clients

HCL Technologies Limited

MUFG Securities

ZIP Co Limited

PT Widodo Makmur Perkasa

PT Asia Vision Network


Axis Capital Limited

Cogent E-services Limited

Mandiri Securities

Haitong Securities

Asianet Satellite Communications Limited

Hydoo International Holding

Geophysical Sub-Strata

Seeing Machines

UnionBank of the Philippines

Work highlights

  • Advised ZIP Co Limited on its US$400m convertible bonds listed on the Singapore Stock Exchange. |
  • Advised HCL Technologies Limited, a global IT services company, in its inaugural US$500m Rule 144A/Reg S bond offering by its wholly owned subsidiary, HCL America Inc – the highest rated deal ever to come to the international capital markets from India.
  • Represented PT Widodo Makmur Perkasa, the holding company of Widodo Makmur Group, on its IPO of up to US$200m.

Hogan Lovells Lee & Lee

At Hogan Lovells Lee & Lee, the integrated US securities, equity and debt capital markets-focused practice benefits from significant on-the-ground experience gained by English, US and Singapore-qualified lawyers in the APAC region. The team has been attracting a growing roster of leading Indian clients and international banks, and increasing demand in capital markets transactions with ties to India, in part as a result of the recent arrival of Biswajit Chatterjee from Squire Patton Boggs in July 2021. Besides ECM deals in India, the team also fields specialist knowledge of the Australian international bond market, and restructuring of defaulted bonds in Indonesia, China and Singapore. In addition, the group is well-known for its work in the convertible bond space, sustainable finance and trustee-related matters. Co-head Andy Ferris advises on debt and equity-linked instruments, with a particular focus on sustainable and social impact finance.

Other key lawyers:

Kaustubh George


‘Hogan Lovells Lee & Lee provides professional service with the best in class legal advisors and partners. They have strong industry experience, diligent and empathetic associates, great understanding of the nuances of new age technology companies and it is always great to collaborate with them in getting work done with strict timelines.’

‘Biswajit Chatterjee (partner) – always there for his clients; very thoughtful advice, deep experience in capital markets and shows remarkable flexibility where it is necessary for their client’s best interests. Biswa is great at finding solutions and approaches to the most complex of legal issues.’

‘Kaustubh George – very diligent associate who is available all the time to serve the client’s interest. He has great understanding of new age tech firms and is extremely collaborative in his approach. He spends a lot of time to understand the client’s business.’

Key clients

Afterpay Limited

New Hope Group

AMA Group

Ausgrid Finance Pty Limited

Flight Centre Travel Group

BNP Paribas

BOC Aviation Limited

RHB Bank Berhad


Citicorp International Limited

BofA Securities India Limited

Credit Suisse Securities (India) Private Limited

HSBC Securities and Capital Markets (India) Private Limited

Nomura Financial Advisory and Securities (India) Private Limited

Jefferies India Private Limited

CLSA India Private Limited

Axis Capital Limited

DAM Capital Advisors Limited

Edelweiss Financial Services Limited

Equirus Capital Private Limited

ICICI Securities Limited

IIFL Securities Limited

Intensive Fiscal Services Private Limited

JM Financial Limited

Kotak Mahindra Capital Company Limited

SBI Capital Markets Limited

YES Securities (India) Limited

Work highlights

  • Advised Afterpay Limited, as English law counsel, on its A$1.5bn unsecured zero coupon convertible notes due 2026.
  • Advised International Finance Corporation (IFC) on its investment in AYC Finance Limited, a foreign subsidiary of Ayala Corporation (Ayala), through its subscription of a US$100m ten-year social bond issued by AYC Finance Limited and guaranteed by Ayala.
  • Advised the Underwriters, Axis Capital Limited, ICICI Securities Limited, and Haitong Securities India Private Limited on the US$110m Rule 144A/Reg S IPO by Latent View Analytics Limited.