Capital markets: structured finance, derivatives and securitisation: Local firms in Singapore

Allen & Gledhill LLP

Allen & Gledhill LLP has an established presence in structured finance, derivatives and securitisation. The firm is a leader in OTC derivatives, covered bonds, infrastructure capital and cashflow securitisations. Francis Mok is co-head of the financial services group and is a prominent name in the derivatives field. Yeo Wico is an experienced capital markets specialist with a fine record in structured finance, securitisation and Islamic products. Evan Lam is noted for derivatives, securitisations and covered bond programmes. Margaret Chin and Magdalene Leong are also key team members.

Practice head(s):

Margaret Chin; Francis Mok; Yeo Wico

Testimonials

‘Ms Tan Tze Gay – excellent in availability, client communication and market knowledge.’

Work highlights

  • Advised Astrea IV on the $501m issuance of asset-backed securities; these were the first retail bonds in Singapore backed by cash flows from private equity funds.
  • Advised Bayfront Infrastructure Capital and Clifford Capital on the issue of four classes of notes backed by cash flows from a portfolio of project and infrastructure loans in Asia-Pacific and the Middle East.
  • Provided Singapore opinion counsel to ISDA on the preparation of industry opinions which consider issues concerning enforceability of netting and collateral rights under ISDA’s standard documentation.

Rajah & Tann Singapore LLP

Rajah & Tann Singapore LLP is an established player in derivatives and structured products, including listed and unlisted derivatives, and both exchange-traded derivatives and OTC derivatives. The team is well-entrenched into the regulatory field and has an impressive record in representing banks and financial institutions, corporates, clearing houses and exchanges. Regina Liew leads the financial institutions group and has extensive derivatives experience.

Practice head(s):

Regina Liew; Larry Lim

Key clients

Singapore Telecommunications

Asia Pacific Exchange

Lu International (Singapore) Financial Asset Exchange

Work highlights

  • Advised Singapore Telecommunications on regulatory issues in Singapore, Philippines, Thailand, and Indonesia connected to its cross-border payments system that will allow users of an e-wallet provider in their home country to make payments in foreign countries by way of a central transaction switching and financial clearing house entity in Singapore.
  • Advised Asia Pacific Exchange and Asia Pacific Clear on the development of inter-connected trading and clearing procedures and policies from a financial, technological and regulatory perspective to ensure an orderly, safe and efficient electronic trading platform and electronic clearing platform.
  • Advised Lu International (Singapore) Financial Asset Exchange on the establishment of the international investment platform operated by the Singapore subsidiary of the Lufax Group, which runs the world’s largest retail digital wealth manager.

WongPartnership LLP

WongPartnership LLP has demonstrated a longterm commitment to this sector, covering both regulatory and transactional elements. It has a strong focus on OTC derivatives, synthetic products and structured products, and is at the forefront of a reawakening securitisation sector. Moreover, it is closely aligned with Singapore's burgeoning fintech sector. Rosabel Ng heads the derivatives and structured products practice, having fine credentials in the regulatory field. Hui Choon Yuen heads the DCM practice and is noted for securitisation expertise.

Practice head(s):

Rosabel Ng

Key clients

China CITIC Bank

City Developments

Clearstream Banking

OCBC Bank

SG Securities

Temasek

UBS