Next Generation Partners

Firms To Watch: Capital markets: structured finance, derivatives and securitisation: Local firms

Ashurst LLP‘s local practice was kickstarted in July 2020 by the arrival of Evan Lam from Allen & Gledhill LLP, and looks to focus on the OTC derivatives space combining transactional and regulatory expertise.

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

Allen & Gledhill LLP

Allen & Gledhill LLP is most known for its over the counter and exchange-traded derivatives work, bringing together solid expertise in capital markets, regulatory compliance, tax and insolvency. The firm is also appointed by the International Swaps and Derivatives Association and the Securities Industry and Financial Markets Association as a Singapore opinion counsel. Margaret Chin, head of the debt capital markets team, is an expert in asset securitisations; co-head of the financial services and financial regulatory compliance practices Francis Mok is another core team member with experience across securities and derivatives; Yeo Wico also regularly handles securitisations. Magdalene Leong‘s practice focuses on the intersection between Islamic finance and securitisations. In July 2020, Evan Lam departed for Ashurst LLP.

Other key lawyers:

Magdalene Leong; Jeanne Ong

Key clients

Astrea VI Pte. Ltd. (“Astrea VI”)

Autoriti Monetari Brunei Darussalam (“AMBD”)

Work highlights

  • Advised Astrea VI, as transaction counsel, on the issue of S$382 million Class A-1 secured fixed rate bonds due 2031, US$228 million Class A-2 secured fixed rate bonds due 2031, and US$130 million Class B secured fixed rate bonds due 2031 (collectively, the “Bonds”). The Bonds are backed by cash flows from a diversified portfolio of 35 private equity funds with a net asset value of US$1.456 billion, managed by 28 general partners.
  • Advised Al-Munawwarah Sdn. Bhd., a wholly-owned subsidiary of AMBD, on a structured finance deal involving the establishment of a B$100 million I-Bills issuance programme (“Programme”) pursuant to which it may issue Islamic bills from time to time based on the sukuk al-wakalah structure.

Rajah & Tann Singapore LLP

Rajah & Tann Singapore LLP brings together banking and finance and financial institutional regulatory experts to take on transactions involving listed and unlisted derivatives and financial products. The group is known for its regulatory prowess and its ability to handle novel issues, such as blockchain-related products. Jointly taking the lead are Regina Liew , head of the financial institutions group and expert in financial services laws and regulations; and Larry Lim  who is increasingly active in the fintech and digital currencies space. Benjamin Liew is recommended for his regulatory and licensing expertise.

Practice head(s):

Regina Liew; Larry Lim

Other key lawyers:

David Yeow; Xin Mei Lee; Benjamin Liew; Cheryl Tan

WongPartnership LLP

WongPartnership LLP‘s ‘experienced and friendly‘ derivatives and structured products lawyers are well versed in OTC derivatives across the waterfront of asset classes, in addition to synthetic products, retail structured products and structured finance transactions. The group is also noted for its expertise in ISDA documentation. Financial regulatory specialist Rosabel Ng takes the lead, and has experience in high-value asset-backed securitisations. Sion Yoong Tian is known for derivatives transactions.

Practice head(s):

Rosabel Ng

Other key lawyers:

Sion Yoong Tian

Testimonials

Experienced and friendly team, always accessible and responsive.’

Creative in problem-solving.’

Key clients

China ZhenHua Oil Co., Ltd.

City Developments Limited

CIMB Bank

Clearstream Banking S.A.

China CITIC Bank

Credit Suisse

DBS

Oversea-Chinese Banking Corporation Limited

Rio Tinto group companies (including Rio Tinto Commercial Pte. Ltd. and Rio Tinto Finance plc)

SG Securities (Singapore) Pte. Ltd.

Société Générale S.A.

The Australia and New Zealand Banking Group Limited (ANZ)

Temasek Holdings

UBS AG

UOB Bank