Milbank > Singapore, Singapore > Firm Profile

Milbank
12 MARINA BOULEVARD
MARINA BAY FINANCIAL CENTRE #36-03, TOWER 3
SINGAPORE 018982
Singapore

Singapore > Corporate and M&A: foreign firms Tier 1

Milbank is well-placed to support on an array of domestic and regional transactions, fielding dedicated offices in Singapore, Seoul, Tokyo and Hong Kong. Its offering is co-led by managing partner, David Zemans, who has worked locally for over 25 years and is considerably active on the cross-border front, particularly in respect of transactions relating to Indonesia, China and Europe. Jacqueline Chan leads the team jointly with Zemans and is likewise a standout name within the market, namely for her corporate finance, M&A and restructuring know-how. Associate Min Kim provides an in-depth knowledge of the technology, telecoms, food and beverage, healthcare and financial services sectors with the wider team also well-versed in oil and gas, energy, property, e-commerce and consumer retail.

Practice head(s):

David Zemans; Jacqueline Chan

Other key lawyers:

Testimonials

‘Jacqueline Chan is well-positioned to advise clients on complex M&A matters. She is sharp, commercially driven, and can put together the right resources within the firm to deliver the outcome.’

‘The team is fast turnaround and amazing attention to commercial points as well as complete follow-up on all issues, with a very proactive approach. Milbank is undoubtedly among the best firms in the world and you would be amazed by what they could offer and bring in to the deals.’

‘Jacqueline Chan and her associate team are absolutely pleasant lawyers to work with. They are very experienced and knowledgeable.’

‘Milbank, through the leadership of Ms. Jacqueline Chan, was very professional in their engagement with the Bank that I work with when we had our M&A exercise last year. They posses the expertise and the discipline required for the transaction. The team exhibited expertise in the corporate laws of both the Philippines and the U.S., the organizational and structural procedures in conducting due diligence, and the strategy for the preparation of bids and offers.’

‘All the members of the team are very pleasant to work with. I learned a lot from the Milbank team. They know how to take care of their client, us.’

‘Worked with Jacqueline Chan who provided excellent advise and were responsive and commercial.’

‘The team was responsive and commercial’

‘Jacqueline Chan was very hands-on which is hard to find given her level. Stephanie was always there and understood what we wanted right away.’

Key clients

PTT Public Company Limited

Atlantic Gulf & Pacific Group

Columbia Pacific Management, Inc.

Masan Group Corporation

Emergent Logistics Pte. Ltd.

WatchBanQ Group

PT Supreme Energy

Tiga Investments Pte Ltd

Work highlights

  • Advised the Atlantic Gulf & Pacific Group, one of Asia’s leading downstream gas and LNG logistics businesses, in relation to I Squared Capital’s equity investment of up to US$300m in its AG&P City Gas venture.

Singapore > Projects: foreign firms Tier 1

Milbank excels in the projects space with project finance and development work in South East Asia such as transport infrastructure, metals and other industries, including renewables and oil & gas. James Murray heads the practice and acts for leading financial institutions, multilaterals and export credit agencies. James Orme has extensive experience in cross-border project financings. Associates Andrew Gibb and Rosaline Yusman are rising project finance practitioners with experience acting for lenders and borrowers.

Practice head(s):

James Murray

Testimonials

‘Current and in-depth knowledge of the project finance market. A strong team with great team work. A pro-active, solution orientated approach that addresses bankability requirements whilst keeping to timelines.’

‘James is a great team leader and really drives deals towards meeting deadlines. He has a commercial approach grounded in an in-depth knowledge of the market.’

‘Andrew and Ros ably support and lead well on particular tasks in projects.’

‘The team delivers a polished legal service that is hard to match. They seem particularly adept at building good negotiation strategies when dealing with difficult counterparties.’

‘Justen Fleming is very experienced and provides an excellent service to his clients. His talent is distilling complex issues into straight-forward explanations which greatly assists the negotiation process.’

‘The Projects team is able to utilise their vast experience and industry knowledge to assist clients not just legally but in the commercial and structuring aspects of the transaction. The collaboration with local law firms, gives Milbank a competitive edge in providing the most comprehensive one stop shop international and local law advisory.’

‘James Murray, Andrew Gibb and Rosaline Yusman are unparalleled subject matter experts in the field of Indonesian power projects.’

‘They are all group of smart people and they understand what the client wants. They are easy to work with, and they treat us like a friend. this makes us more relaxed when discussing our issue with them.’

Key clients

JBIC

NEXI

ADB

KEXIM

K-Sure

AIIB

PT Supreme Energy

The Amman Group

PT Adaro Energy Tbk

Yinson Boronia Production B.V.

Sumitomo Corporation

Medco

Shandong Electric Power Construction

MUFG

GNPower

International Finance Corporation

SMBC

Work highlights

  • Advised Yinson Holdings Berhad of Malaysia and Sumitomo Corporation of Japan as Sponsors in connection with the development and financing of the Marlim 2 FPSO.
  • Advised PT Medco Daya Energi Sentosa in connection with the financing of certain interests in PT Paiton Energy (“Paiton”) and its affiliates.
  • Represented PT Supreme Energy in connection with the partial divestment of equity interests in PT Supreme Energy Sumatera to INPEX Geothermal, Ltd.

Singapore > Restructuring and insolvency: foreign firms Tier 1

Milbank‘s Singapore team  has a long track record in the restructuring space and is known for its international expertise in engagements that fall under Singapore’s new bankruptcy laws. It advises a range of banks, companies and bondholders in headline restructurings, especially bond restructurings, and is widely recognised for its regional expertise, including matters in Indonesia, Malaysia and China. David Zemans and Jacqueline Chan are highly rated practitioners that cover a range of practice areas.

Practice head(s):

David Zemans

Other key lawyers:

Jacqueline Chan; Giles Kennedy

Testimonials

‘Broad practice capabilities including banking, capital markets, M&A and restructuring that are critical to a restructuring practice.’

Key clients

PT Modernland Realty Tbk

GCL New Energy Holdings Limited

BlackRock

Goldman Sachs

Tor Investment

Maybank Islamic Berhad

CIMB Islamic Bank Berhad

DBS Bank Ltd.

PT Bank Mandiri (Persero) Tbk.

Sumitomo Mitsui Banking Corporation

PT Indomarco Prismatama (Indomaret)

Work highlights

  • Advised PT Modernland in connection with the restructuring of $150m 10.75% Guaranteed Senior Notes due 2021 and $240m 6.95% Guaranteed Senior Notes due 2024.
  • Advised GCL New Energy Holdings in the restructuring of its outstanding $500m 7.1% senior notes due 2021.
  • Advised an ad hoc committee of bondholders of Pearl Holding III’s 9.50% Senior Secured Notes due 2022, on all aspects of the restructuring support agreement.

Singapore > Banking and finance: foreign firms Tier 2

Advising a balanced mix of sponsors and lenders, the Singapore-based banking and finance team at Milbank is noted for its aptitude at assisting an impressive roster of financial institutions, private equity investors, hedge funds and export credit agencies across a range of finance products. Acquisition finance (especially leveraged transactions) is at the core of the practice, which is also seasoned in structured finance, private credit funding, project finance and restructurings. The team, whose track record features lending deals in the retail, shipping, energy, real estate, infrastructure and fintech spaces, also has a particular sweet-spot advising on financings featuring distressed assets. David Zemans, who is the managing partner of the Singapore office, acts for many commercial lenders, including alternative finance sources, in bank lending, private debt and other types of leverage finance. Jacqueline Chan is another contact for traditional banks and non-bank lenders, especially in matters involving Vietnam, Indonesia and Malaysia. Event-driven financings are a notable area of practice for James Orme, who frequently advises on lending related to large-scale energy and infrastructure projects.

Practice head(s):

David Zemans

Other key lawyers:

Testimonials

‘Very competent people who are focused on providing advice or solutions taking into consideration what the the client is looking for.’

‘David Zemans – most approachable lawyer in the region. He is amazing and can be very hands on when required. Always caters to requirements for specific resources or best resources for the situation.’

‘James Murry – One of the best lawyer in the region who can articulate well for the client, prepares thoroughly and puts forward arguments in the most intelligible manner.’

Key clients

DBS Bank Ltd

Adaro Energy

Medco Energy

PT Bank Mandiri

SMBC

MUFG

Asia 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

  • Advised PT Amman Mineral Nusa Tenggara, as borrower, in connection with the amendment and restatement of a US$1.75bn term loan facility to accommodate PT Amman Mineral Nusa Tenggara’s expansion activities associated with its Batu Hijau copper and gold mine.

Singapore > Capital markets: equity and debt: foreign firms Tier 2

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):

Other key lawyers:

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

PETRONAS

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.

Singapore > Energy: foreign firms Tier 2

While oil and gas projects formerly constituted the lion’s share of Milbank‘s workload, in recent years the practice has been involved in an increasing volume of renewable energy matters across the region. Recent noteworthy projects have seen the team advising the lenders in connection with the financing of the 240MW Sorik Marapi geothermal project in Indonesia. Practice head James Murray regularly acts for financial institutions, development multilaterals, and export credit agencies, while James Orme is recommended for his experience in high-value, cross-border project financings.

Practice head(s):

James Murray

Other key lawyers:

James Orme; Andrew Gibb

Testimonials

‘Current and in-depth knowledge of the project finance market. A strong team with great team work. A proactive, solution orientated approach that addresses bankability requirements whilst keeping to timelines.’

‘James is a great team leader and really drives deals towards meeting deadlines. He has a commercial approach grounded in an in-depth knowledge of the market.’

‘The team delivers a polished legal service that is hard to match. They seem particularly adept at building good negotiation strategies when dealing with difficult counterparties.’

‘The Milbank team is very helpful on finding a solution. They quickly understand the issues and are very detailed when it comes on giving advice.’

‘I have been working with James Ormes and Andrew Gibb for more than five years now. both of them are experts in their own right. This means with the collaboration between both of them, it could give us a different angle point of view when reviewing or giving advice.’

Key clients

JBIC

NEXI

ADB

KEXIM

K-Sure

AIIB

PT Supreme Energy

The Amman Group

PT Adaro Energy Tbk

Yinson Boronia Production B.V.

Sumitomo Corporation

Medco

MUFG

GNPower

International Finance Corporation

SMBC

Work highlights

  • Advised Yinson Holdings Berhad of Malaysia and Sumitomo Corporation of Japan as Sponsors in connection with the development and financing of the Marlim 2 FPSO ‘Anna Nery’.
  • Advised PT Medco Daya Energi Sentosa in connection with the financing of certain interests in PT Paiton Energy and its affiliates.
  • Represented PT Supreme Energy in connection with the partial divestment of equity interests in PT Supreme Energy Sumatera to INPEX Geothermal, Ltd.

Singapore > Asset finance: foreign firms Tier 3

Noted for its ‘deep and broad knowledge in all matters related to aviation financing, leasing and acquisitions‘, Milbank handles transactions throughout Southeast Asia and in the North Asian market, where it acts for the largest China-based aircraft lessor creditors. Global lessor clients, as well as carriers and airlines, continue to inform much of the deal flow, and are appreciative of the team’s ability to handle the full range of mandates, including large restructurings of financings and operating leases. While primarily focused on aviation work, lawyers have additional experience in the shipping and offshore segments. Recommended for his ‘sensible commercial ideas in respect of the aviation financing industry‘, Paul Ng oversees the aviation, space and asset finance group in Asia.

Practice head(s):

Testimonials

‘The Milbank Singapore team has deep and broad knowledge in all matters related to aviation financing, leasing and acquisitions.’

‘Paul Ng has deep and broad experience, and is able to formulate solutions that do not just work from a legal perspective, but which are commercial and can bring a positive outcome for clients.’

‘The firm’s performance on the aviation financing work was above my expectation in terms of client service and legal knowledge. The firm provides good quality service, their lawyers have high commercial awareness in general and I find their fees very reasonable.’

‘Milbank has a very professional aviation financing team. Their expertise covers almost all related sections of aviation financing, including commercial transactions as well as litigation. They also have great cooperation with many local counsel in Asia, which assures that they could provide full services to the clients.’

‘Paul Ng has very sensible commercial ideas in respect of the aviation financing industry.’

‘They have been very professional, experienced, diligent, careful, responsive and client-oriented.’

Key clients

Singapore Airlines

Malaysian Airlines

Philippine Airlines

Korean Air Lines

Asiana Airlines

China Southern Airlines

Sri Lankan Airlines

Air Asia

ICBC Leasing

Bank of Communications Financial Leasing

Minsheng Financial Leasing

China Construction Bank Financial Leasing

China Merchant Bank Leasing

AVIC Financial Leasing

CALC

Castlelake LP

Aviator Capital

China Aircraft Leasing Group Holding Limited

True Noord

Avolon

BOC Aviation

Lion Air

VietJet Air

Spring Airlines

Cebu Pacific

Carlyle

Government of Sri Lanka

MISC Berhad

Work highlights

  • Advising Carlyle Aviation on a US$187m novation style PDP (pre-delivery payments) financing of 20 A320 aircraft.
  • Assisting ICBC Leasing in connection with the leasing of three Boeing 737-800 aircraft to Transavia France and the restructuring of leases for four B737-800 Aircraft to Transavia France.
  • Advising Industrial and Commercial Bank of China Limited (ICBC) Leasing on the sale and leaseback to Air France of two A220-300 aircraft and two wide-bodied A350 aircraft.

Singapore > TMT: foreign firms Tier 3

The TMT team at Milbank is highly regarded and has experience in transactional mandates involving leading companies, investors and financial institutions. The practice is well-versed in multiple practice areas including corporate, finance and capital markets. Co-head Giles Kennedy is active across DCM and ECM and has expertise in commercial transactional work too. Other co-head Jacqueline Chan acts for financial institutions and investment funds with a focus on restructuring and corporate finance.

Practice head(s):

Giles Kennedy; Jacqueline Chan

Testimonials

‘Above all an ability to stand with a client and maintain a focus on the most effective solutions to any problem. Not just the law but how to make the law work for you.’

‘The team is empowered and associates and senior associates can act independently.’

‘Giles Kennedy is likely the most knowledgeable tower lawyer in Asia. Balance of technical and the practical and has seen enough situations to know what works – doesn’t waste time setting your opening position as infeasible but move quickly to the right negotiating range.’

‘Millbank is able to provide a range of services dependent upon requirements at particular time. Many of the projects have been multi faceted and they have always been able to provide the correct resources at the correct level to suit our needs. This flexibility has meant that we have not needed to engage multiple organisations in parallel.’

‘I have been working with Giles Kennedy for a number of years on telecoms matters. His industry knowledge immediately makes him stand out from the crowd, and also his willingness to take the time to listen and understand his clients’ needs to ensure that he delivers the service that they require and are expecting.’

‘Milbank seems to have a strong presence on TMT across different jurisdictions in South East Asia.’

‘Jacqueline Chan has a very client-oriented focus and has provided good suggestions on how to structure transactions to achieve the client’s commercial goals’

‘Team has a strong reputation for being user friendly and highly commercial friendly in acting in the best interest of the client.’

Key clients

PT Bukalapak Tbk

PTT Public Company Limited

WatchBanQ Group

Masan Group Corporation

PT Dayamitra Telekomunikasi (Mitratel)

PLDT Inc.

CVC Capital Partners

Baring Private Equity Asia

Work highlights

  • Advised Bukalapak in connection with its US$1.5 billion initial public offering listed on the Indonesia Stock Exchange – the largest Indonesian IPO to date.
  • Advised telecommunications provider PLDT Inc. and its subsidiaries Smart Communications, Inc.  and Digitel Mobile Philippines, Inc. in the sale of 5,907 telecom towers and related passive infrastructure.
  • Advised Tiga Acquisition Corp., a special purpose acquisition company, in connection with a definitive merger agreement with Grindr.

Indonesia > Foreign firms Tier 1

Housing a ‘high-quality team’ of ‘leading advisers’, Milbank has demonstrable experience advising on capital markets, project finance, M&A, restructuring and insolvency, and banking matters. Key work highlights include acting for Bukalapak on its $1.5bn IPO listed on the Indonesia stock exchange. ‘Extremely hard working’ Jacqueline Chan, who is noted for her expertise in corporate finance, M&As and restructuring mandates, leads the practice alongside head of projects, energy and infrastructure finance James Murray, David Zemans, who focuses on high-value financing transactions, and ‘leading capital markets adviserGiles Kennedy. Other key contacts in the group include James Orme, who advises on large-scale energy and infrastructure projects, and special counsel Terrence O’Donnell, who joined the firm from Shearman & Sterling LLP in July 2021 and acts for clients on capital markets matters.

Practice head(s):

James Murray; David Zemans; Jacqueline Chan; Giles Kennedy

Other key lawyers:

Terrence O’Donnell; James Orme; Andrew Gibb; Rosaline Yusman

Testimonials

‘Leading advisers, small, efficient and high quality team, very trusted by borrowers in capital markets and restructuring space.’

‘Jacqueline Chan is extremely hard working, has a high work rate, and extensive corporate knowledge.’

‘Giles Kennedy is a leading capital markets adviser, and corporate’s Jacqueline Chan is a leading restructuring adviser.’

‘David Zemans is involved in large transactions and accessible when client needs. He is very hands on on critical issues.’

‘James Murray is amongst the best lawyers in the region.’

‘James Murray and James Orme have outstanding experience in the power and infrastructure sectors in Southeast Asia.’

‘Andrew Gibb is readily available, a problem solver, has strong knowledge of the Indonesian market and always has a positive attitude. Rosaline Yusman is also frequently available and a problem solver. She has a proactive approach.’

‘They are without argument the best law firm when it comes to Indonesia. There is no benchmark transaction in past 20 years where Milbank is not involved in some form.’

Key clients

PT Bank Rakyat Indonesia Tbk

PT Bank Mandiri (Persero) Tbk

PT Bukalapak Tbk

PT Amman Mineral Nusa Tenggara

PT Dayamitra Telekomunikasi (Mitratel)

PT Indofood CBP Sukses Makmur Tbk

PT Japfa Comfeed Indonesia Tbk

PT Amman Mineral Industri

PT Medco Daya Abadi Lestari

PT Adaro Indonesia

PT Bank Mandiri (Persero) Tbk.

PT Supreme Energy

Marubeni Corporation

Asian Development Bank (ADB)

MUFG

Sumitomo Mitsui Banking Corp.

Bank of China

Barclays

Credit Suisse

Emergent Logistics Pte. Ltd.

Work highlights

  • Advised Bukalapak in connection with its US$1.5 billion initial public offering listed on the Indonesia stock exchange.
  • Advised Emergent Logistics Pte Ltd (a joint venture between Emergent Asia Logistics Management Pte Ltd and Blackstone) in connection with the full selldown of their interests in a commercial warehouse portfolio in Indonesia to JD Bright Development V (HK) limited, a subsidiary of JD.com.
  • Advised a sponsor in connection with the development of a 900,000 tonnes per annum copper concentrate smelting and refinery at the Batu Hijau mine in Indonesia.

Vietnam > Foreign desks Tier 2

With offices in Singapore and Hong Kong, Milbank has over 30 years’ experience handling high-end transactions in Vietnam. In Singapore, key areas of expertise include corporate and finance mandates, projects and capital markets, while Hong Kong houses capital markets and projects experts. Technology and aviation are also growing areas of focus for the firm. Jacqueline Chan has expertise in M&A, corporate finance and restructurings, while James Grandolfo, who leads the Hong Kong office, has strengths in capital markets and corporate transactions. Both Chan and Grandolfo are praised as ‘standout partners who are technically strong’. Aviation specialist Paul Ng is another key contact in the firm's Singapore office.

Practice head(s):

Jacqueline Chan; James Grandolfo

Other key lawyers:

Testimonials

‘The team has a robust practical approach, and is always available.’

‘The team has a fast turnaround and amazing attention to commercial points, as well as always following-up on all issues, with a very proactive approach.’

‘The M&A and capital markets teams is very strong.’

‘The partners are hands on and commercially minded.’

‘Jacqueline Chan and James Grandolfo are standout partners who are very technically strong.’

‘James Grandolfo stands out for his superb client management skills, as well as ability to turnaround in a very efficient and timely manner.’

‘Jacqueline Chan is very experienced and knowledgeable.’

Key clients

Masan Group Corporation

UBS

ADB

Emergent Capital Partners

VietJet

Work highlights

  • Advised Masan Group in connection with a $410m minority investment in Masan’s consumer retail arm and food supply chain, VCM Services and Trading by SK Group.
  • Advised Masan Group in connection with a $400m minority investment in The CrownX Corporation by a consortium led by Alibaba Group and Baring Private Equity Asia.
  • Advised Masan Group in connection with a $350 million minority investment in The CrownX Corporation by a consortium of investors, including leading global alternative asset firm TPG, Abu Dhabi Investment Authority’s Platinum Orchid, and SeaTown Master Fund.

Philippines > Foreign firms

Hong Kong-based James Grandolfo and Singapore-based James Murray co-head the department at Milbank, which is praised for having ‘a lot of experience globally’; it receives plaudits for its work on a myriad of cross-border M&A, capital markets and financing transactions as well as for its considerable strength in power projects. Clients comment that it is ‘extremely competent in debt and EPC contracts for projects’ and the group has been particularly active in advising on REIT IPOs. The team is mostly based in Hong Kong with strong support from its Singapore office as well as Seoul and Tokyo. Of counsel Desiree Woo has worked on several sponsor-side mandates for projects in the Philippines, and Paul Pery has a wealth of experience in capital markets work.

Practice head(s):

James Grandolfo; James Murray

Other key lawyers:

Paul Pery; Desiree Woo; Cesareo Singzon

Testimonials

‘Milbank is one of our conglomerate’s transactions counsels. Specifically, they help us with financing and construction matters, which they handle well.’

‘Desiree Woo is very competent and responsive. She always makes herself available for our concerns, even if it means flying halfway across the globe or attending negotiations with counterparties that last until early morning. She listens well. Her ability to speak mandarin is a plus when dealing with Chinese counterparts’.

‘Significant experience in emerging markets power projects, and a good understanding of the imperfect nature of the regulatory environments and contractual structures parties often face in such markets’.

‘The Milbank team are exceptional communicators and very responsive. They have a very pragmatic approach to challenging projects and find the right balance between identifying legal issues and being realistic about expectations in challenging markets’.

‘Current and in-depth knowledge of the project finance market. A strong team with great teamwork. A pro-active, solution orientated approach’.

‘James Murray is a great team leader and really drives deals towards meeting deadlines. He has a commercial approach grounded in an in-depth knowledge of the market’.

‘Milbank is a great firm to work with. The firm is composed of proficient and experienced lawyers. Paul Pery and Cesareo Singzon are great to work with. They are highly efficient and provide timely and practical advice on a variety of issues and concerns’.

‘I have worked with Desiree Woo. She is understanding of how we wish to deal with our EPC Contractor, provides solid and good guidance strategically and is always on hand to support us. Her response time is excellent as is her legal guidance and contract knowledge and interpretation is superb. She is thorough and knowledgeable’.

Key clients

Bank of America Merrill Lynch

Citi

Credit Suisse

CLSA

Union Bank of the Philippines

HSBC

J.P. Morgan

DBS Bank Ltd.

ING Bank

Standard Chartered Bank

UBS

PLDT Inc.

Globe Telecom Inc.

Filinvest Land, Inc.

Monde Nissin Corporation

International Container Terminal Services, Inc.

BPI Capital Corporation

Atlantic Gulf & Pacific Group

DDMP REIT, Inc.

Okada Manila International, Inc.

Megaworld

SMC Global Power Holdings Corp.

Synergy Grid & Development Phils., Inc.

AYC Finance Limited

ACEN Finance Limited

GNPower Kauswagan

GNPower Dinginin Ltd. Co

Aboitiz Power

Power Partners

Asian Development Bank

Ayala’s AC Energy

Merrill Lynch

Deutsche Bank

Citicore Energy REIT Corp.

National Grid Corporation of the Philippines

Work highlights

  • Advised UBS, Citi, Credit Suisse and J.P. Morgan as joint global coordinators in connection with the $1bn Rule 144A/Reg S initial public offering of Monde Nissin Corporation on the Philippine Stock Exchange.
  • Assisting the project company GNPower Dinginin Ltd. Co. and the sponsors, including Ayala’s AC Energy, Aboitiz Power and Power Partners in connection with complex EPC negotiations and financing relating to a $1.7bn supercritical coal-fired power plant project in Bataan Province in the Philippines.
  • Advised telecoms provider PLDT Inc. and its subsidiaries Smart Communications, Inc. and Digitel Mobile Philippines, Inc. on the sale of 5,907 telecom towers and related passive infrastructure to subsidiaries of international groups, edotco Group and EdgePoint Infrastructure.

India > Foreign firms

Milbank fields ‘a very coherent and excellent team’, which ‘tries to find solutions to the requirements of the client in a reasonable and professional way’. The team has particular strength in capital markets and financing, with a focus on corporate finance, and projects and infrastructure matters. The team is led by Hong Kong’s James Grandolfo and John Dewar in London; Grandolfo has over 20 years’ experience in capital markets, M&A and private equity, while Dewar offers a wealth of experience in project finance, with an emphasis on the telecoms, oil and transportation sectors. In the Singapore office, Giles Kennedy is qualified in New York, England and Wales, and New Zealand, and is a well-established capital markets practitioner. John Bona is another key name in Hong Kong.

Practice head(s):

Other key lawyers:

Andrew Whan; Neeraj Budhwani; John Bona; Giles Kennedy

Testimonials

‘A very coherent and excellent team.’

‘We have found them to be proactive, they demonstrate a good understanding of the client matters and cultural issues and are able to articulate these well so as to provide precise advice to the client.’

‘Always tries to find solutions to the requirements of the client in a reasonable and professional way.’

‘The partner with whom we worked is an amazing personality and always helpful in providing right advice.’

‘They understand the client’s requirements, cultural issues, cost consciousness and personal approach very well.’

‘They have a deep understanding of clients’ needs in relation to India.’

‘They are very knowledgeable, capable and competent.’

Key clients

Citigroup Global Markets Inc.

Deutsche Bank

HSBC

JP Morgan

Credit Suisse

MUFG

Mizuho Securities

Barclays

Standard Chartered Bank

Société Générale

Axis Bank

BNP Paribas

State Bank of India

Delhi International Airport Limited

GMR Hyderabad International Airport Limited

JSW Infrastructure Limited

JSW Steel Limited

JSW Hydro Energy Limited

Korea Trade Insurance Corporation (K-sure)

Export-Import Bank of Korea (K-Exim)

SACE S.p.A.

Japan Bank for International Cooperation

AGP International Holdings Ltd

KfW IPEX-Bank

Credit Suisse

Work highlights

  • Advised Credit Suisse, Deutsche Bank, Standard Chartered Bank, Axis Bank, BNP PARIBAS, Mizuho Securities, MUFG and State Bank of India, London Branch as underwriters in connection with an overseas bond issuance by JSW Steel.
  • Advised the lenders in relation to the green loan to finance the $736m acquisition of Norwegian-headquartered solar panel maker REC Solar Holdings by Reliance New Energy Solar.
  • Advised the Atlantic Gulf & Pacific Group in relation to I Squared Capital’s equity investment of up to $300m in its AG&P City Gas venture.