Milbank > Singapore, Singapore > Firm Profile

Milbank > The Legal 500 Rankings

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

Praised for its ‘unrivalled experience’ and ‘incontestable reputation in Southeast Asia’, Milbank counts multinational investment banks, multilaterals and funds, as well as regional and national companies across the power generation, natural resources, telecoms, consumer retail, e-commerce and healthcare sectors, among its key roster of clients. Managing partner David Zemans is heavily involved in cross-border transactions, namely involving Indonesia, India, China and European elements, with demonstrable experience in SPAC and de-SPAC transactions, joint ventures, auction sales, and minority investments. Zemans jointly leads the team alongside Jacqueline Chan, who stands out for her expertise in corporate finance, M&A and restructurings. ‘A rare lawyer of quality and character’, associate Min Kim is another key contact in the group.

Singapore > Projects: foreign firms Tier 1

Milbank’s projects and infrastructure team is widely acclaimed for its regional expertise in power projects. The firm assists lenders and borrowers with high-end project acquisitions, developments, financings and refinancings, including conventional and Islamic financing structures. Oil and gas, LNG, power, and mining are key sector strengths for the group, which has a highly visible presence in the Indonesian and Malaysian markets. The practice is headed up by James Murray, who excels in handling power generation and renewable energy matters. James Orme regularly advises on large-scale infrastructure projects. Andrew Gibb and Rosaline Yusman are singled out for their contributions.

Singapore > Restructuring and insolvency: foreign firms Tier 1

Milbank’s team is noted for its expertise across a broad range of debt and corporate restructurings, boasting an international outlook and frequently utilising its network of offices throughout the Asia Pacific region. The group advises on cross-border transactions, in addition to restructuring joint ventures and bankruptcies before the US and other foreign bankruptcy courts. Managing partner David Zemans, who had a strong track record in high-profile restructurings and financing matters, leads the practice, with other key contacts in the group including Jacqueline Chan and associate Martin Wong, who advises on restructuring issues relating to energy projects in Southeast Asia.

Singapore > Banking and finance: foreign firms Tier 2

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.

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

The ‘knowledgebase and credible’ team at Milbank is noted for its strong debt capital markets capabilities, particularly for high-yield and liability management products, and continues to showcase its expertise in advising issuers facing near-term debt maturities on innovative liability management transactions. Boasting an enviable equity capital markets practice, the team’s workload includes high-value IPOs and de-SPACs, with demonstrable experience in the technology sector. Giles Kennedy leads the practice and advises major banking clients on debt offerings, including high-yield mandates, in addition to underwriters for equity offerings. Praised as ‘technically well-versed and approachable’, Terrence O’Donnell is noted for his expertise in IPOs and share placements.

Singapore > Energy: foreign firms Tier 2

Milbank has a strong reputation in energy and infrastructure that, coupled with its longevity and stability in Singapore, has earned it a significant market share of big-ticket engagements in the region. Although it has successfully transitioned to decarbonisation and renewables, it remains at the forefront of upstream and downstream LNG projects, especially in Indonesia; the Singapore team frequently works alongside colleagues in Tokyo on oil and gas, LNG and petrochemical projects. Indonesia remains the practice's primary market, though it has also landed significant engagements in Malaysia, the Philippines and the Mekong peninsula in addition to sporting a balanced mix of lender and sponsor clients. James Murray heads the projects, energy and infrastructure practice in Asia, having been based in Singapore since 2006. James Orme is an emerging talent in energy and infrastructure finance, and Jacqueline Chan is a key name in Indonesia energy M&A.

Singapore > Asset finance: foreign firms Tier 3

Described by one client as a ‘skilled team that can handle with ease the most daunting of transactions’, Milbank remains a highly active player in the region’s aviation finance and restructuring scene. Following the departure of Paul Ng in summer 2023, David Paterson, noted for his transaction and leasing experience, is the key point of contact for the Singapore office. Paterson also works with the London Office’s asset and trade finance partners, Nick Swinburne, and James Cameron (the latter is a member of the firm’s transportation and space group.)

Singapore > TMT: foreign firms Tier 3

The ‘technically strong and reliable’ team at Milbank counts domestic and regional companies, investors, and financial institutions among its key roster of clients, advising on a range of technology and telecoms-related transactions across Southeast Asia, notably the Philippines, Indonesia, Thailand, and Vietnam. Giles Kennedy handles M&A, capital markets, and financing transactions arising out of the technology and telecoms sectors, and jointly leads the team alongside Jacqueline Chan, who has a strong focus on cutting-edge first-of-its-kind deals.

Indonesia > Foreign firms Tier 1

Milbank excels across practice areas in Indonesia, including in banking & finance, capital markets, M&A as well as restructuring, with projects and energy playing a large role in the firm’s practice. Jacqueline Chan focuses on corporate finance, M&A and restructuring throughout Asia and including Indonesia and leads the practice alongside James Murray, David Zemans and Giles Kennedy, the latter who is active in debt and equity matters. ‘Excellent’ James Orme is experienced in complicated cross-border financings. Terrence O’Donnell was made partner at the end of 2022 and has a broad skillset in relation to capital markets issues.

Vietnam > Foreign desks Tier 2

Milbank’s 9-strong Vietnam practice, jointly led by Jacqueline Chan in Singapore alongside Hong Kong-based James Grandolfo, has considerable experience handling high-end transactions in Vietnam. The firm has a strong presence in the Asia Pacific region, including in Singapore, Hong Kong, Beijing, and Tokyo, and continues to gain traction in Ho Chi Minh City, specialising in energy and infrastructure, capital markets, technology, aviation, and commercial mandates. Chan regularly acts for financial institutions, corporates, investment funds, and private equity funds in relation to cross-border matters throughout Asia. With capital markets, M&A, and private equity expertise, Grandolfo heads the firm’s Hong Kong office and having helped launch the firm in the Philippines, is now active in Vietnam.

Malaysia > Foreign firms Tier 3

Praised as ‘extremely client-focused, commercially flexible and strong during negotiations with counterparties’, the team at Milbank is led by Singapore-based managing partner David Zemans, and acts for Malaysian financial institutions and institutional investors in regional transactions. Working in conjunction with the firm’s Tokyo and Hong Kong offices, key areas of expertise include advising on Islamic finance mandates, involving Malaysian-Indonesian elements, in addition to capital markets transactions, project developments, commercial deals, M&A and restructurings. James Murray, who leads the project, energy and infrastructure finance practice group in Asia, is another key contact in the practice.

Philippines > Foreign firms

Milbank covers the full spectrum of transactional work involving the Philippines from corporate and capital markets work to advising on major projects, which often have a significant cross-border dimension. Clients include top international financial institutions, and the firm regularly acts for the sponsors and lenders on these landmark deals. Hong-Kong-based James Grandolfo has a wealth of experience in capital markets, M&A, and private equity matters across Asia, and leads the team together with James Murray, who is based at the Singapore office and is particularly active in the Philippines on major power projects. Paul Pery plays a pivotal role in significant capital markets transactions. Another notable member of the practice is Desiree Woo who is active in the project, energy and infrastructure finance group and is based at the Hong Kong office.

India > Foreign firms

Acting for global financial institutions and domestic and international companies in the steel, energy, and infrastructure sectors, Milbank’s India practice stands out for its expertise in capital markets, projects, and financing work. Practice co-head James Grandolfo, in Hong Kong, has a broad debt and equity practice and leads on corporate and M&A instructions, while co-head John Dewar takes point on project finance from the firm’s London office. In Singapore, Giles Kennedy and new partner Terrence O’Donnell are recommended for their IPOs, share placements, and high-yield bonds expertise.