16 January 2018 - In The Press
Advised PT Bumi Resources Tbk. in its US$4.5 billion restructuring including the exchange of its three US dollar denominated bond issues. New debt included a combination of senior loans and bonds, mandatory convertible bonds and contingent value rights as well as new equity. This was one of the largest and most complex debt restructurings in SE Asia and was awarded "Finance Deal of the Year: Insolvency and Restructuring" at Asian Lawyer’s Asia Legal Awards 2018, "Debt Market Deal of the Year (Premium)" at the 2018 ALB SE Asian Law Awards, as well as recognised as one of the Asian-Mena Counsel’s Deals of the Year for 2017.
Advised ChipMos Technologies, a Taiwan based, NASDAQ listed company, in an exchange offer with its US dollar denominated bondholders and the issuance of new equity-PIK convertible securities. The transaction was unique in its complexity for the issuance of convertible securities that required scheduled interest payments to be made in the form of equity listed on the Nasdaq.
Advised Garuda Airlines, Indonesia’s flagship carrier, in its US$850 million debt restructuring, including a tender offer for its floating rate notes through a reverse Dutch auction process and a consent solicitation and amendment of the remaining bonds. This deal was awarded "Asia Restructuring Deal of the Year" by The Banker in 2010.
Advised the Republic of Indonesia on the issuance of €1.25 billion Euro-denominated notes under its Global Medium Term Note program due 2025.
Advised the arranger, Phillip Capital, on the establishment of a US$400 million MTN programme by Geophysical Sub-Strata Ltd. and the issuance of US$151.5 million 8% notes due 2023.
Advised the arranger, Phillip Capital, on the additional issuance of US$114.5 million 8% notes due 2023 by Geophysical Sub-Strata Ltd. under its US$400 million MTN programme which was consolidated as a single series with its US$151.5 million 8% notes due 2023.
Advised the underwriter, Yuanta Securities, on the issuance by Taiwan based Silergy Corp of US$125 million Zero Coupon Convertible Bonds due 2021.
Advised the arrangers, DBS Bank Ltd, RW Pressprich and Seaport Global, on the establishment of a US$500 million MTN programme by Singapore based Avation PLC and issuance of US$100 million 7.5% notes due 2020.
Advised the trustee and paying, transfer and conversion agent on the consent solicitation and early redemption by Taiwan based Neo Solar Power Corp. of US$112.5 million Credit Enhanced Zero Coupon Convertible Bonds due 2017 and the replacement issuance of US$120,000,000 Credit Enhanced Zero Coupon Convertible Bonds due 2019.
Advised the trustee and paying, transfer and conversion agent on the issuance by Taiwan based King Yuan Electronics Co., Ltd. of US$50 million Zero Coupon Convertible Bonds due 2019.
Advised PT PP Presisi Tbk as international counsel on its initial public offering on the Jakarta IDX in November 2017.
Advised Global Power Synergy Company Limited (GPSC), the wholly owned subsidiary and flagship power company of Bangkok-based PTT Group, on its Series B2 and Series C strategic investments in 24M Technologies, Inc., a US technology startup based in Boston, Massachusetts, that focuses on battery storage systems.
Advised TFG Radiant Group, a joint venture of the Chinese construction and real-estate company Radiant Group and the Singapore-based investment company Tertius Financial Group, in its block purchase of shares in Ascent Solar Technologies Inc., a US based NASDAQ listed company, from Norsk Hydro Produksjon, AS.
Advised Hanesbrands, a NYSE listed apparel manufacturer, in acquiring manufacturing facilities in Vietnam.
Advised John Deere Asia, a subsidiary of Deere & Co, one of the world’s largest agricultural equipment makers, on various commercial and regulatory matters relating to its operations in Asia x-China.
Advised Microsoft’s Health Solutions Group in negotiating and documenting an agreement with SingHealth for the development and implementation of Microsoft’s Amalga Hospital Information System.
State of New York, 1995