Banking & Finance

Overview

Our Banking & Finance Department handles a significant body of real estate-related financing work, as well as structured financings. Lawyers in the team advise a range of clients, including corporates and lender organisations, and including both domestic and international financial institutions. The practice is also able to assist clients with green loans. It often handles cross-border deals in the Asia-Pacific region and further afield.

The Banking & Finance team advises on the full spectrum of loan and other debt related transactions, including:

  • project, asset and asset-backed financing

  • financing relating to takeover offers

  • syndicated / club loans

  • cross border financing

  • securitizations and sale of loans and receivables

  • security arrangements and documentation

In particular, our Banking & Finance Department’s practice extends to:

  • the structuring of loans and other financial transactions and assisting lenders in the preparation of term sheets for such transactions

  • all types of loans, e.g., syndicated loans, club loans, structured financing, transferable loans, cross-border loans and loans with embedded debt instrument conversion options

  • a wide range of security documents, e.g., debentures, assignments, charges, deeds of subordination and funding undertakings as well as guarantees and indemnities

  • issuing legal opinions to foreign lenders on aspects of Singapore law relating to international and cross-border financing transactions

  • advising generally on banking and other financial laws and regulations

  • interest and currency swap transactions
    reviewing and advising on standard banking documents for use by banks and other financial institutions

Chambers and Partners, an independent legal research company, has reported as follows:

  • “This group is particularly noted for its ability to act on multifaceted issues, offering transactional advice and co-ordinating with counsel across several jurisdictions. It has an impressive client list which includes DBS Bank, United Overseas Bank, HSBC, Standard Chartered Bank and Bank of Tokyo-Mitsubishi UFJ. Sources say: "I'm very comfortable with Lee & Lee. It has a personal, human approach – even when handling the most complex issues.””

  • The team is “Well trained, knowledgeable and proactive; they can explain and push their clients’ points across without being overbearing.”

  • “They have very strong expertise and are able to provide good advice in layman’s terms.”.

  • Lee & Lee's team demonstrates attentiveness and openness to discussion, understanding their clients’ commercial concerns and limitations.

  • The team possesses a commercial mindset, focusing on addressing clients' requirements.

  • “Louise Tan is regarded by sources as someone who “sees the bigger picture” and has a “personal touch” with clients”

  • “Louise Tan can always be counted upon to take care of her client's interests. She is also very commercial in her approach.”

  • “Louise is very attentive and careful with her work. She is very good at providing us with suitable solutions to move things forward.”

Case Highlights

    1. Represented various lending syndicates in respect of the financing and refinancing of the Millenia Project for an aggregate loan quantum of approximately $2.3 billion.

    2. Acted for Goldman-Sachs in its obtaining of transferable loan facilities of an aggregate amount for its purchase of DBS Towers One and Two, and completing the transaction in 3 weeks. Also acted for Goldman-Sachs in the negotiation of the syndication loan agreement for the syndication of the transferable loan.

    3. Acted for the Lenders, Arranger, Agent and Security Agent in respect of a term loan and a revolving credit facility of up to $290m to CDL Hospitality REIT for the purchase of the first 4 properties to be owned by the REIT.

    4. Advised a subsidiary of Wing Tai Holdings Limited to finance its development of a residential-cum-commercial project at the former Cockpit Hotel site.

    5. Advised a subsidiary of Wing Tai Holdings Limited in respect of the financing of its project Kovan Melody.

    6. Acted for a subsidiary of United Engineers in respect of the financing of its project at One-North to develop an integrated site comprising a business hotel, residential blocks and commercial facilities.

    7. Advised a subsidiary of Wing Tai Holdings Limited in respect of the financing of Draycott 8.

    8. Acted for a subsidiary of Wheelock Properties in respect of its financing of a project along Ardmore Park.

    9. Acted for a borrower with respect to land and construction loan facilities of an aggregate amount of $166.72m to be used to finance the land cost and the construction cost of a residential and office development.

    10. Advised on the financing of Temasek Holdings’ $710m hostile bid for United Overseas Bank’s property arm.

    11. Represented a major telecommunications company in Singapore in its financing of aggregate amount $650m.

    12. Represented the Lenders in respect of a $600m financing to one of Asia-Pacific’s leading energy utility companies.

    13. Acted for a listed borrower with respect to the documentation of an unsecured term loan facility of an aggregate amount of $180m to refinance its existing short term bank borrowings and for general corporate funding.

    14. Acted for a borrower with respect to the documentation of revised loan facility of an aggregate amount of $163m granted by several banks and secured by debentures made in favour of each bank, a mortgage, a postponement of mortgage and a pari passu deed.

    1. Advised the Bank of Scotland in the amendment of senior and mezzanine facility agreements to increase their respective amounts and represented the Lenders in the taking of various local law securities in relation to the acquisition of the Singapore entity in a global group of companies. Acted for a Singaporean borrower in a Japanese syndicated loan and advised the foreign lenders on the capacity of the Singapore borrower.

    2. Acted for the Citicorp USA, Inc. led syndicate of lenders in the Singapore chapter of their financing to Exide Technologies, involving the Exide group of companies.

    3. Representing a foreign lender in the taking of various local law securities in relation to a multi-tranche credit facility agreement to a global group of companies.

    4. Advised on the enforceability of a US$150m dollar loan agreement with an offshore bank in Singapore.

    1. Acted for NTUC Income Insurance Co-operative Limited in respect of their capital guaranteed insurance-linked product, the Dynamic Guaranteed Fund.

    2. Advised Standard Chartered Bank on the provision of Identrus services (involving an electronic network for business-to-business e-commerce) in Singapore.

    3. Acted for the Singapore branch of a foreign bank in its setting up of a programme involving debt purchase financing and preparing the relevant standard forms.

Key Contacts

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Get in touch with us.

Lee & Lee LLP
25 North Bridge Road, Level 7
Singapore 179104
Contact: +65 6220 0666
Email: leenlee@leenlee.com.sg