27 June, 2016
Baker & McKenzie.Wong & Leow, the Singapore member firm of Baker & McKenzie, has advised the lenders on a A$620 million financing to Frasers Logistics & Industrial Trust ("FLT") in relation to its initial public offering (IPO) on the Singapore Exchange. The S$903 million IPO is the largest on the local bourse so far this year and the biggest first-time share sale in Singapore since 2013.
The Firm advised DBS Bank Ltd., Citibank N.A., Singapore Branch, Oversea-Chinese Banking Corporation Ltd. (OCBC Bank), and United Overseas Bank Ltd. on the financing to FLT for its acquisition of a portfolio of 51 industrial properties in Australia. The properties were acquired by Frasers Centrepoint in 2014 as part of its purchase of the Australand Property Group.
The team was led by the Head of Finance and Projects Practice Group James Huang. He is supported by Local Principal Dawn Ho and Associate Adam Tan.
Commenting on the deal, Principal James Huang said: "We are pleased to have advised the lenders on this significant transaction, which represents one of the largest REIT listings in Singapore. Our finance practice has long been recognised for its strength in cross-border financings, and this deal demonstrates that we are equally well-placed to act on notable deals in the highly competitive local market."
