Norton Rose advises BNP Paribas, Citibank, DBS, HSBC, OCBC and SMBC on US$1.5 billion revolving credit facility
6 May 2011
Norton Rose (Asia) LLP, the international legal practice, has advised BNP Paribas, Citibank Global Markets Singapore Pte Ltd, DBS Bank Ltd, The Hongkong and Shanghai Banking Corporation Limited, Oversea-Chinese Banking Corporation Limited and Sumitomo Mitsui Banking Corporation on a US$1.5 billion revolving credit facility for Wii Pte. Ltd, a wholly owned subsidiary of Wilmar International Limited.
Wii Pte Ltd holds proprietary investments for the Wilmar Group, a leading Asian agribusiness company that has over 300 manufacturing plants and an extensive distribution network covering China, India, Indonesia and some 50 other countries.
Yu-En Ong, banking partner, Singapore commented:
“Companies, such as Wii, are taking advantage of increased liquidity and a healthy syndicated loan market, to fund mergers, acquisitions and investments on a global scale where comparable bargains can be still be found as markets return to normalcy following the financial crisis.”
The Norton Rose (Asia) LLP team was led by Yu-En Ong with Jane Cheong.
Advising Wilmar as to Singapore law were Allen & Gledhill LLP.
This is the second time that Norton Rose Group has advised on a syndicated loan in connection with Wilmar International Group. Last year, Norton Rose Group advised Australia and New Zealand Banking Group Limited, The Hongkong and Shanghai Banking Corporation Limited and Cooperative Centrale Raiffeisen-Boerenleenbank B.A on its US$1.3 billion and A$600 million syndicated loan facilities to Wilmar International Limited for its acquisition of Sucrogen Limited from CSR Limited. This transaction picked up the AsiaMoney Best Syndicated Loan Award 2010.
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