Global law firm Norton Rose Fulbright has advised The Hongkong and Shanghai Banking Corporation (HSBC) and the lenders on an English law governed S$500 million senior secured term loan syndicated facility for Southeast Asia’s leading ride-hailing company Grab Inc.
The financing is scalable with a potential upsize to S$800 million. The deal was oversubscribed, with a total of 16 bank and non-bank financial institutions participating.
HSBC was structuring advisor, mandated lead arranger, and bookrunner on the deal.
The Norton Rose Fulbright team of the deal consisted of head of Singapore Yu-En Ong, Singapore Partner Colin Rice, Of Counsel Janelene Chen and associate Zhenning Kong.
“This is a landmark transaction for the ride-hailing industry using structured finance options and solutions for a non-conventional business. The overwhelming response from financial institutions on the deal demonstrates a continuing appetite not just for Grab, but also the technology, e-payments and on-demand transport sectors.”
For further information please contact:
Jessica Seah, Marketing and Communications Manager, Asia. Norton Rose Fulbright
Tel: +852 3405 2327
Notes for editors:
Norton Rose Fulbright
Norton Rose Fulbright is a global law firm. We provide the world’s preeminent corporations and financial institutions with a full business law service. We have more than 4000 lawyers and other legal staff based in more than 50 cities across Europe, the United States, Canada, Latin America, Asia, Australia, Africa, the Middle East and Central Asia.
Recognized for our industry focus, we are strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare. Through our global risk advisory group, we leverage our industry experience with our knowledge of legal, regulatory, compliance and governance issues to provide our clients with practical solutions to the legal and regulatory risks facing their businesses.
Wherever we are, we operate in accordance with our global business principles of quality, unity and integrity. We aim to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact.
Norton Rose Fulbright Verein, a Swiss verein, helps coordinate the activities of Norton Rose Fulbright members but does not itself provide legal services to clients.
Norton Rose Fulbright has offices in more than 50 cities worldwide, including London, Houston, New York, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg.
For more information, see nortonrosefulbright.com/legal-notices.