A cross jurisdictional Ogier team recently acted for Credit Suisse AG, Singapore Branch in relation to a US$1.3 billion credit facility refinancing.
The refinancing was required in connection with the acquisition by Vallar plc (a Jersey-incorporated company listed on the London Stock Exchange) of holdings in PT Bumi Resources Tbk and PT Berau Coal Energy Tbk, two Indonesian mining companies. The acquisition will be treated as a reverse takeover and is intended to create a diversified international mining company.
Ogier was instructed by and worked with Allen & Overy lawyers in Hong Kong, Singapore and London.
The Ogier team was headed by partner and global head of Finance Chris Byrne in Jersey and partner Nathan Powell in Hong Kong, assisted by associate Lucy Chambers.
Commenting on the deal, Chris Byrne said: “Having opened Allen & Overy’s office in Singapore while working there back in 1992 I was delighted to work with the firm’s lawyers on such a high profile and significant transaction in the region.”
Nathan Powell said: “By fielding a cross-jurisdictional team based in Jersey and Hong Kong we were able to deliver real time advice to the London and Singapore teams which is a key advantage on a fast moving transaction such as this one. Ogier is the only firm able to offer Jersey legal advice in the Asian time zone from our Hong Kong office.”