Milbank’s robust Asia practice shortlisted in nine categories for IFLR awards presented in Hong Kong – including one M&A and three high yield deals of the year, as well as US and international law firm of the year
NEW YORK, March 21, 2016 – Milbank, Tweed, Hadley & McCloy LLP’s leading Asia transactional practice won two awards at the International Financial Law Review (IFLR) annual awards ceremony held in Hong Kong earlier this month.
IFLR awarded Milbank Asia Restructuring Deal of the Year– and High Yield Law Firm of the Year, based on a volume of corporate securities offerings in which the firm advised.
David Zemans, Singapore-based managing partner of Milbank’s Asia practice, said: “The quality and sophistication of Milbank’s work in Asia is a result of the excellence of our lawyers as well as our deep pan-Asia experience. Milbank has nearly four decades of experience in Asia and has handled transactions in virtually every country in Asia and we’re pleased that IFLR singled out our work.”
Restructuring Deal of Year
Milbank scooped Restructuring Deal of the Year for advising the secured parties including DNB Bank ASA (Singapore branch) and affiliates of KKR and York Capital in the $650 million multi-year restructuring of Indonesian oil/gas and liquid cargo shipper PT Berlian Laju Tanker Tbk (BLT). Milbank led a global effort in the complex expedited deal.. Working with interested parties including BLT equity holders and creditors in Asia, the US, and elsewhere, Milbank structured and negotiated the novel transaction that met the requirements of multiple jurisdictions and included the first out-of-court amendment of a court-approved restructuring plan under Indonesia’s insolvency law.
High Yield Firm of the Year
Milbank’s extensive experience and strength in Asia securities was recognized by IFLR for advising on the following matters, among others.
- Advising international underwriters in the $288.75 million debt issuance by Delhi International Airport Private Ltd., which operates Indira Gandhi International Airport in New Delhi – one of the first deals of its kind for a major Indian infrastructure asset and awarded IJGlobal’s Airport Deal of the Year. This deal was nominated by IFLR for High Yield Deal of the Year 2016;
- Advising leading global investment banks as underwriters in connection with ICTSI's US$450 million 5.5% perpetual bonds offering, which was awarded “Philippines Capital Markets Deal of the Year 2015” and “AAA Asset Award 2015” by The Asset. The ICTSI perpetual security offering was nominated by IFLR for High Yield Deal of the Year 2016;
- Advising the underwriters on VLL International’s US$1 billion MTN Programme. Vista Land is one of the Philippines’ leading residential property developers. This deal was nominated by IFLR for High Yield Deal of the Year 2016;
- Advising underwriters of the $5 billion bond offering by Malaysian oil/gas major Petronas, a dollar-, yen-, and euro-denominated issuance that included traditional and Islamic tranches which was nominated by The Asian Lawyer for Securities Deal of the Year.
