Melissa Huang

MTN Programmes

• Acting for various SGX-listed issuers (including CapitaLand Retail China Trust (CRCT), iFAST Corporation Ltd., Aspial Corporation Limited, Aspial Lifestyle Limited, Centurion Corporation Limited and Q & M Dental Group (Singapore) Limited) in relation to the establishment and/or update of their MTN/debt issuance programmes and advising on issuances under such programmes;
• Acting for the arrangers/dealers and the professional trustee/agents in connection with the update of F&N Treasury Pte. Ltd.’s S$2 billion Multicurrency Debt Issuance Programme (guaranteed by Fraser and Neave, Limited) and advising on issuances under such Programme;
• Acting for the arrangers/dealers in connection with the update of SMRT Capital Pte. Ltd.’s S$1.3 billion Multicurrency Guaranteed Medium Term Note Programme (guaranteed by SMRT Corporation Ltd);
• Acting for the joint lead managers in connection with the issuance by OUE Treasury Pte. Ltd. of its inaugural green notes under its S$3 billion Multicurrency Debt Issuance Programme (guaranteed by OUE Limited); and
• Acting as transaction counsel in connection with the issuance of perpetual securities by Aspial Treasury Pte. Ltd. under its S$700 million Multicurrency Debt Issuance Programme (guaranteed by Aspial Corporation Limited).

Liability Management Exercises

• Acting for various SGX-listed issuers (including Aspial Corporation Limited, Aspial Lifestyle Limited, and Centurion Corporation Limited) in connection with their tender and exchange offer exercises;
• Acting for various SGX-listed issuers (including First REIT, Aspial Corporation Limited, and TA Corporation Ltd.) in connection with their consent solicitation exercises; and
• Acting for the tender agent and meeting agent in various consent solicitation exercises.

Standalone issuances

• Acting for Sabana Industrial Real Estate Investment Trust in relation to the issuance of its inaugural sustainability-linked bonds (guaranteed by Credit Guarantee and Investment Facility, a trust fund of the Asian Development Bank);
• Acting for Aspial Treasury Pte. Ltd. and Aspial Corporation Limited in relation to Aspial’s maiden retail bond issuance of S$150 million 5.25% Bonds due 2020;
• Acting for Oxley MTN Pte. Ltd. and Oxley Holdings Limited in relation to Oxley’s maiden retail bond issuance S$300 million 5.00% Bonds due 2019; and
• Acting for the developer, TG Master Pte Ltd, in relation to the securitisation of its sales proceeds receivables from the condominium project ‘Skies Miltonia’, through the issue of S$200 million fixed rate notes due 2018 via a special purpose vehicle. This was the first post-Lehman securitisation in Singapore.

Professional trustees/agents

• Acting for various professional trustees and agents in the establishment and update of MTN programmes, standalone bond issuances and liability management exercises (including the establishment of ARA Asset Management Limited’s S$1 billion Multicurrency Debt Issuance Programme, the issue of Wing Tai Holdings Limited’s S$150 million 4.08% Senior Perpetual Capital Securities, the update of Starhub Ltd. S$$2 billion multicurrency debt issuance programme, the update of OUE Treasury Pte. Ltd. and OUE Limited’s S$3 billion Multicurrency Debt Issuance Programme, as well as the tender offer and consent solicitation exercise relating to notes issued by FCL Treasury Pte Ltd and guaranteed by Frasers Centrepoint Limited).

Qualifying Debt Securities

• Acting as Singapore legal counsel advising on the qualifying debt securities (QDS) aspect of various transactions, including assisting in obtaining tax rulings from IRAS on QDS eligibility.