U-Glen Lim

Leveraged and acquisition financing

• Advised Star Energy in relation to the US$1.25 billion financing for the acquisition of Chevron’s Indonesian geothermal assets (named “Renewable Deal of the Year by Project Finance International”) and its prepayment and interest rate swap termination exercise in connection with its US$1.11 billion green bond refinancing
• Advised Star Energy Group Holdings Pte. Ltd. in relation to the US$655 million financing for the acquisition of EGCO’s entire stake and half of Mitsubishi’s stake in its Indonesian geothermal energy assets
• Advised Barito Wind Energy on its US$110 million acquisition financing of PT UPC Sidrap Bayu Energy and its project financing arrangements
• Advised Star Energy Oil & Gas on the acquisition financing from DBS to purchase a partial stake of Ayala’s holdings in ACEHI Netherlands B.V.
• Advised a renewable energy client on its up to US$250m financing to retrofit existing and construct new energy generation units to add 96 MW of power generating capacity as its existing projects
• Advised a HK-based credit fund on a US$26 million secured term loan facility for a Singapore-based education technology company and operator of a chain of pre-school centers in Singapore
• Advised a renewable energy client on the financing for its proposed acquisition of a US geothermal business
• Advising a credit fund in relation to a second-lien financing for an Asian food and beverage business
• Advised AION in relation to the financing for its acquisition of Interglobe Technologies Limited in India and the Philippines
• Advising MUFG in relation to a US$150 million financing for an Indonesian mining company
• Advised EQT VII on its successful bid and subsequent public-to-private buyout of IFS, a business software company formerly listed on the Stockholm exchange, and subsequent holdco PIK and Term Loan B financings
• Advised Baring Private Equity East Asia on the US$400 million refinancing of its acquisition of Interplex Holdings Pte. Ltd.
• Advised the lenders in relation to the financing for the acquisition by Warburg Pincus of a minority holding in Computer Age Financial Services Pvt Ltd
• Advised the lenders in relation to the financing for the acquisition by Chrys Capital of a minority holding in Mankind Pharma Limited
• Advised the lenders on the acquisition financing by a leading regional infrastructure fund of a Norwegian petrochemicals business
• Advised Asia Pay Television Trust on the refinancing of its US$ and New Taiwan Dollar facilities

Restructuring and insolvency

• Advised MMI Holdings Limited on the successful restructuring of its US$358 million syndicated credit facilities in 2019, and its subsequent US$271 million restructuring in 2024 implemented via a Singapore court-sanctioned pre-packaged scheme of arrangement
• Advised Tor Investment Management and Franklin Templeton in relation to its holdings in US$200m senior secured bonds issued by Brooge Petroleum and Gas Investment Company FZE
• Advised AG&P Group on the reorganization and recapitalization of its businesses
• Advised a global private capital firm on its potential exposure and enforcement rights under their various investment positions in Adani, in connection with the Hindenburg allegations in 2022 and SEC indictment of key members of the Adani conglomerate in 2024
• Advised a US-headquartered global alternative investment firm on the acquisition of a portfolio of distressed loans in India
• Advised a US credit fund on its debtor-in-possession financing in connection with the Chapter 11 bankruptcy proceedings of a data intelligence company

Structured Lending

• Advised OCP on its US$100m secured term loan facilities and warrants for Asia Digital Engineering Sdn Bhd
• Advised a credit fund in relation to the total returns swap and secondary loan participations in the financing for a Chinese conglomerate
• Advised the borrowers and lenders in relation to share-backed financings secured against publicly listed shares on the Indonesian, Australian and Philippines stock exchanges

Funds Finance

• Advised the borrower, a fund-of-one SPV managed by an international alternative investments firm, in relation to its up to US$200m Net Asset Value fund financing facility
• Advised the lenders in relation to a US$100 million capital call facility for OCP Asia Fund III (SF 1) Pte Limited
• Advised the lenders in relation to a US$50 million capital call facility for Orchard Landmark
• Advised the lenders in relation to a US$40 million portfolio financing facility for Koi Structured Credit Pte. Ltd.
• Advised the lenders in relation to a US$150 million portfolio financing facility for OL Master Limited
• Advised the arrangers on its US$300 million facilities to RRJ Capital and the back-to-back loan to China’s leading property developer

Project and ECA Finance

• Advised Fulbright University Vietnam on a pro bono basis in connection with the project financing from the US International Development Finance Corporation in respect of its new District 9 Ho Chi Minh City campus
• Advised an Indonesian family office on its US$300 million convertible note due 2028 subscribed by Bangkok Bank
• Advised KEPCO on the simultaneous closing of its ECA with Saudi Aramco and project financing in respect of the Jafurah Co-Generation project
• Advised Princeton Digital Group in respect of a S$70 million financing related to the expansion of its data centre assets in Singapore.
• Advised a data center developer on the financing package for its INR5.5 billion secured facility for its 24MW net post-fitout capacity data center in Navi Mumbai
• Advised PT Armada Gema Nusantara, a joint venture of Bumi Armada and Sapoorji Pallonji on its US$268 million Shariah-compliant financing of its FPSO “Karapan Armada Sterling III”
• Advised KEPCO in connection with its K-Exim and K-Sure backed US$609 million senior financing and US$151 million equity bridge loan to the Guam Dededo 198MW power plant
• Advising KEPCO on the financing arrangements in relation to the Jafurah Cogen power project in Saudi Arabia
• Advised Bumi Armada on the full refinancing of its US$660m corporate financing package
• Advised Bumi Armada on its US$64.3 million secured term loan facility with ING Singapore and related interest rate swap arrangements
• Advised MODEC, Inc., Marubeni Corporation, Mitsui & Co. and other Japanese sponsors on their restructuring and consent solicitation processes in connection with the shareholdings and project financings of its entire FPSO fleet
• Advised MODEC, Inc., Mitsui & Co., Mitsui O.S.K. Lines, Mitsui E&S Holdings Co., Ltd and Marubeni Corporation on the development and project financing (including JBIC finance and NEXI cover) of the Mero 1 and Sepia FPSO Projects in the Mero oilfields in offshore Brazil. Awarded “Upstream Oil & Gas (Latin America category) Deal of the Year” by Infrastructure Journal
• Advised the Siam Cement Group in connection with the financing of the Long Son Petrochemicals Plant in Vietnam
• Advised the arrangers on its secured term facility to a Vietnam solar plant company operated by Bitexco
• Advised Credit Suisse as coordinating lead arranger on its syndicated bank and ECA term facilities with the Ethiopian Railway Corporation

General lending

• Advised the lender on various loan facilities with, amongst others, the Laos central bank, Pakistan Airlines and the Government of Sri Lanka
• Advised the arrangers and agent on Reliance Industries’ US$2.653 billion syndicated term loan financings in July 2018, named “Best Syndicated Loan” by The Asset at the Triple A Regional House and Deal Awards 2018
• Advised the arrangers and agent on Reliance Industries’ and Reliance Jio’s aggregate US$2.25 billion equivalent syndicated loans – its first for the year 2019

U-Glen Lim is a banking and finance lawyer, who has experience acting for both financial institutions and corporate clients in cross-border financing transactions, including in areas such as funds financing, acquisition and leveraged finance and project finance. U-Glen also advises on the restructuring and enforcement of security in connection with these arrangements.

U-Glen also has exposure advising on lending products in a broad variety of sectors (such as in infrastructure, energy, investment funds, real estate, private debt and private equity) and jurisdictions (including Australia, China (including Hong Kong), India, Indonesia, Laos, Malaysia, Pakistan, the Philippines, Scandinavia, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam).

U-Glen is recognized in IFLR1000 as a ‘Rising Star’ in Banking and Finance. Clients, commenting in Legal 500 and Chambers Global, have respectively described U-Glen as “bright and hardworking”, “a respected senior associate” and part of an associate team of “very good lawyers who punch above their weight”.