YONGNAM ENGINEERING & CONSTRUCTION SIGNS SYNDICATED FACILITIES FOR S$100 MILLION FINANCING PACKAGE
- Drew & Napier Acted as Counsel to Yongnam Engineering & Construction and Yongnam Holdings -
08 January 2008 – Drew & Napier LLC (“Drew & Napier”) acted as counsel to Yongnam Engineering & Construction (Private) Limited (“YNEC”), a wholly-owned subsidiary of Yongnam Holdings Limited (“YHL”) in the sealing of a S$100 million financing package comprising a S$60 million transferable term loan facility and a S$40 million secured floating rate notes (together, the “Facilities”).
The Facilities which were guaranteed by YHL, were granted by Asian banking powerhouses DBS Bank Ltd and United Overseas Bank Limited together with a syndicate of major regional banks and a finance company, including CIMB Bank Berhad, RHB Bank Berhad, The Bank of East Asia Limited, Indian Overseas Bank, Bank of India, Indian Bank and Sing Investments & Finance Limited.
The Yongnam Group which is mainly involved in the construction industry has been experiencing promising growth on the back of a rising economy with orders coming in from Singapore as well as from the Middle East.
The Facilities which is timely is evidence of the strong support the financial community has of the Group’s business potential and will go towards its purchase of steel struts as well as general working capital in relation to its business activities.
The Drew team was led by Mr Petrus Huang, Director of Drew. The team members include Mr Winston Mok and Ms Joanne Lee.
ABOUT DREW & NAPIER LLC
Established in 1889, Drew & Napier LLC is one of Singapore's leading and largest law firms, with over 220 lawyers and fee-earners. Consistently rated top tier in dispute resolution over the years by international ranking organisations such as Asia Pacific Legal 500, Chambers Global, Practical Law Company and Asia Law Profiles, to name but a few, the firm has seven senior counsel, the largest number of any law firm in Singapore. The firm is headed by chief executive officer, Davinder Singh, Senior Counsel. Drew & Napier LLC is also highly rated in Corporate Insolvency & Restructuring, Intellectual Property and Tax, with market leading practices in Banking & Corporate, Competition & Antitrust, Telecommunications, Media & Technology, and Admiralty & Shipping.
For more information please contact:
Verona Huang
Corporate Affairs Manager
Drew & Napier LLC
Tel: +65 6531 2482
Email: verona.huang@drewnapier.com
Lisa Lim
Corporate Affairs Executive
Drew & Napier LLC
Tel: +65 6531 2218
Email: lisa.lim@drewnapier.com