Kirkland & Ellis and Linklaters have advised ESR Group on sustainability-linked refinancing facilities totalling more than USD2 billion.
The deal was one of the largest syndicated financings in the Asia-Pacific region so far this year, with final commitments upsized beyond the original target due to strong investor interest, Kirkland & Ellis said.
The transaction drew robust participation from a diverse consortium of international lenders and was fully underwritten by a core group of leading global and regional banks, including HSBC, Mizuho, Qatar National Bank’s Singapore branch, UOB, Maybank and OCBC.
Singapore-headquartered ESR, one of the Asia-Pacific’s leading real asset managers, said the five-year sustainability-linked refinancing merged several existing loan facilities into a single, multi-currency structure. It also expands ESR’s lender base by adding new and diverse banking relationships in Europe and the Middle East, alongside its existing Asia-Pacific partners.
Kirkland & Ellis advised ESR on the transaction, with the team comprising partners Lloyd Robertson-Jones, Daniel Borg, Jacqueline Zheng, co-head of the Asia debt finance practice, Karen Ho and Art Ward, as well as associates Oliver Clayson and Jin Ahn.
Linklaters represented the mandated lead arrangers, underwriters and bookrunners. The team was led by Hong Kong-based partner Douglas Doherty, who was supported by associate Nicole Ngan and trainee solicitor Asha Ross.
The refinancing is intended to support ESR’s strategy to streamline its business and expand its core logistics and data centre operations.
