Global law firm White & Case LLP has advised a group of banks on a US$520 million secured term loan and US$60 million five-year secured revolving credit loan that will refinance the outstanding debt of MMI International Limited, a Singapore-based hard disk drive components maker that is backed by leading global investment firm KKR.
White & Case advised the Singapore branch of Standard Chartered Bank, ANZ, Bank of America Merrill Lynch, DBS Bank Ltd, Cathay United Bank Co., Ltd., CTBC Bank Co., Ltd., Sumitomo Mitsui Banking Corporation, Maybank, Mega International Commercial Bank Co., Ltd and United Overseas Bank in their roles as joint mandated lead arrangers and bookrunners.
"We are pleased with the success of this transaction for our client and the company," said Hong Kong-based White & Case partner Baldwin Cheng, who led the Firm’s deal team. "This deal demonstrates our strengths as a strong finance law firm in Asia and our experience leading major leveraged financings in the region."
White & Case has previously advised on a number of financings involving MMI, including the leveraged buyout to take MMI Holdings Limited private, supporting MMI Precision Technologies Limited‘s acquisition of Intri-Plex Technologies, Inc. and the two-part refinancing package to MMI International which included debt sold into the US Term Loan B market, which is rare from the Asia region.
The cross-border White & Case team which advised on the transaction included lawyers from a number of offices. It was led by partner Baldwin Cheng and included partner Alan Rockwell (New York) and associates Gee Hou Tng, Leela Patel (Hong Kong), Karin Fu (Singapore) and Minyu Zhou (New York).
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