Amit Singh

Amit Singh

Partner, Singapore

Overview

Professional experience

Education and qualifications

Overview

Amit is a New York and English law qualified partner in our Singapore office and widely recognised as a leading capital markets lawyer in South and Southeast Asia.
 
Amit advises issuers and underwriters on the full range of debt and equity issues, including capital raisings, high-yield issues, liability management, and masala and green bonds, as well as providing clients with general corporate advice associated with capital issues.  He has acted on the substantial majority of Indian debt capital markets transactions in recent years and several prominent equity capital markets transactions. He is also active in jurisdictions across Asia from Indonesia, Malaysia, Thailand, Sri Lanka and the Philippines.

Work highlights
Amit has advised on many market-leading transactions. These include advising on:
 
Sovereign

  • sovereign bond issues by the Maldives, Fiji and Sri Lanka.
India

  • high-yield bond issues by Vedanta Resources, Motherson Sumi, HPCL Mittal Energy Limited, JSW Steel Limited and Neerg Energy (a highly structured US dollar Rule 144A/Regulation S issue). The Vedanta US$1bn bond due in July 2022 was awarded the “Best High-Yield Bond” award by Finance Asia and The Asset. The Neerg transaction was given a “standout” mention in the FT Asia Pacific Innovative Lawyers Award given the swap mechanism that was put in place to channel funds raised by an offshore special purpose vehicle, Neerg Energy Ltd., back onshore to ReNew Power, while mitigating the risk of currency fluctuations; the bond was also certified as green by the Climate Bonds Initiative and verified by an independent assurance statement.
  • investment grade issuances by UPL Corporation, Bharti Airtel Limited, Indian Oil Corporation, Oil India, Bharat Petroleum, ONGC and Hindustan Petroleum.
  • MTN programmes by HDFC Limited, State Bank of India, Bank of India, Bank of Baroda, Syndicate Bank, Indian Overseas Bank, HDFC Bank, Canara Bank, Power Finance Corporation Limited, Rural Electrification Corporation Limited, Mahindra Finance, Tata Capital Housing, Powergrid India, NTPC Limited, National Highways Authority of India etc.
  • masala bond issues by HDFC Limited, NTPC Limited, Shriram Transport, Indian Renewable Energy Agency Limited and Fullerton India.
  • the issue of Additional Tier 1 notes by the State Bank of India, the only international issuance to date of Basel III-compliant additional Tier 1 securities from India.
  • the Qualified Institutions Placements for State Bank of India, Apollo Tyres, Motherson Sumi and Yes Bank.
  • the rights issue by Tata Power Limited.
Indonesia
 
  •  the issue of a Komodo bond (Indonesian Rupiah denominated but US dollar settled) by PT Wijaya Karya (Persero) Tbk. which raised IDR 5.4 trillion Indonesian offshore rupiah (USD 405 million equivalent) with a coupon of 7.7 percent. This is the largest Komodo bond to date by an Indonesian state-owned entity.
  • the issue of USD625 million Rule 144A/Reg S bonds by Pt Saka Energi Indonesia – these bonds were Saka’s first USD bond issuance into the market.
  • the issue of USD300 million Reg S high yield bonds by SSMS Plantation Holdings Pte. Ltd., a wholly owned subsidiary of PT Sawit Sumbermas Sarana Tbk.
  • the issue of USD300 million Reg S high yield bonds by PT Agung Podomoro Land Tbk – these bonds were Agung Podomoro’s first USD bond issuance into the market.
Malaysia
 
  •  the issue of USD400 million high yield Reg S bonds by Press Metal (Labuan) Ltd., an issuing SPV wholly owned by Press Metal Aluminium Holdings Berhad – the issuance was guaranteed by Press Metal Aluminium Holdings Berhad together with certain of its subsidiaries and was the first high yield bond out of Malaysia in over 10 years.
  • MTN programme of AmBank (M) Berhad.
Thailand
 
  •  the cash tender offers and a concurrent consent solicitation by PTT Exploration and Production Public Company Limited relating to its US$1,000 million subordinated perpetual capital securities issued in 2014 and on the substantially concurrent offerings by a finance subsidiary of PTTEP of US$354.7 million aggregate principal amount of subordinated perpetual capital securities with terms substantially identical as the securities repurchased in the tender offers. This innovative transaction was the first of its kind in Thailand and allowed PTTEP to materially lower its cost of capital via withholding tax savings.
  • MTN establishment by the Thai Export-Import Bank of Thailand.

The Philippines
 
  • the MTN programmes of RCBC Bank and the Union Bank of the Philippines.
 

Professional experience

Chambers Asia 2018 ranked Amit as Band 1 in international capital markets for India.

Education and qualifications

Amit studied law at Balliol College, University of Oxford on the British Chevening Scholarship from India (awarded to seven students from India) and holds a master’s in law from New York University School of Law, where he was also a graduate editor of the Journal of International Law and Politics.