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Philip Badge

Banking Partner, Singapore

“I have been based in Singapore for nearly 20 years, advising lenders and borrowers on the full range of leveraged financing and structured lending transactions. I always aim to offer clients practical, pragmatic and commercially attuned advice to help them conclude their most important deals.”

Overview

Professional experience

Education and qualifications

Overview

Philip is a specialist in international finance with wide-ranging experience across Southeast Asia and India, covering syndicated bank financings. His experience includes advising both lenders and borrowers on complex sponsor and corporate acquisition financing, structured and limited recourse financings, as well as margin lending.

Work highlights

Philip has advised on many of the market’s most significant deals. These include advising:

  • Standard Chartered Bank, Citigroup and ABN AMRO as the lenders on the £3bn equity loan facilities to part-fund Tata Steel’s public bid for Corus, which was India’s largest overseas investment at the time
  • Standard Chartered Bank, Barclays, Citigroup, Credit Suisse, JP Morgan and RBS Bank as arrangers of facilities totalling US$6bn to finance Vedanta Resources Plc’s acquisition of a controlling stake in Cairn India and its subsequent US$1.2bn term and 1.35bn bridge to high yield refinancing
  • CIMB and Standard Chartered Bank on the IDR3.5tr (approximately US$300m) leveraged buy-out of PT Matahari Department Store. The buy-out was led by a joint venture between funds advised by CVC Asia and Pt Matahari Putra Primat. This was the first ever private equity leveraged buy-out in Indonesia
  • Deutsche Bank AG, Singapore Branch, ING Bank N.V., Singapore Branch, Nomura International (Hong Kong) Limited, Standard Chartered Bank, Singapore Branch and E.SUN Commercial Bank, Ltd (as the arrangers and underwriters) in relation to their proposed senior financing for Baring Private Equity Asia VII Limited for the private acquisition of a 31% stake and the mandatory open offer of up to an additional 26% stake in NIIT Technologies Limited (a subsidiary of Kruisberg B.V). The interim facility and take-out term loan facility has a total value of US$306,400,000
  • Credit Suisse as arranger and original lender on a US$400m term facilities for Ruyi Textile and Fashion International Group relating to the acquisition of the holding companies of INVISTA’s Apparel & Advanced Textiles business, which includes the global LYCRA brand
  • Qatar Investment Authority on the refinancing of S$2.1bn facilities for acquisition of Asia Square Tower 1
  • the arrangers on over US$3bn of prepayment financing for Sonangol, Angola’s state owned oil company

Professional experience

Phil is ranked as a Star Individual by Chambers for Banking & Finance (International) in Singapore. He is also recognised as a Foreign Expert in India and Indonesia for Banking & Finance.

Education and qualifications

Philip studied law and commerce, with an Honours in economics from the University of Melbourne.