Freshfields advises on Asia-Pacific’s first climate bond
Freshfields Bruckhaus Deringer has advised on a landmark US$225 million issuance from the Asian Development Bank. The project bond, which has been certified by the Climate Bonds Initiative, is the first of its kind in the Asia-Pacific region and the first ever ‘climate bond’ issued for a single project in an emerging market.
Freshfields advised the ADB in its capacity as guarantor and lender but also advised Credit Guaranty and Investment Facility as the second-loss cover provider and Bank of Philippines as arranger, intercreditor agent and initial noteholder.
The Freshfields team was led by partners Don Stokes and Mark Plenderleith.
Clyde & Co appoints new practice head for Asia-Pac
Benjamin Hirasawa has been appointed partner and head of the hospitality practice at Clyde & Co, initially based in the Singapore office. He has wide experience of advising hospitality and leisure companies with a particular focus on Thailand, Singapore, Myanmar, Indonesia, Japan, the Philippines and Australia. He is joined by senior associate Jonathan Lynch. Both join from DLA Piper
Expansion for Mayer Brown JSM
Mayer Brown JSM in Singapore is expanding its corporate practice with the addition of partner Rod Brown. He will join from Latham & Watkins in April. He is experienced in public and private M&A, private equity transactions, restructurings, strategic investments, joint ventures and general corporate matters.
Law Society concerned over legal privilege
The Law Society in England & Wales has responded to the UK government’s proposed Investigatory Powers Bill, saying that although the bill recognizes the importance of legal privilege it may not protect it enough. President Jonathan Smithers commented that proper scrutiny of the powers of police and intelligence services must be implemented and that the Society “will engage with the government and parliament to ensure that the right balance between security and safety and clients’ rights to protection of their legal professional privilege is achieved.”
US law firm makes it harder to leave
US-based law firm Kirkland & Ellis is making it harder for its equity partners to leave by doubling their notice period to 120 days. All non-equity partners will have a 30-day notice period.