November 30, 2020
Asian Legal Business (ALB) has selected Latham & Watkins as International Firm of the Year at the publication’s 2020 Philippine Law Awards. Latham also received recognition for advising on three of the four matters honored as Deals of the Year. The results demonstrate Latham’s role as a trusted advisor to domestic and international clients doing business in the Philippines, including in connection with complex capital markets and financing transactions.
Hong Kong corporate partner Benjamin Carale accepted the International Firm of the Year award on behalf of the firm, saying, “We are privileged to work with so many clients that are true pioneers, the movers and shakers of the vibrant and constantly growing Philippine market. It’s an honor to serve our clients, and we send our sincere thanks for the role they allow us to play as their legal advisor.”
Latham lawyers based in the firm’s Hong Kong, Singapore, and London offices advised on the following Deals of the Year:
- Jollibee’s First Offshore Bond Issuance – Debt Market Deal of the Year: Latham advised the joint lead managers in connection with an international bond issuance by Jollibee Foods Corporation, the owner of a Filipino multinational chain of fast food restaurants. Jollibee’s issuance consisted of US$600 million perpetual securities pursuant to Regulation S, listed on the Singapore Exchange. This transaction marks the first-ever bond or perpetual securities issuance of Jollibee Food Corporation and the first time that the company has tapped the capital markets since its initial public offering in 1993.
- AREIT’s IPO – Equity Market Deal of the Year: Latham advised BPI Capital Corporation and UBS AG as joint bookrunners in connection with AREIT’s PHP13.6 billion initial public offering on the Philippine Stock Exchange — marking the first-ever IPO by a real estate investment trust (REIT) in the Philippines.
- Aboitiz Equity Ventures’ Bond Issuance – Finance Deal of the Year: Latham advised Aboitiz Equity Ventures, a leading Philippine conglomerate with investments in numerous sectors, in connection with a US$400 million bond issuance and listing on the Singapore Stock Exchange consisting of 10-year unsecured notes with a fixed coupon rate of 4.2%. The transaction marks AEV’s first international dollar bond issuance.