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Philip Lee

Partner
About

Over 22 years of experience in corporate finance work including capital markets, complex restructuring, structured financing, private equity and M&A transactions across the globe with a particular focus on the Asia Pacific region.

Philip has been based in Singapore since 2006 and has advised clients in every major jurisdiction in Asia. He represents issuers, sponsors and investment banks in a variety of debt, equity and equity-linked capital markets transactions, including high-yield, investment grade, regulatory capital, corporate hybrids, Rule 144A/Regulation S transactions, SPACs, DeSPACs, SEC-registered offerings, Islamic financing, GMTN and EMTN programmes, privatizations, rights issues, initial public offerings and liability management exercises. He also has extensive experience advising on structured investments, repos, ISDA negotiation and documentation, and has a strong client following among the global and regional securities houses in this space.

He is also particularly active in private equity and M&A transactions and has a focus on projects, energy and resources (both traditional and renewables), consumer and healthcare, technology (including fintech and biotech), real estate, infrastructure and construction sectors. He uses his multidisciplinary expertise to provide clients with valuable insight into complex transactions involving public and private elements, ensuring effective transaction planning, execution and compliance, whilst delivering commercial outcomes.

Philip is also particularly active in advising technology companies from start-ups to fast growing and mid-market businesses to mature global enterprises, as well as technology focused venture capital funds.

In addition, Philip has extensive experience advising on secured and unsecured bank financing transactions including leverage and acquisition financing, pre-IPO financing, mezzanine financing, project financing, refinancings and special situations transactions.

Philip’s clients include corporates, leading banks, NBFIs and other financial institutions, private equity funds, hedge funds, sovereign and quasi-sovereign entities including sovereign wealth funds in their various transactions globally and in particular throughout Asia.

Philip is ranked in Chambers Global, Chambers Asia Pacific, IFLR 1000 and Legal 500 as one of the world’s leading capital markets lawyers and has advised on some of the most significant, award winning, innovative and first-of-kind deals in the Asia Pacific region. Chambers Asia-Pacific, 2022 notes that "he displays excellent technical capabilities along with experience and a calm demeanour. He is pragmatic, commercial and highly responsive", and has been highlighted for his India and Indonesia expertise.

Professional QualificationsAttorney-at-law admitted with the Supreme Court of New YorkBarrister and Solicitor of the Supreme Court of Western AustraliaRegistered foreign lawyer in SingaporeSolicitor of the Senior Courts of England and Wales

EXPERIENCE

Capital markets – debt and equity

  • ZIP Co Limited: Advised on its AUD 400m zero coupon senior convertible notes issue listed on the Singapore Stock Exchange (acted for the Issuer).
  • HCL Technologies Limited: Advised on its USD500m 1.375% senior bond issue in the Reg S and Rule 144A market listed on the SGX (acted for HCL as issuer). This transaction has the highest rated credit ever from India and received deal of year award from India Business Law Journal.
  • PT Sarana Multi Infrastruktur (Persero): Advised on the establishment of a USD2bn EMTN programme and a USD300m 2.05% per cent. Notes which were listed on the SGX (acted for DBS Bank, Mandiri Securities, Merril Lynch, MUFG Securities and SCB as joint lead arrangers and dealers). This deal achieved the lowest spread over the respective US Treasuries ever obtained by an Indonesian Financial Institution.
  • Asianet Satellite Communications Limited (a Kerala based internet services provider): Advised on its initial public offering on the NSE and BSE of India.

Mergers & Acquisition

  • Sino Ocean Capital: Advised the company through its investment vehicle, New Harvest Investments Limited, in its acquisition of a controlling stake in Dasin Retail Trust Management Pte Ltd, the trustee-manager of the Daisin Retail Trust.
  • Monument Mining: Advised on its sale of 100% interest in its Mengapur copper and iron project to Fortress Minerals Limited.
  • Wise Road Capital (global private equity firm): Advised on its acquisition of 100% stake in UTAC Holding, a Singapore headquartered semi-conductor company with product facilities in Singapore, Thailand, China, Indonesia and Malaysia.

Venture capital

  • Point72: Advised on its Series B investment in a global fintech company based in Singapore serving 11 countries and offices.
  • WeRide Inc: Advised the investor in respect of a series D financing for WeRide Inc., an AI company specalising in developing AI for autonomous driving valued at over USD4bn.
  • Verge Investors: Advised on a Series A investment in a technology company specializing in cable landing stations in Thailand and South East Asia.
Languages
  • English
  • Chinese (Mandarin)
  • Vietnamese
Education
  • University of Western Australia, Australia, Bachelor of Laws
  • University of Western Australia, Australia, Bachelor of Commerce (Double majors in Accounting and Finance)
  • Securities Institute of Australia, Australia, Graduate Diploma In Applied Finance And Investment

Awards

  • Leading lawyer – Capital markets, International, Chambers Asia-Pacific, Chambers Global 2013 - 2022
  • Leading individual – Capital markets (Foreign Firms), Singapore, Legal 500 Asia-Pacific 2013 – 2022, IFLR1000 2013, 2019-2022
  • ‘Philip Lee offers a great service – very responsive and able to give clear and useful advice even in high pressure situations.” Legal500, 2022
  • Philip Lee is noted for his debt capital markets expertise and extensive experience in corporate financing. One client remarks: "He is a true subject matter expert when it comes to capital markets work, particularly high-yield bonds and US offerings. He is extremely helpful and is always available when we need him.” Chambers Asia-Pacific, 2021
  • ‘Philip Lee’s contributions have been tremendous in our field of work. His expertise in this area has helped us on many transactions. Apart from his knowledge, Philip has an amazing work ethic and professionalism.’ Legal500, 2021
  • Clients say he is "highly knowledgeable in the area of US debt capital markets," adding that he "brings an astute commercial mindset to the project at hand, is always responsive and is a genuine problem solver." Chambers Global and Chambers Asia-Pacific, 2020
  • "Philip Lee has a long track record and is highly experienced. He consistently provides best in class service. He is trustworthy, exceptionally reliable and regularly goes above and beyond the call of duty." Legal 500
  • "One client appreciates that he is 'always very helpful and very responsive. In addition he has a very good sense of the commercial elements on the deal'." Chambers Asia-Pacific, 2019
  • "He frequently assists prominent global financiers on bond issuances by Indian corporates, especially handling deals in the transportation, energy and infrastructure sectors." Chambers Global, 2019
  • "Philip Lee is praised for his work on MTN programmes and high-yield issuances." Chambers Asia-Pacific, 2018
  • "He is lauded for his 'rich experience, professional approach and understanding of the client's needs', and also highlighted for his India and Indonesia expertise." Chambers Asia-Pacific, 2017

Publications

  • “Singapore incentivises issuers to list bonds on the SGX”
  • “Masala Bonds: Still attractive?”
  • “Indonesia Debt Capital Markets: Key Indonesian law considerations for international DCM issues”
  • “Masala Bonds: Tweaking them into success”
  • “ABS Issues New Listings Due Diligence Guidelines”
  • “Reserve Bank of India allows Indian corporates to issue Rupee denominated ‘Masala’ bonds overseas”
  • “Accessing the International Debt Capital Markets”
  • “Singapore Covered Bonds: Rules, Structures and Issues”
  • “Guide to the Indonesian Equity Capital Markets”
  • “Singapore Business Trusts - Client Briefing”
  • “Structures and considerations for Indonesian international corporate bond offerings”

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