Trevor CHUAN

Significant transactions that Trevor has been involved in include advising / acting for the following:

• Frasers Property Limited and Frasers Property Treasury Pte. Ltd. in the reconfiguration of its Euro Medium Term Note ("EMTN") programme to accommodate the exempt bond issuer framework and seasoning framework under a separate retail trustee and agent, and its issuance of S$500 million 4.49% green bonds under the exempt bond issuer framework to retail investors. This transaction represents the first corporate issue of retail green bonds in Singapore.
• Arranger (DBS Bank Ltd.) and programme dealers (DBS Bank Ltd., Oversea-Chinese Banking Corporation Limited and United Overseas Bank Limited) in the establishment of Singapore Airlines Limited's S$2 billion Medium Term Bond Programme (the "Programme"), where bonds under the Programme may be issued under the exempt bond issuer framework or the seasoning framework to retail investors, and the issuance of S$750 million 3.03% bonds due 2024 under the exempt bond issuer framework.
• The notes trustee (DBS Trustee Limited) and the paying agent (DBS Bank Ltd.) in the issuance of US$562 million in aggregate principal amount of asset-backed securities by Azalea IV Pte. Ltd. (a subsidiary of Temasek Holdings (Private) Limited), comprising 3 classes of notes backed by cash flows from a portfolio of private equity funds, which included a tranche targeted at retail investors in Singapore.
• Various high-grade issuers, including Keppel Corporation Limited, CapitaLand Integrated Commercial Trust and Frasers Logistics & Commercial Trust in the establishment of their digital commercial paper programmes on DBS's FIX Marketplace, which is Asia's first fully digital and automated fixed income execution platform.
• United Overseas Bank Limited, as Singapore counsel, in its the establishment of aits S$5 billion EMTN programme and update of the EMTN programme to a US$1,530 billion Global Medium Term Note programme, and the issuance of various series of medium term notes (including Tier 2 subordinated notes) and Additional Tier 1 perpetual capital securities thereunder.

• DBS Bank Ltd., The Hongkong and Shanghai Banking Corporation Limited (HSBC Bank) and Standard Chartered Bank in a commercial mortgaged back securitisation of receivables from Raffles City complex. This deal won the IFR Asia Awards - Securitisation Deal of the Year 2011 and IFR Global Awards - Asia Pacific Securitisation of the Year 2011.

Related Practice

• Debt Capital Markets
• Sustainability & Responsible Business

Trevor is recognised by Chambers Asia Pacific for his DCM expertise, advising on MTN programme establishment and multicurrency debt issuances. A source considers "his greatest strength to be his ability to apply his legal skills with a deep knowledge of financial statements." Another interviewee says, "he understands the situation well and is always able to advise with a high level of professionalism. His understanding of the market and commercial awareness gives us confidence in our decision-making."

Trevor continues to be ranked as a highly regarded lawyer for his work in capital markets by IFLR1000 – The Guide to the World's Leading Financial Law Firms.