Experience in Cross Border Syndicated Foreign Currency Facilities and Securitization
The Firm has acted as the lead drafting lawyer of loan and security documentations for numerous cross border syndication financing involving eminent foreign agencies such as CDB, ADB, IDB, DEG, FMO extending credit facilities to local companies. Besides drafting, the Firm has also been engaged as consultant in lending transactions involving various foreign banks and institutional investors. Some of the cross border transaction where the Firm has been involved include syndicated financing by HSBC, London to AbulKhair Steel Melting Limited, Bangladesh, financing by Mashreq Bank, Dubai to a local power project, financing by IFC as well as Bill and Melinda Gates Foundation to a local mobile banking company, syndicated financing to Regent Power by local banks as well as foreign institutional investors etc. The Firm has experience in advising both the investors/lenders and borrowers.
Experience in Telecom Projects in Bangladesh
Ever since the opening of the telecom sector for private sector, the firm has been involved in almost all ground breaking telecom projects most notably the acquisition of Pacific Telecom by SingTel, acquisition of partial shares by NTT Docomo of Robi Axiata Bangladesh Limited, IPO of Grameen Phone Limited, acquisition of GrameenPhone IT Ltd. by Accenture and currently merger of two mobile phone operators namely RobiAxiataLimited and Airtel Bangladesh Limited in Bangladesh.Additionally, the head of the chamber, Mr. Tanjib-ulAlam acted as the lead lawyer in a number of bond (secured and unsecured) transactions through privateplacement involving telecom companies and banking sector.
Experience in Corporate and M&A
The firm has unmatched experience in corporate and M&A. It has carried out numerous merger and acquisitions. The firm has advised and acted as counsel for various cross border mergers, acquisitions and takeovers, including the largest merger in the history of Bangladesh between two telecom giants, Robi Axiata Limited and Airtel Bangladesh Limited. The Firm also acted as local counsel in acquisition of shares by Alipay in bKash Limited, the largest mobile financial service provider in Bangladesh. The firm also acted as local counsel (for seller) in acquisition of majority shares of Grameenphone IT Limited by Accenture. The firm also acted as lead counsel in various other merger and acquisitions involving local companies. It has also advised and acted as counsel for merger between Shahjanullah Power and United Power. In addition, the firm acted for acquisition of GrameenPhone IT Ltd. by Accenture Ltd.
Experience in Mobile Financial Services
The firm can proudly claim that it has most extensive knowledge and expertise in respect of mobile financial services in Bangladesh. The firm has been working with the pioneers in mobile financial service providers in terms of regulatory, corporate restructuring and other business issues. Most notably, the firm acted as a counsel on behalf bKash Limited in acquisition of shares by Alipay in bKashLtd. which involved advisingon, amongst others, regulatory, corporate, cross border transaction and intellectual property issues. The firm has been providing services to bKash Limited on a regular basis in respect of regulatory and other business issues including issues touching upon compliance with the MFS Guidelines, compliance with AML policy, maintaining KYC, data protection, transfer of data/information etc. Moreover, the firm advised Rocket, a mobile financial service company in Bangladesh in obtaining license and advised on regulatory issues including data protection, AML compliance, handling customer complaint.
The firm also advised SureCash in various regulatory and business issues. Apart from the above, the firm also advised various international law firms like Allen &Overy and Linklaters on issues relating to regulatory requirements of conducting mobile financial services in Bangladesh. The head of the Chambers Mr. Tanjib-ul Alam was also involved in framing of MFS Guideline, 2018. The firm also advised various financial technology service provider companies on regulatory issues in respect of data protection and transfer of data.
The firm advised various clients in obtaining exemption from Bangladesh Bank in respect of remittance of foreign currency, exemption from Bangladesh Investment Development Authority (BIDA) in respect of maintaining branch/liaison office in Bangladesh.
Experience in establishment of Project Company, Turnkey contracts and O&M Contracts:
- Advised Confidence Power Holdings Limited in the development of the power plant, oil supply contract, EPC contract for construction of sub-station, Civil Construction Contract, and so forth.
- Acted as a lead counsel for United Power Generation Company Limited (“UPGCL”) in establishing a power project in Ashugonj including preparation of tender documents, vetting of legal documents, negotiating etc. Also advised UPGCL for their two other power projects located in Chittagong Export ProcessingZone and Dhaka Export Processing Zone.
- Acted as a lead counsel for Khulna Power Company Limited during establishment of the project. The responsibilities carried on by the Firm include preparation of tender documents, vetting of agreements, negotiation etc.
- Advised United Power, Hosaf Power, Energypac, Precision Energy, and many other companies in EPC and turnkey contracts, including oil supply contract, sub-contract EPC contract for engine generator sets and so forth;
- Advised Kushiara Power Company Limited and Orion Power Limited during establishment of the project companies.
- Acted as a lead counsel for Desh Energy Limited for a syndication loan for their power project; Acted as lead counsel in closing two syndicated transactions involving two rental power projects; and worked in two coalbased power projects and one gas based project in Khulna and Sunamganj districts. Worked on cross border syndicated financing in a melting project where Allen &Overy acted as the foreign counsel.
- Advised Globeleq during merger and acquisition of AES-Meghnaghat and AES-Haripur power projects. Subsequently, advising Globeleq during the sale of AES projects;
- Acted as counsel for lender (a multinational bank) in inter-creditor loan agreement, term loan facility and other finance and security documents in the project financing in power sector for a large local energy conglomerate.
Arbitration, recovery, litigation:
- Substantial experience in arbitration before Bangladesh Energy Regulatory Commission: represented United Power, Regent Power, PGCL, Quantum power, Confidence Power and so forth.
- Acted as lead counsel in several litigations for energy companies in high court and appellate division.