Doreen Sim is a senior partner in our Finance practice. She specialises in general banking, finance and security transactions. She advises banks, financial institutions and borrowers on a wide range of loan and other debt related transactions (both locally and internationally) including bilateral, club and syndicated loans (encompassing cross border and multi-currency transactions), project finance, acquisition and asset financing, risk and funded sub-participations, transferable loans, loans with embedded debt-instrument or share conversion options, assignment and novation of loans and securitisations.
Doreen has been involved in the structuring of loans and other financial transactions and is familiar with a myriad of loan and security documentation, including, debentures, assignments, charges, deeds of subordination and funding undertakings as well as guarantees and indemnities, priority sharing deeds and intercreditor agreements.
Doreen has advised on banking and other financial laws and regulations, electronic banking and derivative transactions, bankruptcy and insolvency laws and debt restructuring and has undertaken the review of account opening and other standard forms and banking documents for banks and financial institutions.
- The lenders to the Marubeni Consortium comprising Kansai Electric, Kysushu Electric Power, Japan Bank of International Co-operation and GDF Suez: Representing in the S$2.9 billion acquisition financing and JPY67 billion repowering of Senoko Power. Senoko Power is Singapore's largest power generation and retail company. This deal won the Singapore M&A Deal of the Year and was finalist for the Singapore Deal of the Year at the Asian Legal Business SE Asia 2009 Law Awards.
- Special purpose vehicle of MGPA: Acting in the grant of S$1.939 billion development loan facilities by a syndicate of banks arranged by Development Bank of Singapore, Oversea Chinese Banking Corporation, United Overseas Bank and Hypo Real Estate Singapore Corporation Private Limited for the refinancing of the acquisition and development of Asia Square Tower 1 in Singapore.
- The Manager of Far East Hospitality Real Estate Investment Trust: Acting in the grant to Far East Hospitality Real Estate Investment Trust of unsecured facilities aggregating S$725 million from Development Bank of Singapore, Hongkong and Shanghai Banking Corporation and Oversea Chinese Banking Corporation respectively, and in the related swap transactions.
- A syndicate of nine banks: Acting in the grant of S$700 million term loan facilities to HSBC Institutional Trust Services (Singapore) Ltd as trustee of Suntec REIT to refinance its existing loans, secured against Suntec City Mall.
- Standard Chartered Bank and The Bank of Tokyo-Mitsubishi UFJ (the Arrangers): Acting in the grant of a syndicated S$650 million term loan facility to HSBC Institutional Trust Services (Singapore) Limited in its capacity as trustee of the real estate investment trust known as the "CapitaCommercial Trust" to finance the acquisition cost of One George Street in Singapore.
- Special purpose vehicle of MGPA: Acting in the grant of S$645.5 million bridging loan facilities by Oversea Chines Banking Corporation, Development Bank of Singapore, Hypo Real Estate Capital Singapore Corporation Private Limited and United Overseas Bank for its acquisition of Land Parcel 720 at Marina View.
- MGP Raffle Pte Ltd: Acting in its syndicated S$624 million term loan facilities arranged by Oversea Chinese Banking Corporation to refinance its existing loans secured against 8 Shenton Way, an office building in Singapore.
- A Singapore developer: Acting in the grant of facilities of more than S$600 million from Oversea Chinese Banking Corporation, United Overseas Bank and Hongkong and Shanghai Banking Corporation to finance its acquisition and development of a land parcel at Venture Avenue in Singapore.
- A syndicate of four banks: Acting for a syndicate of banks comprising Maybank, United Overseas Bank, Oversea Chinese Banking Corporation and Hong Leong Finance Limited (HLF) in their grant of approximately S$550 million facilities to a joint venture company to finance the purchase of Prudential Tower in Singapore.
- United Overseas Bank, Development Bank of Singapore and The Bank of Tokyo-Mitsubishi UFJ: Acting in the grant of a S$547.77 million facility to a joint venture company formed by Wing Tai Holdings Limited and City Development Limited to finance the en bloc acquisition of 18 Anderson Road in Singapore and its development into a condominium.
- A syndicate of five banks: Acting in a S$496 million loan facility to Starhill Global REIT. The facility was secured against Starhill's interest in shopping and office complex Ngee Ann City in Singapore.
- Oversea Chinese Banking Corporation, Development Bank of Singapore and United Overseas Bank: Acting in the grant of S$480.5 million bridge facility to a special purpose vehicle of Asiamalls to finance its acquisition and development of The Nex, a 7-storey retail complex in Singapore
- Development Bank of Singapore: Acting in its grant of transferable loan facilities of up to S$435.8 million in a joint venture vehicle formed by, inter alia, Perennial Real Estate group, for its purchase and refurbishment of Chinatown Point, a commercial building in Singapore.
- Commonwealth Bank of Australia (CBA): Acting in the grant of JPY13 billion financing to HSBC Institutional Trust Services (Singapore) Ltd as trustee of Starhill Global REIT, secured against the units of Ngee Ann City owned by the REIT. Also acted for the existing lenders viz., Development Bank of Singapore, Oversea Chinese Banking Corporation, CBA, Societe Generale and ING Bank N.V. in their security sharing arrangements with CBA as lender of the new financing.
- Development Bank of Singapore (DBS) and Standard Chartered Bank (SCB: Acting in the grant of approximately S$300 million offshore facilities to a Trust and certain of its subsidiaries to refinance their existing facilities and for general corporate funding purposes. Also acted as Singapore counsel to the Chinese Affiliates of DBS and SCB in the grant of approximately RMB30 million onshore facilities to a Chinese subsidiary of the Trust to finance its capital expenditure on a mall in Chengdu.
- United Overseas Bank: Acting in the grant of a term loan facility, approximately HKD600 million, to various special purpose vehicles in connection with the acquisition of the 18th to 22nd floors and 25 car park lots in Tower B of Kowloon Commerce Centre, a 33-storey Grade A office building located in Kowloon, Hong Kong.
- HSE Holdings Pte Ltd (HSE): Acting in the acquisition from Mauritius fund Pallas 28 Investments Limited, of its entire interest in Emerald Land Pte Ltd (Emerald), developer of the condominium development 111 Emerald Hill, a high-end residence located near Orchard Road in Singapore. This transaction is unique and is believed to be the first in Singapore with approval for the share sale of a developer company holding a Qualifying Certificate to an unrelated Singapore party and for the developer company to obtain a Clearance Certificate under the Residential Property Act.
- IFLR1000: Leading Lawyer for Financial and Corporate Law, 2017
- IFLR1000: Leading Lawyer for Banking, 2011, 2013–2016
- Asialaw Profiles: Leading Lawyer in Banking & Finance (Singapore), 2011 – 2016
- Chambers Asia Pacific: Leading Lawyer in Banking & Finance, 2009 – 2016
- Chambers Global: Leading Individual in Banking & Finance, 2009, 2010, 2012–2016
- The Legal 500 Asia Pacific: Recommended lawyer for Banking and Finance, 2007/2008, 2008/2009, 2010/2011, 2012 – 2016
- Who's Who Legal: International Who's Who of Banking Lawyers in Singapore, 2014
- Who's Who Legal: International Who's Who of Business Lawyers for Banking Practice, 2011, 2012
- ''Senior partner Doreen Sim is respected for her "commercial approach," according to a client. "She is always ready to give advice. Her drafting, negotiation skills are exceptional," says another client." – Asialaw Profiles: Banking & Finance, 2015
- "The firm's banking and finance team, which features key partner Doreen Sim ... is praised by a client for providing "fair and commercial-minded advice" and "quick turn-around times" – Asialaw Profiles: Banking & Finance, 2014
Honors and Awards
- Finance Monthly: Winner of Global Award for Achievement, 2010
- Co-author, "Existing Tenant Triumphs Over Subsequent Mortgagee", Rodyk Reporter - Business Bulletin, October 2015
- Co-author, "A Relook At Non-Reliance Clauses: The Aftermath Of ALS Memasa And Another v UBS AG", Rodyk Reporter - Business Bulletin, September 2012
- Co-author, "Our (Banking) Secrets Are Safe For Now", Rodyk Reporter - Business Bulletin, June 2010
- Co-author, "Revised Property Fund Guidelines Enhances REITs Regulatory Regime", Rodyk Reporter - Business Bulletin, December 2007
- Co-author, "Creation Of Fixed Charges Over Book Debts", Rodyk Reporter - Property Notes, September 2005
Activities and Affiliations
- Common Securities: Issues and Limitations, October 29, 2010
- Seminar on Corporate Governance - PRAC Conference, October 1, 2007
Prior and Present Employment
- Senior partner - Dentons Rodyk (formerly Rodyk & Davidson LLP) (2003 - present)
- Lee & Lee, 1992 - 2003
- Allen & Gledhill, 1990 - 1992