KWM is pleased to have advised Tikehau Capital Limited (Tikehau) and long-standing client UOB Kay Hian (UOBKH) on the US$60 million financing for Cladtek Holdings Pte. Ltd. (Cladtek). This financing is the first deployment from a joint fund established by Tikehau and UOBKH in February 2024 to support their Asia-Pacific private credit strategy.
The KWM team played a pivotal role in structuring and documenting the multi-jurisdictional matter to ensure credit protection and risk mitigation for the clients.
Tikehau is a prominent European-based private credit fund, and Singapore-based UOBKH is one of Asia’s largest brokerage firms.
The funds provided will strengthen Cladtek’s position as a global leader in pipeline cladding and weld overlay products, which are crucial for the safe transport of liquids and gases. Cladtek is headquartered in Singapore with manufacturing facilities in Indonesia, Brazil and Saudi Arabia.
The KWM team was led by Singapore Banking and Finance Partner John Shum, with support on the transaction’s M&A aspects from Partner Nicola Yeomans. They were supported by Senior Associates Sandy Yeung, Shenn Tan and Yin Ma, Associates Jasmin Chan and Diksha Maneshwari, and Legal Executive Michelle Huang.
Reflecting on the significance of the deal, John Shum said:
“We are thrilled to have advised Tikehau Capital and UOB Kay Hian on this landmark US$60 million financing. This investment not only marks Tikehau’s first foray into the Asia-Pacific private credit market but also highlights our commitment to delivering tailored, innovative financing solutions that meet the unique needs of our clients. This transaction is another example of KWM supporting Asia-based clients to capitalise on regional opportunities, driving growth from Asia to the world.”
