Paul Hastings Advises Underwriters on Travellers’ US$405 Million Philippine IPO

Paul Hastings, a leading global law firm, announced today that it advised the international underwriters on the US$405 million initial public offering by Travellers International Hotel Group, Inc. (“Travellers”) and the listing of its shares on the Philippine Stock Exchange. Travellers, a joint venture between Genting Hong Kong Limited and Philippine conglomerate Alliance Global Group, Inc., is the developer and operator of Resorts World Manila, the first integrated tourism resort in the Philippines. The IPO proceeds will be used to expand Resorts World Manila.

Bank of America Merrill Lynch, CIMB, Maybank Kim Eng, Religare Investment Banking and Securities and UBS acted as the joint global coordinators, international bookrunners and international lead managers. The international co-bookrunners were CLSA, Credit Suisse and Morgan Stanley. BDO Capital, Maybank ATR Kim Eng and UBS acted as domestic lead underwriters.

This deal and other recent Philippine transactions demonstrate our expanding practice in growth markets globally. The Paul Hastings team was led by partners Patricia Tan Openshaw and Steven Winegar, with support from associate Jordan Baggs.

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