Rachel Leong is a Partner in the firm’s Banking & Finance Practice.
Rachel advises major banks, financial institutions, syndicated lending groups, trustees, funds, REITs, listed companies, private equity sponsors and major corporates on a broad spectrum of domestic and cross-border financing transactions. Her practice encompasses real estate and development financing, acquisition and leveraged financings, bilateral and syndicated lending, corporate and working capital facilities, secured and unsecured lending, as well as complex multi-jurisdictional financing structures across Asia.
In addition to her transactional practice, Rachel is actively involved in the development of advocacy and legal education initiatives. She serves as Assistant General Secretary of the Advocacy Committee of The Law Society of Singapore and oversees the first structured advocacy-training programme in Singapore for corporate lawyers and in-house counsel, teaching them to persuasively advocate before boards, regulators and stakeholders.
Rachel also teaches Aviation Finance at the National University of Singapore (NUS), where she shares practical insights from her experience advising on complex asset-backed and cross-border aviation financing transactions.
EXPERIENCE
Banking & Finance
- Advised on a S$2.1 billion acquisition financing for the proposed acquisition and potential privatisation of a Singapore-listed REIT.
- Acted for a club of international lenders in relation to a US$110 million acquisition financing supporting the take-private acquisition of a Singapore-listed industrial services and energy solutions group by a private equity-backed purchaser.
- Acted for a multilateral credit enhancement institution established by ASEAN+3 governments and the Asian Development Bank in connection with a pioneering S$100 million guaranteed social bond issuance by a Singapore-listed healthcare REIT. The transaction was notable for combining debt capital markets execution with a highly structured cross-border credit enhancement and security framework involving healthcare real estate assets, offshore shareholdings, standby letter of credit support and cross-border security enforcement arrangements across multiple jurisdictions. The transaction represented Singapore’s first healthcare social bond and the REIT’s first guarantee supporting a social bond issued within the Singapore REIT market.
- Acted for a syndicate of major financial institutions on a S$450 million secured acquisition financing supporting the acquisition of a 12-asset hospitality portfolio in Singapore. The transaction represented one of the largest Singapore hotel portfolio financing transactions completed during the year.
- Acted for the sponsor-owned borrower group in relation to an approximately US$84 million development financing provided by a leading Singapore bank for the construction of a luxury 130-room Hyatt-branded resort in the Maldives.
- Acted for leading bank on the refinancing of a S$100 million multi-currency revolving credit facility provided to a Singapore-listed real estate group.
- Acted for a leading Asian airline on the US$170 million financing supporting a significant fleet acquisition programme involving next-generation Airbus aircraft.
- Acted for a Hong Kong private equity firm in a joint venture with the real estate arm of a European multinational financial services company to secure more than S$1.6 billion in credit facilities from a syndicate of lenders to fund the acquisition of shares in an SPV holding premium-grade office spaces.
- Acted for Maybank in connection with a S$250 million murabaha facility to the Royal Group for financing certain requirements of Raffles Sentosa Resort & Spa Singapore and Sofitel Singapore Sentosa Resort & Spa. The murabaha facility was structured as a green facility and is the world’s first green Islamic facility in the hospitality sector, as well as Royal Group’s first foray into sustainable finance.
- Acted as Singapore counsel to a Russian bank in the review of a framework agreement for the purchase and sale of precious metals with a local borrower.
- Acted for a local bank in granting facilities for the construction of MRT stations on the Thomson-East Coast Line.
- Acted for a Hong Kong private equity firm in obtaining S$710 million in credit facilities to finance the acquisition of a commercial building.
- Acted for a joint venture by local developers and a foreign listed company in obtaining credit facilities of approximately S$350 million from a syndicate of lenders for the purpose of financing the acquisition and construction of an executive condominium.
- Acted for local and foreign banks in the review and update of their standard forms (e.g., General Terms & Conditions, etc.) in relation to the ipso facto clauses in the Insolvency, Restructuring and Dissolution Act 2018 as well as replacement of screen rate to track the latest APLMA recommended language.
- Acted for a local bank in the grant of credit facilities of over S$150 million for purposes of the construction of an international school in Singapore.
Corporate Real Estate
- Acted for a private investor in obtaining credit facilities of more than S$260 million from a local bank for the acquisition of a 20-storey conserved building with more than 100 service apartments in Raffles Place.
- Acted in the sale of an industrial property for a sale price of more than S$100 million.
- Acted in the sale and carving out of 199 years’ leasehold interest from a row of freehold conserved shophouses in Chinatown.
MEMBERSHIPS/DIRECTORSHIPS
- Assistant General Secretary, The Law Society of Singapore, Advocacy Committee – 2025 to present
- Member, The Law Society of Singapore, Corporate Committee – 2025 to 2026
- Lecturer, “Aviation Finance” elective, National University of Singapore (NUS) – 2025 to present
