Global law firm Norton Rose Fulbright has advised DBS Bank Ltd on a S$190m debt refinancing, governed by Singapore law, to Eu Yan Sang International Ltd and certain subsidiaries.

Eu Yan Sang is a leading and trusted integrative health and wellness company that specialises in traditional Chinese medicine and integrative healthcare. It currently runs more than 300 retail outlets in Hong Kong, Macau, China, Malaysia, Singapore and Australia, and operates a chain of TCM clinics in Singapore and regionally.

The refinancing was required following a voluntary conditional cash offer for all the shares of Eu Yan Sang by Righteous Crane Holding, a special purpose vehicle set up by a consortium including comprising the Eu family, Tower Capital TCM Holdings L.P, a Cayman Islands established investment holding vehicle, and Blanca Investments Pte Ltd an indirect wholly-owned subsidiary of Temasek Holdings.

Security was provided by various members of the Eu Yan San Group of companies across Singapore, Hong Kong, Macau, PRC, Malaysia, Australia and the Cayman Islands.

The offer process concluded on 27 September 2016, and delisting of EYSI from the SGX is scheduled to occur on 7 October 2016.

The Norton Rose Fulbright team in Singapore was led by partner Yu-En Ong with assistance from senior associate Janelene Chen and associates Kong Zhenning and Michael Kim. Hong Kong real estate matters were advised on by Polly Cheung in the Hong Kong office. Australian law aspects were advised on by partner Scott Millar with assistance from Adele Gray and Chanel Mercurio in the Melbourne office.