A&O Shearman advises initial purchasers on Grab’s USD1.5 billion convertible senior notes offering

The offering, initially launched at USD1.25bn, was upsized to USD1.5bn in response to strong investor demand, making it one of the largest tech convertible offerings in Southeast Asia this year.

Grab is a leading technology company and superapp that provides mobility, deliveries, and digital financial services in eight countries across Southeast Asia. Its platform enables millions of users to order food and groceries, send packages, hail rides, make payments, and access services such as lending and insurance.

A&O Shearman acted as U.S. counsel to the initial purchasers, advising on cross-border capital markets aspects of the transaction. The successful completion of the offering underscores investor confidence in Grab’s long-term growth strategy and the broader Southeast Asian technology sector.

The A&O Shearman team was led by partners Kyungwon (Won) Lee in Hong Kong and Michael Kim in New York.

The cross-border deal team also included partners Harald Halbhuber, Geoffrey Goldman, and James Yao, of counsel Hae-Ran Song, senior associate Rami Marginean, and senior legal assistant Derek Perriam. Larry Crouch and Austin Jones advised on tax matters, while Agnes Tsang and Gordon Ng advised on certain Hong Kong aspects of the transaction.