Deepak Sadasivan

Deepak Sadasivan

Key Practice Areas:

Deepak began his career as a legal assistant at the firm from January 1995 to December 1999 and became a partner in January 2000.

In the first 5 years of his practice, he was extensively involved in corporate work including acquisitions, listings, joint ventures and corporate restructuring exercises, as well as corporate and commercial litigation. Since 1999, he has been primarily involved in capital markets and finance work, and has advised extensively on numerous transactions involving project finance, Islamic finance, derivatives, structured finance and securitisation.

He is particularly experienced in structuring and documenting Islamic financing transactions which include the world’s first exchangeable Sukuk, Malaysia’s first Islamic stapled securities transaction, Malaysia’s first municipal bonds, and the world’s first Green SRI Sukuk. He has advised on the financing of significant Malaysian infrastructure and energy projects, including the privatisation of water supply, independent power plants (having advised on most of the major gas or coal fired power plants in Malaysia over the last decade, as well as more recently solar power plants) and the construction of expressways, railways and light and mass rail transit.

  • LL.M. (Hons) in International Financial Law – King’s College London
  • LL.B. (Hons) – King’s College London

  • Malaysian Bar, 1994
  • Bar of England & Wales, Lincoln’s Inn, 1993

  • English
  • Bahasa Malaysia

  • Ranked as a Band 1 lawyer in Banking & Finance and Islamic Finance by Chambers & Partners
  • Ranked as a leading professional in Capital Markets and Project Finance by Who’s Who Legal Southeast Asia
  • Ranked as an Elite Practitioner in Banking & Finance by Asialaw Profile
  • Ranked as a Hall of Fame lawyer in Banking & Finance, Capital Markets and Islamic Finance by the Legal 500

  • Advising Commerce International Merchant Bankers Berhad in relation to the issue of RM16 billion bonds by Projek Lebuhraya Utara-Selatan Berhad.
  • Advising Commerce International Merchant Bankers Berhad in relation to the issue of RM5,468,153,435 in nominal value of redeemable guaranteed bonds by a government owned entity pursuant to its purchase of the outstanding debts of two light-rail transit concession companies.
  • Advising JP Morgan and Commerce International Merchant Bankers Berhad in relation to the US$414.5 million zero coupon guaranteed exchangeable notes due 2009 exchangeable into ordinary shares of RM0.25 each of PLUS Expressways Berhad issued by Ferringhi Capital Limited and guaranteed by Khazanah Nasional Berhad.
  • Advised CIMB Investment Bank Berhad and Maybank Investment Bank Berhad in relation to a Sukuk issuance of up to RM1.0 billion in nominal value based on the Islamic principle of Murabahah (via Tawarruq arrangement) by Quantum Solar Park (Semenanjung) Sdn Bhd for the financing of three solar power plants with an aggregate net capacity of 150 MWac. The issuance of the Sukuk was made on October 2017 and was the largest green Sukuk in the world.
  • Advised Affin Hwang Investment Bank Berhad in relation to a Sukuk programme for the issuance of up to RM250.0 million in nominal value based on the Islamic principles of Istisna’ and Ijarah and in accordance with the Sustainable and Responsible Investment Sukuk (SRI) requirements under the Guidelines on Unlisted Capital Market Products under the Lodge and Launch Framework by Tadau Energy Sdn Bhd, for the financing of four (4) solar photovoltaic plants with an aggregate net capacity of 50 MWac, all located in Kudat, Sabah, Malaysia. The first issuance of the Green SRI Sukuk under the programme was made on 27 July 2017, and was the first green Sukuk issued in the world.
  • Advised CIMB Investment Bank Berhad, Maybank Investment Bank Berhad and RHB Investment Bank Berhad in relation to a Sukuk issuance of up to RM5.28 billion in nominal value based on the Islamic principle of Wakalah Bi Al-Istithmar by Edra Energy Sdn Bhd for the financing of three generating blocks of gas fired power plant with capacity of 2,242 MW in Alor Gajah, Melaka. This was the largest power plant project in 2017.
  • Advised HSBC Bank Malaysia Berhad and Kenanga Investment Bank Berhad as the joint lead manager in relation to a perpetual notes programme of RM10.0 billion in nominal value by SUNREIT Perpetual Bond Berhad.
  • Advised CIMB Investment Bank Berhad in connection with the Islamic medium term notes programme and an Islamic commercial papers programme with a combined limit of RM5.0 billion established by Digi Telecommunications Sdn Bhd.
  • Acted as Malaysian counsel to Malaysia Sovereign Sukuk Berhad, a special purpose vehicle of the Government of Malaysia in 2015 in relation to the issuance of USD1 billion Trust Certificates due 2025 and USD500 million Trust Certificates due 2045.
  • Acted as Malaysian counsel to Malaysia Sukuk Global Berhad, a special purpose vehicle of the Government of Malaysia in 2016 in relation to the issuance of USD1 billion Trust Certificates due 2026 and USD500 million Trust Certificates due 2046.
  • Advised (i) UBS AG Labuan branch (ii) The Hongkong and Shanghai Banking Corporation Limited Offshore Banking Unit Labuan and (iii) CIMB (L) Limited as Managers in relation to the issuance of USD750 million periodic payment exchangeable trust certificates due 2011 issued by Rafflesia Capial Limited with recourse to Khazanah Nasional Berhad, being the world's first exchangeable sukuk issuance and also being the largest ever exchangeable issuance in Malaysia.
  • Acted for the lead arrangers in relation to Danajamin Nasional’s own issuance of senior/subordinated sukuk Murabahah of up to RM2.0 billion.
  • Advised Aseambankers Malaysia Berhad, the lead arranger, in relation to the securitisation of charge card receivables (first in Malaysia) by way of a RM130 million Medium Term Note programme for Diners Club (M) Sdn Bhd.
  • Advised GE Commercial Finance in relation to the issuance of RM130 million asset backed securities issued by ABS Enterprise One Berhad, being the first securitisation of non-performing loans in Malaysia.
  • Advised Aseambankers Malaysia Berhad and Citibank Berhad in relation to the issuance of RM150 million Credit Linked Notes by Cagamas SME Berhad, being the first synthetic securitisation transaction in Malaysia.
  • Advised AmInvestment Bank Berhad in connection with the securitisation of staff loans originated by Telekom Malaysia Berhad and the corresponding issuance of RM340 million Asset-Backed securities.

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