The Legal 500

Allen & Overy (Thailand) Co, Ltd is a global finance powerhouse and its Thailand arm does not disappoint: ‘It is definitely in the first tier for banking in Bangkok’. Under the leadership of the ‘very committed and business-minded’ Stephen Jaggs, lawyers ‘consistently provide value-added advice’ - although some clients argue that ‘value for money is just not a factor when dealing with this firm as excellent advice is always worth paying for’. Among the firm’s recent highlights, it advised International Finance Corporation on a substantial loan to Electricité du Laos and also advised PTT, as borrower, on a $500m club loan.

Baker & McKenzie is the ‘“go-to” firm in Thailand for banking work’ due to the reputation of ‘technical regulatory expert’ Komkrit Kietduriyakul - singled out as ‘unequalled in the derivatives space’. The firm also scores points for its strength and depth: ‘If you need advice on a banking matter, the money market or even securities, Bakers will find an answer.’ Other recommended lawyers include ‘practical’ team head Thinawat Bukhamana, capital markets specialist Viroj Piyawattanametha and ‘rising star’ Benja Supannakul, who is ‘clearly making an increasingly important contribution to the team’. In 2011, the firm acted for True Corporation subsidiary, Real Future, on its THB6.3m bridge loan financing, as well as advising it on the provision of a THB2bn facility to be issued to CAT Telecom.

The team at Linklaters is the ‘gold standard for banking work’, with lawyers praised for ‘commercial nous and efficient deal handling’ as well as for ‘the kind of capable and professional service that you would expect from a leading global firm’. Wilailuk Okanurak is respected for her ‘in-depth knowledge of the market’ and for her ‘strong experience’, and heads a team that includes corporate finance partner Pichitpon Eammongkolchai and newly-promoted partner Wanwisar Nakarat. In a headline deal, the firm advised Sahaviriya Steel on a $1.4bn acquisition financing to purchase Tata Steel’s Teesside Cast Products. Project finance, syndicated loans and real estate finance are also active areas.

Chandler & Thong-ek Law Offices Limited is ‘the first choice counsel for Thai banks’, with the consensus being that Al Chandler is ‘the most high-profile banking partner in the local market’. Clients also single out the services of ‘capable lawyer’ Jessada Sawatdipong and ‘responsive’ corporate finance partner Ratana Poonsombudlert. Although the firm is well-known for its ‘market-leading project finance practice’, it also has strong experience across single-lender loans, syndicated loans, and refinancings. Deals included advising sponsors PTT and Petronas on the $200m development and expansion of the Trans Thai-Malaysia Pipeline.

Clifford Chance (Thailand) Limited’s team is led by the ‘intelligent and informed’ Fergus Evans and includes strongly recommended energy counsel Joseph Tisuthiwongse. The firm has experience in acting for both banks and lenders across project finance, structured finance, syndicated lending and asset finance deals. In 2011, the firm advised Siam Commercial Bank, Krung Thai Bank and TISCO Bank on the provision of a syndicated loan to Sahaviriya Steel Industries and its UK Subsidiary, to acquire the upstream steel production facilities of Teesside Cast Products.

In 2011, Weerawong, Chinnavat & Peangpanor promoted capital markets specialist Kudun Sukhumananda, bringing the total number of partners in the team up to five. Name partner Weerawong Chittmittrapap is ‘experienced and commercial’ and heads a group that includes Troy Schooneman - praised for his ‘in-depth knowledge and experience of pan-Asian markets’. The firm advised the lenders on the provision of a THB13.5bn credit facility to True Visions Group to refinance debt obligations within its Pay TV Group.

Projects powerhouse Hunton & Williams (Thailand) Limited specialises in advising energy and telecoms companies on finance matters, but it also receives a steady flow of instructions from lenders. In a highlight, the firm advised Kasikornbank and Krung Thai Bank on the provision of a THB16bn term loan and working capital facility to Samart. Stephen Bennett and Surasak Vajasit are recommended.

LS Horizon Limited’s team is led by ‘knowledgeable and responsive’ team head Chaipat Kamchadduskorn and includes recommended infrastructure partner Chiridacha Phungsunthorn. Power projects are the mainstay of the practice; it advised Hongsa Power on the mammoth $2.7bn financing for the development and operation of the Hongsa Thermal Mine-Mouth Power Plant in Laos.

Norton Rose (Thailand) Limited provides ‘better service than other firms’ and lawyers attract praise for their ‘good industry knowledge and very good response times’. Somboon Kitiyansub is recommended and advised Bank of Ayudhya on a THB85m short term credit facility granted to The Holistic Health Company.

Siam Premier’s team is led by Suttiphat Khamsirivatchara - recommended by clients for his ‘strong international experience’. The firm acted on several high-value refinancings and structured finance transactions over the past twelve months, but the highlight was advising SF Development Company on obtaining THB6.61bn syndicated credit facilities to construct a shopping complex.

At Tilleke & Gibbins, Santhapat Periera is considered an ‘expert on banking, finance and foreign investment projects’, and Cynthia Pornavalai is also recommended. In addition to conventional finance work, the firm has strength across regulatory issues, structured finance and capital markets. Transactions included advising a consortium of lenders on bids to provide THB15.85bn to a telecoms operator to expand a 3G mobile network.

Deacons specialises in real estate finance, with Jonathan Uchima highly recommended in this area. Clients include major hotel chains such as Marriott Hotels.

LawPlus Ltd advised a Canadian bank on regulatory issues in 2010. Kowit Somwaiya is recommended.

Thanathip & Partners Legal Counsellors Limited is better known for capital markets work but it has solid experience in banking. Lawyers are ‘attentive and precise in their work’, with Thanathip Pichevanichok considered ‘capable and professional’.

Watson, Farley & Williams (Thailand) Limited leverages off its signature maritime practice to offer experience in ship financing matters. Thoresen and Precious Shipping are notable clients.

International Legal Counsellors Thailand is strong on the regulatory side due to the ‘excellent local relationships’ of Jayavadh Bunnag.

The Legists Ltd has a longstanding reputation for energy work and specialises in advising sponsors on project finance matters.