The Legal 500

Always responsive, hardworking and professional’, Mayer Brown JSM is especially good for debt-side instructions. It advised Elara Capital plc as sole lead manager and bookrunner on listing Hoang Anh Gia Lai JSC with the UK Listing Authority and on its LSE listing in March 2011 – the first by a Vietnamese company. Other instructions included advising on several dollar-denominated bond issuances. The ‘very practical and experienced’ Hoang Anh Nguyen has ‘in-depth knowledge and very good ability to understand well clients’ needs’. Mai Phuong Nguyen is ‘experienced, responsive and creative’, and Dao Nguyen has ‘great in-depth knowledge and is an outstanding lawyer’.

One of the leading local practices, Vilaf – Hong Duc advised ANZ and Hoa Phat Group JSC on a three-year unsecured floating rate bond issuance worth VND800bn in August 2010. It also represented ANZ and Song Da Group on a five-year bond issuance worth VND1.2 trillion, and advised PetroVietnam Insurance on issuing new shares. Tran Tuan Phong has ‘sound knowledge and is very commercial’, and Tran Anh Duc is ‘very good; very bright’.

‘One of the standouts for capital markets in Vietnam’, YKVN advised three of Vietnam’s four big banks on their IPOs in 2008 and 2009, and was local counsel for the joint lead arrangers (Barclays, Citigroup and Deutsche Bank) on Vietnam’s Rule 144A sovereign bond issue in 2010. In 2011, it advised Credit Suisse as underwriter on Vincom JSC’s proposed SGX listing; the lead managers on PetroVietnam’s proposed $1bn international bond issuance; and acted as local counsel in closing Caymans-registered Texhong Textile’s $200m high-yield bond issuance. Truong Nhat Quang and Vu Dzung are excellent.

Audier & Partners Vietnam L.L.C. advised the Vietnamese government on its sovereign bond issuance in 2010. More recently, it advised an international bank on global depository notes linked to Vietnam-listed securities; and is advising a client on plans for a medium-term notes programme. Nicolas Audier is ‘trustworthy, knowledgeable, experienced and responsive’; the ‘very efficient and helpful’ Etienne Laumonier and senior associates Le Thuy Lan and Sean Conaty are the other key lawyers.

Frasers has ‘excellent knowledge, skill sets and response times, with accuracy of advice proved over many years. In a jurisdiction such as Vietnam, obtaining the full picture and options is paramount and this team provides just that’. It advised EVN Telecom on its ongoing equitisation process and the sale of a portion of its chartered capital to strategic investors. It has also been advising on a sizeable proposed bond issuance. Managing partner Mark Fraser is ‘clearly the keystone of the firm with immense knowledge of the Vietnam market and extensive experience across all sectors’; he led senior lawyers Chris Robinson and Nguyen Viet Ha on the EVN Telecom matter. Senior lawyer Justin Gisz is also recommended.

Freshfields Bruckhaus Deringer advised Barclays Capital on agency trading of listed shares; part of Petronas on aspects of Petronas Chemicals’ $4.1bn Malaysian Stock Exchange listing; and is acting for potential buyers of equitised interests in Vietnamese corporations including EVN Telecom. Counsel Jérôme Buzenet provides ‘good knowledge and practical advice on securities and stock exchange matters’, and Tony Foster and senior associate Milton Lawson are also recommended.

Allens Arthur Robinson’s Thomas Miller and senior associate Linh Bui are recommended. The team has been advising VimpelCom on a complex share swap transaction with GTEL-Mobile.

Baker & McKenzie’s Oanh HK Nguyen is recommended for capital markets work. The firm is currently advising a retail sector client on a share issuance.

Gide Loyrette Nouel A.A.R.P.I. advises various banks – including the IFC, BNP Paribas, Citibank and Société Générale – on capital markets regulations. The group fields several capital markets experts including Vietnam managing partner Samantha Campbell and senior associates Huynh Tuong Long and Pham Bach Duong, the latter having joined from Standard Chartered in November 2010.

Hogan Lovells International LLP’s of counsel Nasir PKM Abdul advises on securities, bonds and regulatory matters.

Vietbid Law Firm has advised on the equitisation of several state-owned entities, and recently acted on private share placements. Nguyen Thanh Ha is recommended.

Vision & Associates advised a local client on proposals for a sizeable bond issuance in 2010, and another company on private placement of new shares. Luu Tien Ngoc and Ngo Trung Hieu are the key partners.

Clifford Chance’s Hong Kong office has acted on Vietnam transactions, and has links with Vilaf – Hong Duc.

Shearman & Sterling LLP’s Hong Kong office has capability to act on Vietnam capital markets matters.