The Legal 500

The firm

In Thailand, the firm is licensed to provide the full range of commercial and corporate law services, including cross-border matters under US and UK laws. The firm counsels on energy and infrastructure development, finance and M&A, banking and lending regulations, stock market regulations, securities, tax, government regulations, and foreign direct investment matters.

Areas of practice

Energy: the firm is a leader in Thailand’s power sector, having more than 15 years of experience representing developers, sponsors, lenders and off-takers on a variety of major independent power projects, financings and refinancings, and related acquisitions and divestitures. The firm is representing different project developers for a number of active or potential renewable power projects in Thailand, including a 60MW wind farm in Nakorn Ratchasima Province, a 57MW portfolio of solar projects in Suphanburi and Nakhon Pathom provinces, a 19MW wind farm in Nakorn Ratchasima Province, an 8MW solar installation in Lopburi Province and a 7.5MW wind farm in Chaiyaphum Province. The firm’s Bangkok lawyers are also advising the syndicated lenders on an 8MW solar farm and a commercial Thai lender on a refuse-derived and waste fuel power plant in Saraburi province sponsored by TPI Polene Public Co., Ltd. In addition to domestic matters, the firm continues to advise on regional power matters out of its Thailand office, including project finance deals involving cross-border debt financings. The firm represented Quezon Power (Philippines), Limited Co., the owner of a large coal-fired power project on the Philipine island of Luzon, on its up to US$476.9 m refinancing of Eximbank-backed term debt, US bonds and Philippines notes by the issuance of new secured debt, including US-dollar-denominated notes to Philippine banks led by Banco de Oro and working capital and standby letter of credit facilities from bank of Tokyo Mitsubishi UFJ out of its Manila and Bangkok branches.

M&A: the firm’s Thailand office is very active on deals involving both inbound and outbound M&A. The firm is currently advising the Oranvanich Group, a leading tile manufacturer, in connection with a cross-border acquisition of a chrysotile mine in Canada. The firm also represented Electricity Generating Public Co Ltd, an existing shareholder in the 460MW Quezon coal-fired generation facility in the Philippines, and offshore affiliates in connection with the acquisition for US$375 m of an additional 45.875% stake in the project and all the interests in the management company for the project, Quezon Management Service Inc. In addition, the firm is representing affiliates of Banpu Public Co Ltd in connection with a corporate restructuring of an Australian holding company that indirectly owns a portfolio of coal mining concessions in Mongolia.

Banking and finance; the firm regularly represents publicly held and privately owned financial institutions in Thailand. The firm represented KASIKORNBANK Public Co Ltd as lead arranger on the US$160 m financing of the acquisition and construction of the Thaicom 6 Satellite. The firm also represented Krung Thai Bank Public Co Ltd on an approximate THB8bn loan provided to a joint venture of Italian-Thai Development Public Co Ltd and Sahakol Equipment Co Ltd for their lignite mining project. Also, the firm was selected by Herbert Smith LLP’s London office to act as Thai counsel on a multijurisdictional acquisition financing following the departure of Herbert Smith’s banking team in Bangkok. Seven Thai and foreign banks and Sahaviriya Steel Industries Public Co Ltd instruct the firm as their transaction counsel on more than THB28bn and US$650 mn debt rescheduling and restructuring framework. The firm also acts for Bank of Ayudhya Public Co Ltd, CIMB Bank Thai Public Co Ltd and TISCO Bank Public Co Ltd on their THB5.5bn financing for a local cement manufacturing company on its new production line together with an ECA-backed facility.

Capital markets: the firm advises on transactions ranging from financings by private equity firms to initial public offerings and follow-on offerings. The firm is advising Krung Thai Bank Public Co Ltd, one of the country’s largest financial institutions, on its rights offering of US$1.2 bn which will be the largest equity offering in 2012 and the largest equity offering by a Thai financial institution.

Languages
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Thai

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Member
American Chamber of Commerce
International Bar Association
World Services Group

Number of lawyers 800+

at this office 30+