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  1. Capital markets
  2. Leading individuals
  3. Next Generation Partners

Next Generation Partners

  1. 1
    • Noparat Kaewsringarm - Allen & Overy (Thailand) Co, Ltd
    • Sawita Peetawan - Hunton Andrews Kurth LLP
    • Doungporn Prasertsomsuk - Allen & Overy (Thailand) Co, Ltd

Allen & Overy (Thailand) Co, Ltd is considered a go-to firm for capital markets transactions in Thailand. As in other practice areas, the firm's focus is on high-end transactions, often with a cross-border element, where it is able to draw on the expertise of specialists across the ASEAN region and further afield. In 2017 and 2018, the Bangkok team was involved in a number of high-profile IPOs, bond issuances and medium-term note programmes. For example, Stephen Jaggs led a team including counsel Noparat Kaewsringarm that advised Asian Development Bank on its cornerstone investment of approximately $88m in the IPO of Gulf Energy. Further, Suparerk Auychai acted as Thai counsel to Morgan Stanley and Goldman Sachs as underwriters in connection with Singaporean start-up Sea Ltd's IPO of American depository shares (ADS). Debt-side highlights included Jaggs and counsel Doungporn Prasertsomsuk advising the joint lead managers and bookrunners on a THB-denominated bond issuance by Siamgas and Petrochemicals; these five-year bonds are partially guaranteed by the Credit Guarantee and Investment Facility (CGIF) and marked CGIF's first support to a Thai corporate in the THB bond market.

2018 was a year of continued growth for Baker McKenzie's capital markets group, which was marked by the promotions of Kowit Adireksombat and Kammalard Urapeepatanapong to partner. The team has comprehensive coverage of debt and equity matters, with complementary expertise in structured products and derivatives, where Komkrit Kietduriyakul and Benja Supannakul are names to note. The practice group often has a hand in the market's most significant IPOs, such as the recent offering of B.Grimm Power, in which Theppachol Kosol acted for Bualuang Securities, Kasikorn Securities, Phatra Securities, CIMB Securities and Deutsche Bank (Hong Kong Branch). Similarly, Primyadar Duangrat acted for the banks in relation to the IPO of Gulf Energy. Another key contact is Viroj Piyawattanametha, who assisted Ratchaburi Electricity Generating Holding and its treasury arm with a liability management exercise, which included a cash tender offer of existing notes and a parallel issuance of new money notes. Other names to note include Boonyaporn Donnapee and Kitipong Urapeepatanapong.

Linklaters’ strong reputation for banking, corporate and capital markets transactions, combined with its well-established client base of multinational financial institutions, makes it 'a clear first-tier law firm for capital markets work’ in Bangkok. With access to a global network of offices, the team can provide Thai, UK and US legal advice, and is thus positioned to handle Regulation S, Rule 144A, Rule 10b-5 and US SEC registered offerings. Among the department's list of standout deals, Pornpan Chayasuntorn worked alongside colleagues in Hong Kong to advise Gulf Energy on its THB24bn IPO. Similarly, Wanwisar Nakarat acted as part of a cross-office team comprising lawyers in Thailand, Singapore and Hong Kong to advise BNP Paribas as arranger and dealer on the update of RH International (Singapore)'s $1bn medium-term note programme and subsequent issuance of $300m 4.5% notes due 2028. Chayasuntorn jointly heads the team with Wilailuk Okanurak, who stands out for the breadth and depth of her expertise in capital markets and infrastructure funds.

Weerawong, Chinnavat & Partners maintains a busy practice that sees a regular stream of instructions from issuers and underwriters alike. On the equity side, the team assisted Do Day Dream with its IPO on the Stock Exchange of Thailand (SET), which was valued at THB4m, or approximately $123m. In the debt market, the team acted for CGIF, a trust fund of the Asian Development Bank, in relation to the issuance by Siamgas and Petrochemicals of partially guaranteed bonds, which marked CGIF’s first support to a Thai corporate issuing THB-denominated bonds. Senior partner Veeranuch Thammavaranucupt, who heads the capital markets group, has cemented her reputation in the field with involvement in a number of precedent-setting debt and equity offerings. Other names to note include Patcharaporn Pootranon and Khemajit Choomwattana, who have mixed capital markets and M&A practices; Pootranon also has expertise in securities regulations, and Choomwattana has considerable experience with REIT offerings. Senior counsel James Lawden, who is qualified in England and Wales, is another contact in the capital markets group; he has experience working in London, Tokyo and Bangkok.

The capital markets and securities practice at Hunton Andrews Kurth LLP sits within the broader corporate department and handles a mixture of debt and equity capital markets deals, where it acts for underwriters, issuers, sponsors and equity investors. The sub-group was recently bolstered by the arrival of counsel Yaowarote Klinboon from The Capital Law Office Limited. Klinboon handles capital markets transactions alongside the firm’s corporate specialists including Stephen Bennett, who advised International Finance Corporation as subscriber and purchaser on its subscription to Thailand’s first-ever green bonds, which were issued by TMB Bank. Further, a team including Manida Zinmerman advised Cho Thavee on the issuance and allocation of 185,000,000 newly-issued ordinary shares to Macquarie Bank. Senior attorney Sawita Peetawan is another key member of the team.

At Siam Premier International Law Office Limited, Kulkanist Khamsirivatchara has advised corporate issuers on various note offerings and also acts for companies looking to list on the SET. Khamsirivatchara is especially noted for her capital markets regulatory expertise, which puts her in high demand from listed companies seeking regulatory advice on securities and public company law. The practice group has been particularly busy in the debt space, where it advised key client Krunqthai Card Public Company on seven separate bond issuances in 2017. Conversely, in the equity market, a mixed team of corporate and banking lawyers assisted a client with its proposed IPO and listing on the Market for Alternative Investment (MAI). Capital markets transactions also constitute a significant part of Suttiphat Khamsirivatchara’s practice.

Anchored by a largely international client base including major corporate issuers and financial institutions, Tilleke & Gibbins has a notable track record in debt and equity capital markets transactions. For several years, the team has carried a large market share of Thailand's IPO work, though it has also remained active in the debt market. In addition to its transactional work, the practice group also provides regulatory advice on securities concerns such as reporting obligations. Names to note include corporate, commercial and capital markets specialist Kobkit Thienpreecha, banking and finance expert Santhapat Periera and Piyanuj Ratprasatporn, who heads the broader corporate and M&A practice.

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