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We have a large, experienced team with a track record of advising on some of Thailand’s most significant financings, on behalf of local and international lenders, and sponsors and borrowers. We have experience with all forms of security arrangements in Thai project financings. As well as being the preeminent project finance firm in Thailand, we cover the full range of banking & finance work. The scope of our expertise includes single lender loans, syndicated loans, and refinancings. We have acted on a number of landmark transactions over the past few years, including BLCP (coal-fired power plant), Rathcaburi (gas-fired power plant), Nam Theun 2 (hydro-power project in Lao PDR).
We represent all the major commercial banks in Bangkok, and the international lenders most active in Thailand. Our local client roster includes Bangkok Bank, Krung Thai Bank, Siam Commercial Bank, Kasikorn Bank, TMB Bank and Bank of Ayudhya.
Our international client list includes JBIC, ADB, BNP Paribas, Mizuho, Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui.
We have strong relationships with the Thai regulators, including Bank of Thailand. In the past, we have advised them on a number of important matters, such as the insolvencies of 56 finance companies, and the restructurings of two commercial banks.
Chambers Asia-Pacific 2011 ranks us as a Tier 1 firm for Banking & Finance, saying “This outstanding practice enjoys a strong relationship with leading Thai banks, including Bangkok Bank, Krung Thai Bank, Siam Commercial Bank and TMB Bank. The team demonstrates finesse in representing local and international lenders, sponsors and borrowers.”
We are consistently ranked as a Leading Firm for Banking & Finance by legal directories. The Asia Pacific Legal 500, which ranks us as a Tier 1 firm, reports that “The firm specialises in advising Thai banks on major projects and maintains enviable international referral links, with one foreign lawyer highlighting it as ‘worth its weight in gold as a partner on the ground’.”
IFLR1000, which also ranks us as a Tier 1 firm for Banking & Project Finance, quotes our clients: “’I like Chandler and Thong-ek the most. It is the number one on the Thai bank side’, says one banking client.’ "Every time we set up syndication, the firm will be a name on there for banks to choose from’.”
Recent experience:
We acted as Thai counsel to lenders, sponsors or borrowers in the following international financings which closed after 1 June 2010 or are in progress:
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Bangchak Petroleum’s 38 MW solar power project, acting for ADB and Mizuho, closed October 2010.
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Trans-Thailand Malaysia pipeline project, Phase II financing, acting for borrower. Closed 15 November 2010.
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Hongsa lignite-fired 1,878 MW power project in Laos PDR, acting for lenders led by BBL. Closed October 2010.
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Historical experience
We have acted for project owners on a number of major industrial projects, which have involved work on major Baht and foreign currency credit facilities. Selected projects include:
General Motors (expansion financing) 2009.
PTT Phenol (petrochemical plant) 2008.
PTT Utility (power plants) 2008.
National Petrochemical (NPC-1 Olefins plant and expansion).
Peroxythai (hydrogen peroxide plant).
PTT Exploration & Production (offshore gas development).
We have acted for foreign lenders on major offshore borrowings by the Kingdom of Thailand, state enterprises and private sector borrowers. Selected project financings include:
 Nam Theun 2 hydropower project.
Ratchaburi Power (IPP Project).
BMA Mass Transit System (elevated railroad).
Theun Hinboun (Lao power project).
Star Petroleum (oil refinery).
Pathumthani Water (water supply).
The firm has represented Thai financial institutions in financings for:
Houay Ho (2002 financing of hydropower project).
Tuntex Petrochemicals (2002 refinancing of PTA and power plant).
Thai Tap Water Supply (2001 financing of water supply project).
The Aromatics (Thailand) (2001 and 2002 partial refinancings).
Thai National Power (2001 SPP refinancing).
Special counsel for Krung Thai Bank, and TISCO in connection with project financings, acquisitions, and SET listings.
We have acted for lenders in the 1998 US$950 million loan to Thai Exim guaranteed by the MOF. C&T represented Thai and foreign lenders in the 1994 US$100 million country loan to the State Bank of Vietnam, and Thai lenders in the 1994 US$50 million country loan to Lao PDR.
We have represented mutual funds in the establishment of more than 10 onshore and offshore mutual funds.
As a result of the above work, we are familiar with documentation and lending requirements of major export credit agencies and international lending institutions.
Contact person: Jessada Sawatdipong
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