Chandler Mori Hamada Advises The Electricity Generating Authority of Thailand (EGAT) on Thailand’s Pioneering Sustainability-Linked Bond by a Thai State-Owned Enterprise

Bangkok, Thailand - Chandler Mori Hamada recently advised EGAT on its pioneering sustainability-linked bond issuance. This marks the first sustainability-linked bond issued by a state-owned enterprise in Thailand, representing a significant milestone and paving the way for other state-owned enterprises to follow. This innovative issuance was supported by the Public Debt Management Office, Ministry of Finance of Thailand, with the bond’s interest rate being linked to the achievement of clearly defined and measurable sustainability performance targets. Bank of Ayudhya Public Company Limited (Krungsri) acted as Sole Bookrunner and Arranger.

The team from Chandler Mori Hamada was led by Partner Doungporn Prasertsomsuk, with support from associates Pradchayada Maneeratanapron, Praewa Silapunt and Nichakul Akkaragumtorn.

Doungporn Prasertsomsuk commented, “This is a groundbreaking transaction in the market, with the distinction of being the first Thai state-owned enterprise to issue a sustainability-linked bond. It sets a great precedent for other Thai state-owned enterprises. We are delighted to have advised on this market-leading and historic transaction.”

With a reputation for innovation in Thailand’s debt capital markets, Doungporn Prasertsomsuk is frequently ranked among top-tier professionals by independent global legal publications, underscoring her leadership and expertise in the field. Her team regularly advises on market-leading, novel transactions, including sustainability-linked bonds.

About The Electricity Generating Authority of Thailand (EGAT)
EGAT is a state-owned enterprise under the supervision of the Ministry of Energy and the Ministry of Finance. Its principal mission is electricity generation, electricity acquisition, and electricity sales. EGAT’s sustainability-linked bond aligns with EGAT’s Carbon Neutrality Goal, Sustainability Strategy, the Ministry of Energy’s policy framework, and Thailand’s national carbon neutrality and net-zero ambitions.

About Chandler Mori Hamada
Chandler Mori Hamada is a leading law firm in Thailand. Our firm combines international standards of legal practice with decades of local experience within the Thai legal environment. Our team of more than 100 lawyers in Thailand is recognised internationally for its legal expertise.