Banking and Project Financing｜Chandler Mori Hamada

Chandler Mori Hamada⁠’s large and experienced Banking and Project Financing practice group has a track record of advising on some of Thailand⁠’s and neighbouring countries⁠’ most significant transactions⁠. The group acts for local and international lenders⁠, sponsors and borrowers⁠, and its top tier reputation is linked to long‐standing relationships with major commercial banks in Thailand⁠, and with leading⁠, international financial institutions⁠.

The group has extensive experience in project finance⁠, particularly on cross‐border transactions⁠, and its full range of legal expertise includes⁠: syndicated loans⁠, single‐lender loans⁠, project financings⁠, refinancings⁠, and all forms of security arrangements⁠.

Some Representative Transactions:

Acquisition and corporate financing

HSBC, Dentons UK and Middle East LLP: advised on the corporate financing of Fosroc Group, a global manufacturer of high-performance chemicals and materials for the Construction industry.
Asian Development Bank, Export-Import Bank of Thailand, and Japan International Cooperation Agency: represented Asian Development Bank, Export-Import Bank of Thailand, and Japan International Cooperation Agency on a 3.9 Billion Baht syndicated loan for Energy Absolute Public Company Limited (EA) to purchase electric buses.
OCP Asia: represented OCP Asia in relation to a structured financing transaction for Asia Digital Engineering Sdn Bhd, a SEA-based aviation maintenance repair and overhaul company and a subsidiary of Capital A Berhad (Air Asia).

Cross-Border Projects

Syndicated lenders: advised syndicated lenders in the financing of the 1⁠,460 MW Luang Prabang Hydro Power Project⁠. This involved drafting and negotiating the term sheets for the financing as well as conducting legal due diligence exercises on the project⁠.
Lenders: representing, as co-lead counsel, a group of lenders in financing the development of a 770 MW run-off-river hydroelectric power plant in the Pak Lay District, Lao PDR.
Lenders: advising the lenders in relation to the long term limited-recourse project financing of the development and construction of a 912 MW run-of-river hydropower project by Pak Beng Power Company Limited located in Pak Beng District, Oudomxai Province, Lao PDR.
Lenders: advising on the Financing for the development and operation of a 257 MW solar power plant in Vietnam⁠. This solar project⁠, which is based in Hoa Hoi⁠, Phu Yen Province⁠, will be Vietnam⁠’s largest single operating solar power plant and one of the largest in Southeast Asia⁠.
Syndicated lenders: advising syndicated lenders in relation to the financing to Ray Power Supply Co⁠.⁠, Ltd⁠. for the construction⁠, development and operation of solar project with an installed capacity of 30 MW located in Cambodia⁠.

Major Energy Projects⁠: Thailand

Syndicated lenders: advising syndicated lenders in relation to the refinancing of the existing syndicate project financing for three cogeneration power plants with aggregate capacity of 468 MW⁠. This involved preparing the project refinancing and security documents⁠, reviewing and assisting with the release of the existing security package⁠, and conducting legal due diligence for the deal⁠.
Lenders: advising Bangkok Bank⁠, Government Savings Bank and Industrial and Commercial Bank of China (⁠Thai⁠) on the THB 3⁠,243⁠,000⁠,000 financing of the development⁠, construction⁠, operation and maintenance of one Small Power Producer (⁠SPP⁠) gas-fired combined cycle cogeneration power plant project⁠.
B⁠.Grimm Power Public Company Limited⁠: advising B⁠.Grimm Power PCL, the sponsor⁠, on the non-recourse financing for the development of seven small gas-fired power plants⁠.

Renewable Energy Projects⁠: Thailand

Lomligor Co⁠.⁠, Ltd⁠., a subsidiary of BCPG PLC: advised on the financing of a 10MW wind power project in Nakhon Si Thammarat province⁠, Thailand⁠.
Levanta Renewables (Thailand) Co., Ltd.: advised Levanta group, comprising nine Project Companies, in securing project financing from Thai lenders for 24 solar energy projects.
Energy business: represented an investor and operator of decentralized solar photovoltaic and energy efficiency projects in relation to obtaining financing from a prominent financial institution for investment and/or reimbursement of the company's equity used for investment in 41 solar power plants with an installed capacity of 56.69 MW owned by the company.
A Thai lender: advised on the financing of a SPP hybrid power plant combining a biogas generation system with a solar PV ground mounted with tracking system and energy storage system⁠. This SPP hybrid power plant is unique in Thailand in its hybrid use of solar⁠, biogas power and battery storage to generate electricity⁠.

Infrastructure / Real Estate Projects⁠: Thailand

Bangkok Bank Public Company Limited: represented Bangkok Bank Public Company Limited on two facilities agreements in relation to the Orange Line Mass Transit Project.
Major energy and telecommunications enterprises: acting as legal advisor for a data center company in relation to the long-term limited recourse project financing of a 24 MW data center project in Thailand.
Bangkok Bank and China Development Bank⁠, Guangdong branch as Thai lenders⁠’ counsel: assisting on the financing of a 343-kilometer fuel oil pipeline covering five provinces from Saraburi Province to Khon Kaen Province and associated storage facilities in Khon Kaen Province⁠.
Global development institution: representing a global development institution in a complex financing transaction, providing USD loans to a company for constructing and operating a greenfield plastic recycling plant.
Hankyu Hanshin Properties Corp: represented Hankyu Hanshin Properties Corp, a major Japanese developer, in investing in various condominium and townhouse projects in Bangkok.
N.C.C. Management and Development Co., Ltd.: represented N.C.C. Management and Development Co., Ltd., as borrower, in financing the reconstruction of the Queen Sirikit National Convention Center, with the lenders being the Government Savings Bank and the Export-Import Bank of Thailand.