Weerawong, Chinnavat & Peangpanor Ltd. (Weerawong C&P) advised Bank of America Merrill Lynch and Phatra Securities Pcl on the issuance and offering of USD 290.4 million 0.5 per cent exchangeable bonds due in 2019. The bonds were issued by CP Foods Holdings Limited (CPFH), a subsidiary of Charoen Pokphand Foods Pcl (CPF), Thailand’s largest agribusiness conglomerate.

The bonds are listed on the Singapore Exchange Securities Trading Limited and are exchangeable into shares of CP All Pcl, Thailand’s largest convenience store operator. They come with a sponsor undertaking from CPF.  The transaction closed on January 15, 2014.

This exchangeable bond with sponsor undertaking is the first-of-its-kind in Thailand.
The Weerawong C&P team included leading partners Peangpanor Boonklum, Veeranuch Thammavaranucupt and associate Chumpicha Vivitasevi.