Jongtip Tangsripairoje is a senior associate in the capital
markets practice group at Weerawong C&P. She has substantial experience in debt market
offerings, as well as banking and finance matters. Recent
Experience International Debt Offerings
Representation of BNP Paribas, Citigroup Global
Markets Inc., Standard Chartered Bank, and The Hongkong and
Shanghai Banking Corporation Limited on (i) the establishment of USD 2
billion Global Medium Term Notes Program by PTT Public Company Limited (PTT)
and PTT Treasury Center Company Limited (PTT TCC) and (ii) the issuance of USD
700 million 3.70% Senior Unsecured Notes due 2070 by PTT TCC and guaranteed by
PTT) under the Program. The tenor of the notes is 50 years, and the issue date
of the notes was 16 July 2020.
Representation of PTT Exploration and Production Public
Company Limited Group in the issuance of the long-term senior notes by
PTTEP Treasury Center Company Limited in an aggregate principal amount of USD
500 million with the fixed interest rate of 2.587% per annum with the tenor of
7 years under the USD 3 billion Global Medium Term Notes Program. Payments
under the notes are guaranteed by PTTEP. The settlement date for the
transaction was 10 June 2020.
Representation of PTT Exploration and Production Public
Company Limited Group in the exercise of liability management. The
transaction comprised (i) partial tender for purchase of USD 700 million senior
notes issued by PTTEP Canada International Finance Limited, and (ii) the
issuance of the long-term senior notes by PTTEP Treasury Center Company Limited
in an aggregate principal amount of USD 350 million with the fixed interest
rate of 2.993% per annum and the maturity date of 15 January 2030 under the USD
3 billion Global Medium Term Notes Program. Payments under the Notes are guaranteed
by PTTEP. The settlement date for the transaction was 15 January 2020.
Representation of Citigroup Global Markets Limited, The
Hongkong and Shanghai Banking Corporation Limited, ING Bank N.V.,
Singapore Branch as dealers in relation to the issue of USD 400,000,000
4.90 per cent Perpetual Additional Tier 1 Capital Securities issued under the
USD 3,000,000,000 Euro Medium Term Note Programme by TMB Bank Public Company
Limited, Cayman
Islands branch. The deal is the first-ever Basel III-compliant Additional Tier
1 notes from Thailand and the largest USD bond issuance from TMB Bank Public
Company Limited to date. The notes are rated Ba3 by Moody's. Closing date: 6
December 2019
Representation of PTT Public Company Limited (PTT)
in the tender for purchase of USD 350 million 5.875% Senior Notes due 2035 and
USD 600 million 4.5% Senior Notes due 2042 (“Existing Notes”) issued to foreign
investors and the issuance and offer to sell like-kind notes to the Existing
Note holders. PTT conducted liquidity management by offering repurchase of the
Existing Notes and providing for PTT Treasury Center Company Limited, a
subsidiary of PTT, to issue two series of new like-like kind notes. Payment under both newly issued
notes is guaranteed by PTT. In
aggregate, USD 245 million and USD 330 million of the principal amounts of the
Existing Notes were tendered and accepted for purchase and the same of
principal amount of like-kind notes were issued. The settlement date for the
transaction was 24 October 2019.
Representation of Bangkok Bank Public Company Limited
in the issuance of USD 300,000,000 Guaranteed Senior Perpetual Capital
Securities guaranteed by Bangkok Bank Public Company Limited, acting through
its Singapore branch, by Minor International Public Company Limited. The
securities are rated Baa2 by Moody’s and BBB+ by Fitch Ratings. The securities
represent the first private corporation from Thailand in the public USD markets
since 2007 and the first ever bank-guaranteed public USD bond from a South-East
Asian corporation. December 2018
Representation of the Dealer Managers and Coordination
Agents, namely Citigroup Global Markets Inc., Merrill Lynch
(Singapore) Pte. Ltd. and Standard Chartered Bank in relation to PTT
Global Chemical Public Company Limited’s liability management
transaction, involving a tender offer to purchase its outstanding USD 1 billion
4.25% Senior Unsecured Notes due 2022 (the Existing Notes) from existing
holders and the subsequent issuance by GC Treasury Center Company Limited
of like-kind notes, guaranteed by PTT Global Chemical Public Company Limited,
on terms substantially identical to the Existing Notes. The settlement date was
28 June 2018.
Representation of PTT Public Company Limited in
respect of the offer to purchase (buy-back) its USD 350,000,000 senior notes
due in 2035 and USD 600,000,000 senior notes due in 2042 issued under Regulation S/Rule 144A and
listed on the Hong Kong Stock Exchange and the Singapore Exchange (April 2017).
Representation of Credit Guarantee and Investment
Facility (CGIF), a trust fund of the Asian Development Bank (ADB) in connection with the
Thai legal aspects of the guarantee to be provided by CGIF of S$195 million
(USD 138.2 million approximately) unsecured bonds issued by IVL Singapore Pte.
Ltd., a Singaporean subsidiary of Indorama Ventures Public Company Limited
(IVL), a listed Thai company. CGIF received a counter indemnity from the issuer
and the Thai parent. This represents one of CGIF’s first transactions in
Thailand. The use of an offshore issuing vehicle was unusual for the Thai
market, and Bank of Thailand approval was obtained for the issue of bonds
through the offshore vehicle and payment to CGIF of guarantee fees and under
the counter indemnities. The transaction closed on 7 October 2015.
Representation of Precious Shipping Public Company
Limited (Precious Shipping) in the SGD 500 million Multicurrency
Medium Term Note Programme established by its wholly owned Singaporean
subsidiary, Precious Projects Pte. Ltd. The transaction was valued at
approximately THB 12. 8 billion or USD 363 million. BNP Paribas was the
arranger. Precious Shipping and Precious Shipping (Singapore) Pte. Ltd., its
wholly owned Singaporean subsidiary, are guarantors. (Closed 24 July 2015)
Representation of The Siam Commercial Bank Public Company
Limited (SCB) in connection with issuance of bonds in the
international market, including review of the international offering document,
and review of all relevant agreements between the issuer and note holders. The
deal value was USD 2.5 billion and closed in 2011.
Representation of The Siam Commercial Bank Public Company
Limited (SCB) in connection with issuance of bonds in the
international market, including review of the international offering document,
and review of all relevant agreements between the issuer and note holders. The
deal value was USD 2.5 billion.
Representation of CIMB Group Sdn. Bhd. (CIMB)
on the recapitalization of CIMB Thai Bank Public Company Limited (formerly,
BankThai Public Company Limited) which included the issuance of new shares on a
rights offering basis (approximately THB 2.54 billion), the issuance of Hybrid
Tier 2 instruments (THB 2.5 billion), the capital reduction and rebranding.
Representation of TMB Bank Public Company Limited in
purchasing its cumulative tier 1 notes.
Representation of Advance Agro Public Company Limited
in relation to its high-yield notes offering under Rule 144 A/Regulation S.
Representation of ABN Amro, UBS and The
Aromatics Thailand on the 5.5% notes due 2012 and listed on the Singapore
Stock Exchange.
Representation of Credit Suisse and the Royal Bank
of Scotland, the initial purchasers, in the issuance of the USD 500 million
bonds under Rule 144A/Regulation S by PTTEP Australia International Finance
Pty, a subsidiary of PTT Exploration & Production Plc. (PTTEP) and
guaranteed by PTTEP. Closed: 20 July 2010.
Representation of the Kingdom of Thailand on a
domestic public offering in the U.S. of USD 206,400,000 medium term notes.
Representation of the Kingdom of Thailand on a
domestic public offering in the U.S. of USD 300,000,000 8 ¼ % debentures.
Representation of Electricity Generating Authority of
Thailand on a USD 300 million Rule 144A/Euro bond offering.
Representation of The Industrial Finance Corporation of
Thailand in a Rule 144A and Regulation S offering of USD 200,000,000 7 3/8 %
debentures due in 2007.
Representation, as Thai legal counsel, of The Siam
Commercial Bank Public Company Limited (SCB) in connection with the
establishment of the USD 2.5 billion Euro Medium Term Note Programme of the
Company (Programme) and the issue, under the Programme by the Company, acting
through its Hong Kong branch, of USD 4.0 billion 3.900 % notes due in 2016.
Domestic
Debt Offerings
Assisted PTT Global Chemical Public Company Limited
on its offering of Thailand’s first USD Bond issued by the Treasury Center Co.,
Ltd. of PTTGC for 2022, totaling USD 1.3 billion, comprising a 10-year bond
worth USD 1 billion at a fixed annual interest rate of 4.40%, and a 30-year
bond worth USD 300 million at a fixed annual interest rate of 5.20%. (2022)
Representation
of Bangkok Mass Transit System Public Company Limited in connection for
the issuance and offering of THB denominated unsecured and unsubordinated Green
Bonds No.1/2021 under the Medium Term Note Program. The total offering size was
THB 10.2 billion.
Representation
of BTS Group Holdings Public Company Limited in connection for the
issuance and offering of THB denominated unsecured and unsubordinated Bonds
No.1/2021 under the Medium Term Note Program. The total offering size was THB
14 billion.
Representation
of Property Perfect Public Company Limited in connection with the
issuance and offering of THB denominated unsecured and unsubordinated
debentures in January 2020.
Representation
of Government Savings Bank in connection with the issuance and offering
of bonds in January 2020.
Representation
of JMT Network Services Public Company Limited in connection with the
issuance and offering of THB denominated unsecured and unsubordinated
debentures in January 2020.
Representation
of Dusit Thani Public Company Limited in connection with the meeting of
bondholders for the amendment of terms and conditions in January 2020.
Representation
of Sena Development Public Company Limited in connection with the
issuance and offering of THB denominated unsecured and unsubordinated
debentures in February 2020.
Representation
of Sansiri Public Company Limited in connection with the issuance and
offering of THB denominated unsecured and unsubordinated debentures in February
2020.
Representation
of Berli Jucker Public Company Limited in connection with the issuance
and offering of THB denominated unsecured and unsubordinated debentures in
February 2020.
Representation
of Nawarat Patanakarn Public Company Limited in connection with the
meetings of bondholders for the amendment of terms and conditions in February
2020.
Representation
of Ratchthani Leasing Public Company Limited in connection with the
issuance and offering of THB denominated unsecured and unsubordinated
debentures in February 2020.
Representation
of Ananda Development Public Company Limited in connection with the
issuance and offering of THB denominated unsecured and unsubordinated
debentures in March 2020.
Representation
of National Power Supply Public Company Limited in connection with the
issuance and offering of THB denominated unsecured and unsubordinated
debentures in March 2020.
Representation
of Noble Development Public Company Limited in connection with the
issuance and offering of THB denominated unsecured and unsubordinated
debentures in March 2020.
Representation
of SC Asset Corporation Public Company Limited in connection with the
issuance and offering of THB denominated unsecured and unsubordinated
debentures in March 2020.
Representation
of L.P.N. Development Public Company Limited in connection with the
issuance and offering of THB denominated unsecured and unsubordinated
debentures in March 2020.
Representation
of Origin Property Public Company Limited in connection with its
medium-term note program in April 2020.
Representation
of Sansiri Public Company Limited in connection with the issuance and
offering of perpetual bonds in April 2020.
Representation
of Property Perfect Public Company Limited in connection with the
issuance and offering of THB denominated unsecured and unsubordinated
debentures in April 2020.
Representation
of UBS AG, Hong Kong in connection with the issuance and offering of
exchangeable bonds in April 2020.
Advised Property
Perfect Public Company Limited in connection with its bondholding meeting
in May 2020.
Representation
of Berli Jucker Public Company Limited in connection with the issuance
and offering of THB denominated unsecured and unsubordinated debentures in May
2020.
Representation
of Wind Energy Holding Co., Ltd. in connection with the issuance and
offering of bonds in May 2020.
Representation
of TPI Polene Public Company Limited in connection with the issuance and
offering of THB denominated unsecured and unsubordinated debentures in May
2020.
Representation
of TPI Polene Public Company Limited in connection with the issuance and
offering of THB denominated unsecured and unsubordinated debentures in May
2020.
Representation
of Property Perfect Public Company Limited in connection with the
issuance and offering of THB denominated unsecured and unsubordinated
debentures in May 2020.
Representation
of Nirvana Daii Public Company Limited in connection with the issuance
and offering of THB denominated secured debentures in May 2020.
Representation
of Ananda Development Public Company Limited in connection with the
issuance and offering of perpetual bonds in July 2020.
Representation
of BTS Group Holdings Public Company Limited in relation to its Green
Bonds under MTN Program in October 2020.
Representation
of Macquarie Securities (Thailand) Ltd. in connection with its
derivatives warrant in July 2020.
Representation
of dtac TriNet Co., Ltd. in connection with the issuance and offering of
THB denominated unsecured and unsubordinated debentures in July 2020.
Representation
of JMT Network Services Public Company Limited in connection with the
issuance and offering of THB denominated unsecured and unsubordinated
debentures in July 2020.
Representation
of Government Savings Bank in the issuance and offering of BAAC 2020
green bond in July 2020.
Representation
of Property Perfect Public Company Limited in connection with the
issuance and offering of THB denominated unsecured and unsubordinated
debentures in July 2020.
Representation
of TPI Polene Power Public Company Limited in connection with the
issuance and offering of THB denominated unsecured and unsubordinated
debentures in August 2020.
Representation
of Sena Development Public Company Limited in connection with the
issuance and offering of THB denominated unsecured and unsubordinated
debentures in August 2020.
Representation
of Noble Development Public Company Limited in connection with the
issuance and offering of debentures under MTN Program to be issued in November
2020.
Representation
of Sansiri Public Company Limited in the issuance and offering of
debentures under MTN program to be issued in November 2020. Mergers
& Acquisitions
Representation
of GE Capital Group, including its subsidiaries in Hong Kong on the sale
of its stake in Alpha Capital Asset Management Co., Ltd. to a new strategic
investor. Weerawong C&P has advised
the GE Capital Group on transactions in Thailand since its entrance into the
financial sector as a management company. The transaction closed on 28 January 2016
Banking and Finance
Representation
of Berli Jucker Public Company Limited (BJC) in the EURO 3.2
billion bridge facilities (approximately USD 3.6 billion) provided by
international banks namely, BNP Paribas, HSBC, Rabobank ICBC, Mizuho Bank,
Standard Chartered Bank, SMBC and Bangkok Bank. The funds are for the
acquisition of a 58.56% stake in the Big C Supercenter Plc, a large nationwide
retail store, from the France-based , Casino Group. This was the
largest acquisition financing in Thailand in 2016 to date.
Representation
of Krung Thai Bank Public Company Limited on the financing of THB 1
billion to Destination Resort Co., Ltd. for the acquisition of the Starwood
Hotel in central Bangkok.
Representation of Ananda Development Public Company Limited on
the initial public offering (IPO) and offering of existing shares, in Thailand,
as well as on the international offering under Regulation S. Barclays Bank
Plc., CIMB Bank (L) Limited and CLSA Singapore Pte. Ltd. acted as international
managers, while Bualuang Securities Plc. and KT ZIMCO Securities Plc. acted as
underwriters. The deal value was USD 185 million (THB 5.6 billion). Publications
‘Thailand’, Debt Capital Markets, Getting the Deal
Through, Law Business Research, (2016-2021) |