Banking and finance in Thailand

Baker McKenzie LLP

Noted for its 'outstanding work and dedication', Baker McKenzie LLP handles debt and equity financing for both borrowers and lenders. Thinawat Bukhamana, Sawanee Sethsathira and Komkrit Kietduriyakul are the triad at the head of the practice. Bukhamana specialises in project and corporate financing, derivatives and financial products. Sethsathira has extensive experience in project development, financing and acquisitions in the energy, mining and infrastructure sectors. Kietduriyakul excels in fintech and digital asset matters. Key members of the practice include real estate focused Chaveewan Likhitwattanachai, who advises on financing, REITs and asset management; Benja Supannakul, who specialises in securities law issues, notably regulatory issues; and Somika Phagapasvivat, who is a key contact for fintech and digital transformation work. Kullarat Phongsathaporn and Kanokpan Poovaratanakul are both also names to note.

Responsables de la pratique:

Thinawat Bukhamana; Sawanee Sethsathira; Komkrit Kietduriyakul


Autres avocats clés:

Chaveewan Likhitwattanachai, Benja Supannakul, Somika Phagapasvivat, Kullarat Phongsathaporn, Kanokpan Poovaratanakul; Suthawadee Riumkidgarn


Les références

‘The team delivers outstanding work and dedication. They have consistently provided invaluable support to the several companies I’ve worked for. Their efficiency, problem-solving skills, and ability to deliver practical solutions have been instrumental in navigating complex legal matters. Their prompt communication and responsiveness have ensured timely resolutions, making them a true asset.’

‘I’m incredibly grateful for the incredible work and unwavering commitment of a few key individuals at Baker McKenzie Thailand. Their support across the various companies I’ve been with has been nothing short of exceptional. They not only excel in efficiency, problem-solving, and delivering practical solutions, but their personable nature makes complex legalities much easier to understand. Their positive and can-do attitude inspires confidence, turning seemingly impossible situations into achievable goals. Their responsiveness and timely completion of tasks further solidify their value as a trusted legal partner.’

‘The Baker Thai team is responsive, knowledgeable and gives practical advice.’

Principaux clients

Siam Commercial Bank and its subsidiaries


Krungthai Bank


KASIKORNBANK and its subsidiaries


Bangkok Bank


Bank of Ayudhya


Kiatnakin Bank


TMB Thanachart Bank


EXIM Thai


ANZ Bank (Thai)


Morgan Stanley


OCBC


UOB Thai


Goldman Sachs


DBS Bank


Bank of Julius Baer


Blackrock


LGT Bank


Maybank


Muang Thai Life


CP Group


True Corporation


Siam Cement Group


Boon Rawd Brewery / Singha Corporation and their subsidiaries


Ananda Development


PTT Group


RATCH Group


Thaioil


IRPC


Super Energy Corporation


Gulf Energy Development


Principaux dossiers


  • Assisted PTT Global Chemical Public Company Ltd in relation to its sustainability-linked loan entered into with The Siam Commercial Bank Public Company Ltd.
  • Assisted The Thai Credit Retail Bank Public Company Ltd (TCRB) with respect to (i) its social loan facility from International Finance Corporation (IFC) and (ii) a USD/THB cross-currency swap to be linked with the loan facility.
  • Represented KASIKORNBANK Public Company Ltd (as lender) with the financing to Phuket Square Company Ltd.

Linklaters

With experience across the full spectrum of banking and finance, Linklaters handles project financing, debt restructuring, distressed debt acquisitions, acquisition financing and leveraged financing. Sectors of focus for the team include energy, chemicals, industrials, real estate, telecoms, food and retail. Pichitpon Eammongkolchai heads up the practice and excels in leveraged finance, real estate finance, acquisition finance and refinancing transactions. Wilailuk Okanurak is a reputed member of the practice whose strengths lie in cross-border transactions. Wanwisar Nakarat is noted for her extensive financing expertise. Soammaras Ratanavanich is well versed in financing and refinancing transactions as well as sustainability-linked loans.

Responsables de la pratique:

Pichitpon Eammongkolchai


Autres avocats clés:

Wilailuk Okanurak; Wanwisar Nakarat; Soammaras Ratanavanich


Les références

‘Been involved in a large variety of private credit transactions in the region and familiar with multiple credit regimes with strong local offices.’

‘Khun Pichitpon Eammongkolchai is immensely knowledgeable on credit structuring in Thailand and has good experience on restructuring as well, a great combination for private credit funds such as us.’

Principaux clients

Deutsche Bank AG


Coöperatieve Rabobank U.A. (Hong Kong Branch)


Standard Charted Bank


JP Morgan Chase Bank


Sumitomo Mitsui Banking Corporation


Nickel Industries Limited


The Hongkong and Shanghai Banking Corporation Limited


BNP Paribas


Credit Suisse AG


Citibank N. A


Chandler Mori Hamada Limited

Serving commercial banks and other financial institutions, Chandler Mori Hamada Limited concentrates on green lending and energy project financing but also regularly handles financing for acquisitions, real estate, aircraft and restructurings. Jessada Sawatdipong and V Joseph Tisuthiwongse jointly head up the team. Sawatdipong shines in financing for cross-border energy, natural resources, infrastructure and real estate projects. Tisuthiwongse focuses his practice on project and acquisition finance in the renewable energy sector. Pranee Klinratana is a key contact for syndicated lenders seeking assistance with financing for energy, property and industrial estate projects. Supattra Sathapornnanon advises on financing for traditional and renewable energy projects.


Responsables de la pratique:

Jessada Sawatdipong; V Joseph Tisuthiwongse


Autres avocats clés:

Pranee Klinratana, Supattra Sathapornnanon


Les références

‘Good relationships and collaboration play a key role in the success of this firm.’

‘From my view, Mrs Supattra Sathapornnanon is the outstanding partner in terms of relationship whom I worked with. She has extensive knowledge and experience in loan syndication for project finance and banking in Thailand. We can rely on her advice on the legal issues with respect to the terms and conditions of finance documents.’

‘The practice is very well established with partners who have worked in it for decades. Therefore, they know the Thai regulators and market very well. The team covers the full range of banking and finance work although is particularly well known for cross-border project financing. It’s a great team to work with given their experience, which is quite outstanding in the market. Our long-standing relationship also means that they really understand what we require from them.’

Principaux clients

Antnest Holdings (Thailand) Limited


Asian Development Bank (ADB)


B.Grimm Power Public Company Limited


Bangkok Bank Public Company Limited


Bank of Ayudhya Public Company Limited


Bank of China (Hong Kong) Limited,


Bank of China (Thai) Public Company Limited


Bank of China Limited, Singapore Branch


BNP Paribas


Export-Import Bank of Thailand (EXIM)


Hankyu Hanshin Properties Corp.


Industrial and Commercial Bank of China (Thai) Public Company Limited


Japan International Cooperation Agency (JICA)


Kasikorn Bank Public Company Limited


Kiatnakin Phatra Bank Public Company Limited


Krung Thai Bank Public Company Limited


Muangthai Capital Public Company Limited


N.C.C. Management and Development Co., Ltd.


Omega Logistic Campus Co., Ltd.


The Government Savings Bank


The Siam Commercial Bank Public Company Limited


TISCO Bank Public Company Limited


TMBThanachart Bank Public Company Limited


Principaux dossiers


  • Represented a group of syndicated lenders in financing the 1,460MW Luang Prabang Hydro Power Project.
  • Represented TISCO Bank Public Company Ltd, Kiatnakin Phatra Bank Public Company Ltd, and KASIKORNBANK Public Company Ltd in relation to the refinancing of the construction and operation of the 660MW coal-fired power-generating plant.
  • Advised Asian Development Bank, EXIM Thailand, and Japan International Cooperation Agency on a syndicated loan for Energy Absolute Public Company Ltd (EA) to purchase electric buses.

DLA Piper

Leveraged and acquisition finance, corporate lending, project finance, real estate finance, restructuring, special situations and general banking advice are all part of the skillset of DLA Piper. Waranon Vanichprapa is responsible for leading the practice and handles an array of banking transactions in the hospitality, logistics, telecoms, real estate, retail and energy sectors. Pattadon Tejapaibul is a key member of the practice and is active in cross-border lending, acquisition finance and project financing. Timothy Tan left the firm in August 2023.

Responsables de la pratique:

Waranon Vanichprapa


Autres avocats clés:

Pattadon Tejapaibul


Les références

‘One thing that I like about DLA is the ability to understand our very specific requirements in agreement drafting and provide a set of options that we can put in the agreement. Those options are not just plain vanilla but rather test the extent to which the agreement can be drafted without going against the regulations, and the team was very well aware of the possible effects and being able to carefully explain these to us. We were able to make a well-informed decision based on the advice from the team. ’

‘Mainly I’ve worked with Mr Waranon Vanichprapa, Mr Pattadon Tejapaibul and Ms Sarita Prukaroon. Both Mr Pattadon and Ms Sarita have shown me commitment to meet the deadline, and to go beyond the scope of work to provide the best possible service.

‘The team led by K Waranon supported us in the loan financing. They were knowledgeable and knew market practice. They pointed us to the issues that we may never think of before. They have good negotiation skills that did not create a tense environment but yet provided win-win for both parties.’

Principaux clients

CIMB Bank (Thai) Public Company Limited


Sumitomo Mitsui Banking Corporation (Bangkok Branch)


TISCO Bank Public Company Limited


Bangkok Bank Public Company Limited


The Siam Commercial Bank Public Company Limited


Bangchak Corporation Public Company Limited


KASIKORNBANK Public Company Limited


Kiatnakin Phatra Bank Public Company Limited


Esso Thailand Plc


Global Power Synergy Public Company Limited


Bank of China


Gulf Energy Plc


Deutsche Bank


Rabobank N.V.


Gulf Energy Public Company Limited


Asian Development Bank


Credit Guarantee & Investment Facility, a trust fund of the Asian Development Bank


Principaux dossiers


  • Representing Bangchak Corporation Public Company Ltd on its financing to acquire ExxonMobil in Thailand.
  • Representing KASIKORNBANK Public Company Ltd, as lender, on the financing granted to the borrower for the acquisition of shares in a company.
  • Representing the bank as lender in providing facilities for Hengyi Industries Sdn Bhd.

Norton Rose Fulbright

Owing to its global reach, Norton Rose Fulbright handles cross-border transactions and projects, including term and revolving transactions, as well as renewable energy projects and sustainability-linked syndicated financing. The energy, projects, technology, innovation and power sectors are areas of focus for the group. Tassanai Kiratisountorn takes charge of the practice and specialises in cross-border financings in the energy sector. Chormas Premsirinirund is a key name for project financing.

Responsables de la pratique:

Tassanai Kiratisountorn


Autres avocats clés:

Chormas Premsirinirund


Les références

‘Collaboration of teams both Singapore and Thailand. Stable key counsels which means their team has a good understanding of client needs.’

‘People – very helpful, good-service minded, have broad knowledge. For other laws or jurisdictions which are outside of their coverage, the Norton Rose team can connect to their network in other locations.’

‘We normally work with Tassanai (partner) and Chormas (counsel) and their team. These lawyers are top of our mind when considering engaging a legal adviser. They help banks to structure complicated transactions and assist the banks to find the angles to close the deal.’

Principaux clients

dtac TriNet Co., Ltd.


Frasers Property Holdings (Thailand) Co., Ltd.


KASIKORNBANK Public Company Limited


The Hongkong and Shanghai Banking Corporation Limited, Bangkok Branch


Bangkok Bank Public Company


Principaux dossiers


  • Advising Fraser Property Holdings (Thailand) Co., Ltd on the senior term loan facility provided by Sumitomo Mitsui Banking Corporation.
  • Advising SCB X Public Company Ltd (the borrower) on the THB and JPY syndicated term loan facilities.
  • Advising Bangkok Bank Public Company Ltd and Kiatnakin Phatra Bank Public Company Ltd on the financing of the development of the 9.5MW municipal solid waste-to-energy project by Chiangmai Waste to Energy Company Ltd.

SRPP Ltd.

SRPP Ltd. is praised for its 'exceptional legal expertise' and assists clients with various forms of financing, from real estate to energy projects, as well as acquisition and financing. Passawan Navanithikul sits at the helm of the practice and is extremely active in the energy, real estate and infrastructure project work of the firm. Both Sireedhorn Kittiphumwong and Viparvee Chaemchaeng significantly contribute to the practice and are active in domestic and cross-border transactions.

Responsables de la pratique:

Passawan Navanithikul


Autres avocats clés:

Sireedhorn Kittiphumwong, Viparvee Chaemchaeng


Les références

‘The team possesses exceptional legal expertise, a commendable service-oriented mindset and high responsiveness. They provide exceptional quality of documentation. They have excellent team management capabilities, good communication and outstanding proficiency in legal matters, negotiation, and commercial awareness.’

‘Passawan Navanithikul and Viparvee Chaemchaeng possess exceptional legal knowledge, produce high-quality documents, demonstrate a commendable service-oriented mindset and exhibit strong legal and commercial awareness.’

Principaux clients

AirAsia Berhad


ADK Holdings Inc.


Bangkok Bank Public Company Limited


Bank of China (Hong Kong) Limited


Bound and Beyond Public Company Limited


Bain Capital, LP.


Commercial Bank of China (Thai) Public Company Limited


CIMB Thai Bank Public Company Limited


China Development Bank, Guangdong Branch


Industrial and Commercial Bank of China (Thai) Public Company Limited


International Beverage Holdings Limited


KASIKORNBANK Public Company Limited


Kiatnakin Phatra Bank Public Company Limited


Kingsgate Consolidated Limited


LA Bicycle (Thailand) Co., Ltd.


Mizuho Bank Ltd.


Mizuho Bank Ltd., Singapore Branch


Nomura Special Investments Singapore Pte. Ltd.


Perrin Holdings Co., Ltd.


Sumitomo Mitsui Banking Corporation


Sumitomo Mitsui Banking Corporation, Bangkok Branch


Sumitomo Mitsui Banking Corporation, Singapore Branch


SinoPac Capital International (HK) Limited


The IYO Bank, Ltd., Singapore Branch


TMBThanachart Bank Public Company Limited


Principaux dossiers


  • Advising a group of offshore syndicate lenders comprising of Mizuho Bank Ltd, Singapore Branch and Sumitomo Mitsui Banking Corporation Singapore Branch with regards to the financing and refinancing for Thai Beverage Public Company Ltd.
  • Advising Kingsgate Consolidated Ltd on the financing by Nebari Gold Fund.
  • Advising AirAsia Berhad as borrower on a term facility agreement with Bangkok Bank Public Company Ltd as lender for the purpose of financing its general working capital requirements and costs and expenses in relation to aircraft maintenance.

Tilleke & Gibbins

Lauded for its 'exceptional professionalism and expertise', Tilleke & Gibbins is well regarded for its work in acquisition financing, corporate financing and project financing, notably for energy, infrastructure and real estate projects. Its expertise also covers matters involving blockchain, cryptocurrency and fintech. Santhapat Periera and Niti Muangkote are responsible for jointly heading the practice. Periera specialises in asset finance, notably aircraft enhancing and energy and infrastructure project financing. Muangkote is active in loan offering and credit facilities for energy, infrastructure and real estate projects.

Responsables de la pratique:

Santhapat Periera; Niti Muangkote


Les références

‘The law firm has demonstrated exceptional professionalism and expertise in their services, and they offer flexible payment arrangements to accommodate various needs.’

‘The team has delivered services with unmatched professionalism and adaptability, expertly navigating any changes in the circumstances of each case with skill and precision.’

‘Tilleke’s banking & finance team effectively combines legal expertise with a strong understanding of business realities, allowing them to consistently provide us with timely and practical solutions to our specific needs.’

Principaux clients

Brown Brothers Harriman


China Development Bank


CIMB Thai Bank Public Company Limited


Fabrinet


Goldman Sachs


KBZ Group


National Australia Bank Limited


Rojana Power Co., Ltd.


Sumitomo Mitsui Banking Corporation


TMBThanachart Bank PCL


Principaux dossiers


  • Engaged by King & Wood Mallesons to act as Thai legal counsel to a syndicate of international lenders, consisting of financial institutions and private investment firms, among other investors, for the provision of financing to a global private equity sponsor in relation to the acquisition of a controlling stake in a global pharmaceutical group.
  • Acted as lead counsel to TMBThanachart PCL in making amendments to a credit facilities agreement for a plastic recycling plant project in Thailand.
  • Engaged by King & Wood Mallesons to act as Thai legal counsel to a syndicate of international financial institutions on providing a range of multicurrency revolving credit facilities.

Hunton Andrews Kurth LLP

Hunton Andrews Kurth LLP advises on financings, green bonds, facility agreements and bridge loans. Sitting at the head of the practice is Stephen Bennett, who specialises in M&A and financing in the fintech and telecoms sectors; Edward Koehler, who has significant experience in renewable power projects and infrastructure development; and Chumbhot Plangtrakul, who provides an industry focus to the group, namely renewable energy, battery production and infrastructure. Tanagorn Thimasarn and Thanyaporn Achariyawong are also both key names to highlight from the practice.

Responsables de la pratique:

Stephen Bennett; Edward B. Koehler; Chumbhot Plangtrakul


Autres avocats clés:

Tanagorn Thimasarn; Thanyaporn Achariyawong


Principaux clients

Monsoon Wind Power Company Limited


Thanaleng Dry Port Sole Co., Ltd.


International Finance Corporation


Deutsche Investitions- und Entwicklungsgesellschaft mbH


ZF Chassis Modules Holding GmbH


JPMorgan Chase Bank


Mitsubishi UFJ Financial Group


Mizuho Bank, Ltd.


Sumitomo Mitsui Banking Corporation


KASIKORNBANK Public Company Limited


TMBThanachart Bank Public Company Limited


Bank of Ayudhya Public Company Limited


Pacific Investment (Mauritius) Limited


Asia Credit Opportunities III (Mauritius) Limited


Principaux dossiers


  • Acted as counsel to IFC on the subscription to green/blue bonds issued by the Bank of Ayudhya Public Company Ltd.
  • Acted as counsel to IFC as lender in connection with financial facilities issued to the Thai Credit Retail Bank Public Company Ltd.
  • Acted as counsel to ZF as borrower in respect of the  multicurrency term and revolving credit facilities provided by DBS Bank Ltd.

R & T Asia (Thailand) Limited

R & T Asia (Thailand) Limited is well regarded for its strategic banking advisory and loan structuring services, seeing it involved in a broad spectrum of transactions. The triad leading the practice features Piroon Saengpakdee, who specialises in debt restructuring and advises creditors and debtors in the telecoms, infrastructure and real estate sectors; Saroj Jongsaritwang, who is well versed in agreements relating to consumer finance; and Surasak Vajasit. Other key members of the group include Pakpoom Suntornvipat  and Chotiwit Ngamsuwan.

Responsables de la pratique:

Surasak Vajasit; Piroon Saengpakdee; Saroj Jongsaritwang


Autres avocats clés:

Pakpoom Suntornvipat; Chotiwit Ngamsuwan


Principaux clients

Oversea-Chinese Banking Corporation Limited


Standard Chartered Bank (Thai) Public Company Limited


Principaux dossiers


  • Advised Oversea-Chinese Banking Corporation (OCBC), Singapore on the provision of financial supports to a leasing company in Thailand.
  • Advised Standard Chartered Bank (Thai) Public Company Ltd on the granting of a loan to SRF Industries (Thailand) Ltd for the repayment of principal and interest under the intercompany loan agreement.

Siam Premier International Law Office Limited

Siam Premier International Law Office Limited counts commercial and investment banks, financial institutions, public sector entities, domestic corporations and multinational companies among its client roster. Sitting at practice head level is Torsakul Cunvong, who is regularly sought after by insurers and commercial banks in relation to drafting bancassurance agreements; Maythawee Sarathai, who regularly works on corporate lending, bankruptcy and business reorganisations; Siripun Kriangwattanapong, who has extensive commercial knowledge; and Ajjima Kanokmaneechotikul, who specialises in real estate and construction matters.

Responsables de la pratique:

Torsakul Cunvong; Maythawee Sarathai; Siripun Kriangwattanapong; Ajjima Kanokmaneechotikul


Principaux clients

R E N Korat Energy Co., Ltd.


Enerflex Ltd.


United Overseas Bank Limited


Kudun & Partners

Kudun & Partners is well versed in structured acquisitions, leveraged finance, project financing, derivatives and regulatory issues. Troy Schooneman and Peerasanti Somritutai jointly oversee the practice. Founding partner Schooneman maintains a broad practice in the banking and finance space. Somritutai regularly advises private equity firms and government agencies.

Responsables de la pratique:

Troy Schooneman; Peerasanti Somritutai


Principaux clients

AIMS Data Centre Holding Sdn. Bhd.


Areeya Property Public Company Limited


ALLY KEX Private Equity Trust


RHB Bank Berhad (Singapore Branch)


Davis Group


Fulcrum Ventures Co., Ltd.


10 Bridge Co., Ltd


East Blue Ventures Pte. Ltd.


Hua Yang Automobile Pte Ltd.


Principaux dossiers


  • Advising AIMS Data Centre Holding Sdn. Bhd. on the pledge of shares in a Thai company (AIMS Data Centre (Thailand) Ltd) as one of the securities for a facilities agreement.
  • Representing Fulcrum Ventures Company Ltd on its loan arrangement extended to the project management for the development of housing projects.
  • Represented ALLY KEX PRIVATE EQUITY TRUST on its complex, sponsor-level joint venture arrangement with convertible financing extension to Siamese Asset PCL.

Weerawong, Chinnavat & Partners

Weerawong, Chinnavat & Partners advises a range of lenders and borrowers on bank lending, energy and infrastructure project financing, real estate financing and acquisition financing. Sunyaluck Chaikajornwat is responsible for leading the practice and is regularly sought after by large corporations, banks, and real estate and investment companies.

Responsables de la pratique:

Sunyaluck Chaikajornwat


Les références

‘Their professional service and skill involves being reliable and they set their own high standards and show that they care about every aspect of their job. It’s about being hard-working and organised, and holding accountability for their thoughts, words and actions.’

‘The staff share their good skill and experience which allows us to identify and implement their recommendations.

Principaux clients

Bank of Ayudha Public Company Limited


Bank of China (Hong Kong) Limited


Bank of China (Thai) Public Company Limited


CIMB Thai Bank Public Company Limited


Export-Import Bank of Thailand


Industrial and Commercial Bank of China (Thai) Public Company Limited


KASIKORNBANK Public Company Limited


Land and Houses Bank Public Company Limited


Phuket Square Co., Ltd.


Sumitomo Mitsui Trust Bank (Thai) Public Company Limited


Thai Beverage Public Company Limited


The Siam Commercial Bank Public Company Limited


TMBThanachart Bank Public Company Limited