| Chai Lertvittayachaikul | Jeeranant Geevorakulnont

Kudun and Partners represents BG Energy Solution Company Limited on its project refinancing of My Son 1 and My Son 2 for a total sum of VND 1.4 trillion from Vietcombank.

BG Energy Solution

Kudun and Partners represented BG Energy Solution Company Limited, a subsidiary of BG Container Glass Public Company Limited (BGC) and Bangkok Glass Public Company Limited in a cross-border refinancing transaction in the form of a loan facility from Vietcombank for the sum of VND 760,625,000,000 for My Son 1 and 640,625,000.000 for My Son 2, totaling VND 1.4 trillion or approximately USD 61.6 million. The refinancing was extended for the early redemption of all outstanding bonds of which Tan Viet Securities Joint Stock Company (TVSI) acts as the bondholder representatives.

The refinancing was a follow-up to the client’s cross-border investment transaction of My Son 1 Solar Power Joint Stock Company and My Son 2 Solar Power Joint Stock Company, which was represented by Kudun and Partners and had a transaction value of about USD 48.1 million.

The project financing matter includes our team working and coordinating on three prongs; our client, the project company based in Vietnam and Vietcombank on the loan application, reviewing the loan facility agreements, demonstrating our capability in advising the acquirer of the shares and the structure and approach, of which assisted the borrower in this cross-border refinancing. Aside from the cross-border and coordinating aspects of the transaction, the transaction was exceedingly time-sensitive with an almost impossible deadline to meet as the client require the redemption to be completed as quickly as possible.

The refinancing transaction was led by Chai Lertvittayachaikul, a partner of the firm together with associates; Ploy Maneepaksin and Jeeranant Geevorakulnont.