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Project Finance

Frasers has been involved in numerous limited recourse financing transactions in Vietnam. Our Firm has great depth and expertise in this particular area with a number of leading senior expatriate and local lawyers. Frasers’ Project Finance team’s local knowledge and relationships coupled with extensive international experience, is of extreme value to our diverse list of clients in Vietnam. Many of the deals that the team is involved with are high profile and complex given the various parties and government authorities involved locally and in other international jurisdictions, and who all have a significant vested financial interest in such matters.

A sampling of our highlight matters in this area includes:

  • Acting for the lenders and the hedging bank on the US$600 million financing to Long Son Petrochemicals Company Limited. This was one of the largest project financing undertaken to an international standard in Vietnam, which reached a financial close in Q4 2021. 
  • Acting for a major regional credit institution in relation to the re-financing of this USD200 million project finance package in order to finance a large-scale solar power generation project in Phu Yen province, Vietnam on a limited resource basis.
  • Acting for the lender to finance a 600MW wind power project in Laos to sell energy to Vietnam Electricity on a cross-border basis. 
  • Acting as local lenders’ counsel in the US$2.75 billion financing of Nghi Son 2 1200MW coal-fired power generation project. The deal, which involved two ECAs (JBIC and KEXIM) was undertaken to an international limited recourse finance standard and was awarded the South East Asia Project Finance Deal of the Year at the Asian Legal Business Awards in Singapore. 
  • Acting as local Vietnam counsel for the Asian Development Bank and a syndicate of B lenders in relation to the financing of two solar energy power generation projects being collectively in excess of 600MW in power generation.
  • Acting as lead counsel for a leading State-owned national petroleum exploration and production company based in Thailand, on one of the largest portfolios of solar power projects in Vietnam, investing and financing at least 4 solar power generation projects geographically spread through different provinces.
  • Acting as Vietnam counsel to the lenders in relation to a proposed secured loan facility to be provided to an international oil and gas exploration and production company. Advising a client in relation to the biggest-ever foreign direct investment project in Vietnam. The project has total registered investment capital of US$10 billion and consists of numerous components, including a large-scale coal-fired power generation project.
  • Acting for a leading renewable energy developer in providing it with comprehensive Vietnam law advice and assistance in relation to all aspects of the debt financing of its extensive portfolio of existing and pipeline rooftop solar projects in Vietnam.
  • Acting for a Japanese trading house and its partner on their proposed entry into a large-scale joint venture with a Vietnamese partner, in the logistics and warehousing sector. As part of the finance structuring, we have devised a convertible loan note instrument which will be deployed in order to facilitate the funding of the project.