LS HORIZON LIMITED : THERE IS ALWAYS A SOLUTION

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LS Horizon Limited represented Export-Import Bank of Thailand in connection with THB 8,000,000 additional financing provided to Asia Nampapa Luangprabang Company Limited (a Thai majority owned company established in Lao PDR) for the repayment of the Shareholders’ Loans which utilized for the construction of the additional water supply facility and mountain tank in Luang Prabang Province of Lao PDR.



LS Horizon Limited represented TMB Bank Public Company Limited in connection with THB 531,700,000 project financing provided to Eastern Technical Engineering Public Company Limited for the construction and operation of three (3) solar farm projects developed by agricultural cooperatives in Sakaeo Province and Prachuap Khiri Khan Province.



LS Horizon Limited represented TMB Bank Public Company Limited in connection with THB 240,000,000 project financing provided to ETE Management Company Limited for the construction and operation of the solar farm project developed by an agricultural cooperative in Trad Province.



LS Horizon Limited represented TMB Bank Public Company Limited in connection with THB 91,000,000 project financing provided to Solartron Energy 2 Company Limited (a subsidiary of Solartron Public Company Limited) for the construction and operation of the solar farm project developed by an agricultural cooperative in Ang Thong Province.



LS Horizon Limited represented TMB Bank Public Company Limited in connection with THB 318,500,000 project financing provided to Solartron Energy 5 Company Limited (a subsidiary of Solartron Public Company Limited) for the construction and operation of two (2) solar farm projects developed by the agricultural cooperatives in Prachuap Khiri Khan Province.



LS Horizon Limited advised Pace Development Corporation Public Company Limited in connection with the construction and development of Nimit Langsuan project, a super-luxury residential freehold development with 53-storey comprising of 187 units, centrally-located on Langsuan Road.

 


LS Horizon Limited advised Pace Development Corporation Public Company Limited in connection with the development of Mahanakorn Condominium.  Mahanakorn Condominium is a luxury mixed-use skyscraper comprised of hotel, retail and residences.  The residence units will be managed by Ritz-Carlton and the 150 hotel rooms will be the Bangkok Edition Hotel operated by Marriott.

 


LS Horizon Limited advised Land and Houses Fund Management Company Limited in connection with the establishment of THB 4,978.26 Million LH Shopping Centers Leasehold Real Estate Investment Trust (LHSC) which invested in long-term lease of Terminal 21 Shopping Center from L&H Property Company Limited.

 


LS Horizon Limited advised Land and Houses Fund Management Company Limited in connection with the e3,825.18 Million (LHHOTEL) which invested



LS Horizon Limited advised TICON Freehold and Leasehold Real Estate Investment Trust (TREIT) in connection with THB 2,243 Million capital increase. TREIT invested in several factories and warehouses from TICON Industrial Connection Public Company Limited and TICON Logistics Park Company Limited, respectively.



LS Horizon Limited advised EDL-Generation Public Company, a corporate entity registered and established under the laws of Lao PDR, in connection with THB Debentures issued on private placement basis in several tranches in Thailand with the total offering amount of THB 6,500 Million.



LS Horizon Limited advised EDL-Generation Public Company, a corporate entity registered and established under the laws of Lao PDR, in connection with US$ Debentures issued on the private placement basis in Thailand with the total offering amount of the US$ 312,000,000.



LS Horizon Limited has advised CPN Retail Growth Leasehold Property Fund(CPNRF), the property fund for public offering (or Retail Thai REIT), in its second fund raising through the offering of the investment units of approximately Baht 4.8 Billion to investors and in its borrowing of Baht 1 Billion from The Siam Commercial Bank Public Company Limited.

CPNRF, listed on the Stock Exchange of Thailand and managed by SCB Asset Management, is the first Retail Thai REIT. CPNRF initially invested in two shopping complexes, namely Central Plaza Rama 2 and Central Plaza Ratchada-Rama 3, with initial investment of approximately Baht 10 Billion (also advised by LSH). The proceeds from this second fund raising were used mainly to invest in the shopping complex and office buildings located at Central Plaza Pinklao. CPNRF market capitalization has expanded to approximately Baht 15 Billion and has been the largest REIT in Thailand.



LS Horizon Limited has advisedSolar Power Company Limited (SPC)andSolar Power (Korat1) Company Limited ( SPC(K1)), in connection with obtaining Baht 420 Million Credit Facilities from KASIKORNBANK Public Company Limited to finance their environmental friendly 6 MW solar power project which is currently the largest Solar farm in Thailand and in all of Asia. SPC was established to design, construct and operate Grid Connected Solar Power Stations anywhere in Asia. When the project is in operation, it will help mitigate the effects of the Global Warming by reducing CO2 emissions by around 5000 tonnes per year.



LS Horizon Limited represented The Bangchak Petroleum Public Company Limited in connection with a THB 4,200,000,000 financing provided by Asian Development Bank (ADB) with the support of Mizuho Corporate Bank, Ltd. for the development of the solar power projects with a generating capacity of 34.5MW and 9.43MW respectively, located in the Ayudhaya Province in Thailand in order to expand its investment in renewable energy and enhance the policy of Bangchak on the green energy concept. The first phase of the project is expected to start in October 2011.

 

The Financial Close of this Project was on 12 October 2010.



LS Horizon Limited represents Solar Power (Sakon Nakorn 1) Company Limited and Solar Power (Nakorn Phanom 1) Company Limited in connection with a Baht 2,000,000,000 financing provided by KASIKORNBANK Public Company Limited for the construction and development of two solar farms in Sakon Nakorn Province and Nakhon Phanom Province in Thailand. Each solar farm will have a capacity of 6 megawatts and will feed electricity to the Provincial Electricity Authority of Thailand under the Very Small Power Producer (VSPP) scheme.

 

Solar Power (Sakon Nakorn 1) Company Limited and Solar Power (Nakorn Phanom 1) Company Limited are the subsidiaries of the Solar Power Company Limited or Solar Power Group and are part of the ongoing plan of the Group to operate up to 34 solar power projects all over Thailand to support the renewable (green) energy of the Thai Government.

 

The Financial Close of the two projects was on 18 October 2010.



LS Horizon Limited and LS Horizon (Lao) Limited represent Hongsa Power Company Limited in connection to a USD 2,700,000,000 financing for the development and operation of the 1,878 MW Hongsa Thermal Mine-Mouth Power Plant in the Hongsa District, Xayaboury Province of the Lao Peoples Democratic Republic (the Project). The Project sponsors consist of Banpu Power Limited, Ratchaburi Electricity Generating Holding Public Company Limited and Lao Holding State Enterprise.

 

The Project is the first thermal mine-mouth power project to be developed in the Lao PDR. The targeted commercial operation date is set for March 2015. The majority of the power produced by the Project will be purchased by the Electricity Generating Authority of Thailand (?€?EGAT?€) under a 25 year power purchase agreement and the remainder of the power is to be supplied locally to Electricite du Laos (?€?EdL?€).

 

The financing of this Project, considered to be one of the largest ever in Thailand, consists of a multi-tranched and multi-currency facility from nine major Thai banks. The nine Thai financial institutions which comprise the syndicate of lenders to the Project are: Bangkok Bank Public Company Limited, The Siam Commercial Bank Public Company Limited, Export-Import Bank of Thailand, KASIKORNBANK Public Company Limited, Government Savings Bank, Krung Thai Bank Public Company Limited, Bank of Ayudhya Public Company Limited, Siam City Bank Public Company Limited and TMB Bank Public Company Limited.

 

The Financial Close for this Project was 29 October 2010.



LS Horizon Limited and LS Horizon (Lao) Limited represented ELECTRICITE DU LAOS (EDL), the Lao PDR state enterprise in connection with the incorporation of EDL-Generation Public Company (EDL-Gen) and the initial public offering of up to 217,149,000 ordinary shares of EDL-Gen on the newly-established Lao Securities Exchange. Since October 2010, LS Horizon Limited and LS Horizon (Lao) Limited have been representing EDL, one of the largest state enterprises engaging in power generation, transmission and distribution in Lao PDR, in connection with its restructuring and the privatization of the power generation sector of Lao PDR. We provided professional legal services in relation to the incorporation of EDL-Gen as well as the initial public offering of up to 217,149,000 ordinary shares of EDL-Gen with a par value of Lao Kip 4,000. The total value of the offering was approximately Lao Kip 931,998,330,000 or approximately USD 115,603,860.

 

EDL-Gen is the first public company in Lao PDR to have its shares listed and traded on the LSX, the first-ever Lao securities market, which officially opened on 10 October 2010. The incorporation of EDL-Gen was initiated by the Government of Lao (?€?GOL?€) with a view to restructuring the energy business of EDL by transferring certain existing EDL power generation assets to EDL-Gen according to the Resolutions of the National Assembly Standing Committee of Lao PDR and the Decree and Decision of the Prime Minister?€?s Office issued in December 2010.

 

This is considered as a momentous transaction for Lao PDR for many reasons: (i) EDL-Gen is the first listed public company to be established in Lao PDR, (ii) the shares of EDL-Gen are among the first to be traded on the newly-established LSX, and (iii) it is a ground-breaking privatization of a Lao state enterprise, which transferred significant publicly-owned assets, including seven hydropower power plants (with a total installed capacity of 387 MW), to EDL-Gen. In addition, we worked closely with GOL authorities in the drafting of the relevant laws and regulations required for the implementation of this transaction, as well as the drafting of land lease and concession agreements, power purchase agreements, etc.

 

The EDL-Gen was successfully incorporated as a public company on 15 December 2010 and its shares were first traded on the LSX on 11 January 2011. Currently, EDL-Gen?€?s registered capital is Lao Kip 3,474,388,200,000 or approximately USD 430,958,596.



LS Horizon Limited represents Krung Thai Asset Management Public Company Limited, Fund Manager in connection with Dusit Thani Public Company Limited(DTC) for the establishment of Dusit Thani Freehold and Leasehold Property Fund(DTCPF)-THB 4,094,000,000 Property Fund for Public Offering which invests in three major hotels - Dusit Thani Laguna Phuket, Dusit Thani Hua Hin and Dusit D2 Chiangmai. DTC will also hold the investment unit of DTCPF up to one - third and will be the hotel manager of such hotels. DTCPF investment unit is now listed in the Stock Exchange of Thailand and available for trading from 13 January 2011 onward.



LS Horizon Limited has advised SCB Asset Management Co., Ltd. in connection with the establishment of Prime Office Leasehold Property Fund (POPF) " THB 3,420,000,000 (approximately USD 114 Million) Property Fund for Public Offering which invests in the Ploenchit Center Building and United Business Center II. POPF became the third securities listed on the Stock Exchange of Thailand in 2011.



LS Horizon Limited has advised Krung Thai Bank Public Company Limited in connection with the project financing and financial close of small power producer power project of Navanakorn Electric Company Limited in the amount of approximately Baht 6,927,280,000 (approximately US$ 227 Million).



LS Horizon Limited has advised Solar Power Company Limited(SPC) in connection with the acquisition for back-door listing purpose of Steel Intertech Public Company Limited(STEEL), a company listed in the Market for Alternative Investment(MAI)of the Stock Exchange of Thailand. STEEL received the backdoor listing approval. Then, it acquired the ordinary shares in SPC in the number of 45,000,000 shares with a par value of Baht 10 per share, representing 100 percent of the total issued shares of SPC, at the purchase price of Baht 10 per share, having the total purchase price of Baht 450,000,000. In this regard, STEEL made the payment for the purchase of such shares by means of issuance of 450,000,000 new ordinary shares with a par value of Baht 1 per share, at the offering price of Baht 1 per share, having the total offering price of Baht 450,000,000, as the consideration to the shareholders of SPC who accepted the offer for the acquisition of shares of STEEL in lieu of the payment in cash, which is equivalent to the swap ratio of 1 share of SPC per 10 new shares of STEEL(Share Swap). Then, after the completion of Share Swap, the stock exchange has accepted the newly issued shares of STEEL to be tradable on the stock exchange from April 1, 2011 onwards. SPC is the first company to enter the MAI through the Baht 1,000 million market capital listing criteria and once the transaction is complete, the market capitalization of the securities will be increased over Baht 1,000 million. We also advise SPC and its shareholders in connection with the post share swap transaction, including tender offer process, organization restructuring and change of company name from Steel Intertech Public Company Limited to SPCG Public Company Limited and trading symbol to be ?€?SPCG?€ in the future.



LS Horizon Limited has advised Hydrotek Public Company Limited (HYDRO) in connection with its initial public offering (IPO) and listing of its shares on the Market for Alternative Investment (MAI) of the Stock Exchange of Thailand (SET). HYDRO operates construction and environmental engineering services, such as water treatment systems, wastewater treatment solutions, solid waste treatment, and waste-to-energy solutions. It has sold 30 million new shares at THB 3.39 each and commenced its first day trade on 15 December 2011.



LS Horizon Limited has represented Krung Thai Bank Public Company Limited in connection with THB 5,000,000,000 (approximately US$ 160,000,000) short term loan to be granted to SCG-Dow Chemical group of companies. Partners, Mr. Chaipat Kamchadduskorn and Mr. Montien Bunjarnondha led the transaction.



LS Horizon Limited has represented Krung Thai Bank Public Company Limited in connection with THB 1,320,000,000 (approximately US$ 42,500,000) Credit Facilities to be granted to Titanium Properties (Thailand) Limited and Titanium Villa (Thailand) Limited for the purchase of land and the construction of new hotel in Phuket. Partners, Mr. Chaipat Kamchadduskorn and Mr. Montien Bunjarnondha led the transaction.



LS Horizon Limited has represented Krung Thai Bank Public Company Limited in connection with THB 1,288,000,000 (approximately US$ 43,000,000) Credit Facilities to be granted to Charoen Chana (1986) Co., Ltd. for their refinancing, hotels renovation and working capital of two hotels in Phuket.



LS Horizon Limited advised SCB Asset Management Co., Ltd.(Management Company) in connection with the establishment of CPN Commercial Growth Leasehold Property Fund (CPNCG) THB 4,394,000,000 (approx. USD 142 million) a property fund for public offering. The proceeds from the offering of the units of CPNCG will be used to l invest in the leasehold right of the Offices @ CentralWorld.



LS Horizon Limited advised Land and Houses Fund Management Company Limited(the Management Company) in connection with the establishment of Quality Houses Hotel and Residence Freehold and Leasehold Property Fund("QHHR")" THB 3,360,000,000 (approx. USD 108 million) a property fund for public offering. The proceeds from the offering of the units of QHHR will be primarily used to invest in a long term lease of Centre Point Hotel & Residence Langsuan and acquired Centre Point Hotel & Residence Petchburi and Centre Point Hotel & Residence Sukhumvit.



LS Horizon Limited represents Tesco Lotus Retail Growth Freehold and Leasehold Property Fund (TLGF) managed by Krung Thai Asset Management Public Company Limited in connection with its first capital increase through the offering of the investment units of approximately Baht 7,544,000,000: TLGF invested in 5 additional shopping complexes and hypermarkets under the name "Tesco Lotus" from Ek-Chai Distribution System Co., Ltd.



LS Horizon Limited represented Export-Import Bank of Thailand in connection with THB 70,000,000 project financing provided to Asia Nampapa Luangprabang Company Limited (a Thai majority owned company established in Lao PDR) for the construction of the water supply factory in Luang Prabang Province of Lao PDR.



LS Horizon Limited represented Bangchak Solar Energy Company Limited (BSE), a subsidiary of The Bangchak Petroleum Public Company Limited, in connection with approximate THB 1,800,000,000 project development and project financing provided by Asian Development Bank (on its own behalf and as implementing entity for the clean technology fund) and The Siam Commercial Bank Public Company Limited for the development of the solar power projects with a generating capacity of 16MW (two 8 MW VSPP) located in Chaiyaphum Province and two 16MW (two 8 MW VSPP) located in Ayutthaya Province, respectively in Thailand.



LS Horizon Limited has advised PTG Energy Public Company Limited (the "Company"), which operates the business of distribution of petroleum products and equipment for gas stations, including fuel selling through its PT petrol stations, in connection with its initial public offering ("IPO") and listing of its shares on the Stock Exchange of Thailand ("SET"). The Company offers 420,000,000 newly issued shares to the public at Baht 3.90 per share, equalling to the total value of Baht 1,638,000,000. The Company commenced its first day trade on 30 May 2013.



LS Horizon advised the Government of Lao PDR in the issuance of the baht bonds in Thailand in the amount of Baht 1.5 billion with a term of three years and an interest rate of 4.5 per cent per annum. Such issuance marks the Government of Lao PDR first foray into the work market.




ASIALAW PROFILES

 

Asialaw Profiles has ranked our firm as follows:

 

  • Highly Recommended in

Capital Markets in 2016-2017

Construction & Real Estate in 2016-2017

Project & Infrastructure in 2016-2017

Dispute Resolution in 2016-2017

 

  • Recommended in

Banking and Finance in 2017

Corporate / M&A in 2017

Energy & Natural Resources in 2016

Insurance in 2016

Labour & Employment in 2016

 

Asialaw Profiles has recognized our firm’s leading lawyers as follows:

 

  • Mr. Wanchai Yiamsamatha has been recognized as a leading lawyer in the following practice areas:
  • Dispute Resolution in 2011, 2012, 2014, 2016 and 2017
  • Regulatory & Government in 2009, 2010 and 2012
  • Mr. Prechaya Ebrahim has been recognized as a leading lawyer in Dispute Resolution in 2013, 2014, 2016 and 2017
  • Mr. Chaipat Kamchadduskorn has been recognized as a leading lawyer in Banking and Finance in 2014 and 2016, in Energy & Natural Resources in 2016-2017, and in Project & Infrastructure in 2017
  • Mr. Sunpasiri Sunpa-a-sa has been recognized as a leading lawyer in Corporate and M&A in 2016 and 2017
  • Mr. Lersak Kancvalskul has been recognized as a leading lawyer in Dispute Resolution in 2012-2014

 

CHAMBERS & PARTNERS ASIA PACIFIC

 

Chambers & Partners Asia Pacific 2017 has ranked our firm as follows:

 

  • Band 2 for

Dispute Resolution

Real Estate

 

  • Band 3 for

Capital Markets

Projects & Energy

Chambers & Partners Asia Pacific has recognized our firm’s leading lawyers as follows:

     

  • Mr. Prechaya Ebrahim has been recognized as a Band 1 leading Dispute Resolution Lawyer in 2013-2017
  • Mr. Lersak Kancvalskul has been recognized as a Band 2 leading Dispute Resolution Lawyer in 2013-2017
  • Mr. Chaipat Kamchadduskorn has been recognized as a Band 2 leading Projects & Energy Lawyer  in 2014 and as a Band 3 in 2015, 2016 and 2017
  • Mr. Wanchai Yiamsamatha has been recognized as a Band 2 leading Dispute & Resolution Lawyer in 2015 and as a Band 3 in 2014, 2016 and 2017.  He has also been recognized as a Band 2 leading Technology, Media, Telecoms Lawyer in 2017

 

CHAMBERS GLOBAL 2013

 

Chambers Global 2013 has ranked our firm as follows:

 

  • Band 2 for

Projects

 

  • Band 3  for

Banking and Finance

Corporate/M&A.

 

Chambers Global 2013 has recognized our firm’s leading lawyers as follows:

     

  • Mr. Chaipat Kamchadduskorn has been recognized as a Band 2 leading Projects: Thailand Lawyer
  • Mr. Sunpasiri Sunpa-a-sa has been recognized as (Spotlight table) for Corporate/M&A (Foreign Experts)

 

THE LEGAL 500 ASIA PACIFIC

 

The Legal 500 Asia Pacific has ranked our firm as follows:

 

  • 2nd Tier for

Dispute Resolution in 2013-2017

Real Estate and Construction in 2013-2017

Projects and Energy in 2013-2015

 

  • 3rd Tier for 

Banking and Project Finance in 2013-2017

Corporate and M & A (including capital markets) in 2013-2017

Restructuring & Insolvency in 2016-2017

 

The Legal 500 Asia Pacific has recognized our firm’s leading lawyers as follows:

 

  • Mr. Lersak Kancvalskul has been recognized as a leading individual in Dispute Resolution in 2013-2015 and in Restructuring & Insolvency in 2016-2017
  • Mr. Chaipat Kamchadduskorn has been recognized as a leading individual in Banking and Finance in 2013-2017

 

IFLR 1000 – FINANCIAL LAW FIRM RANKINGS

 

IFLR 1000 has ranked our firm as follows:

 

  • 2nd Tier for

Capital Markets in 2013, 2014 and 2016

Mergers and Acquisitions in 2013, 2014 and 2016

Restructuring and Insolvency in 2013, 2014 and 2016

Energy and Infrastructure in 2016

  • 3rd Tier for 

Banking and Finance in 2013, 2014 and 2016

 

 

IFLR 1000 Asia Pacific has recognized our firm’s leading lawyers as follows:

 

  • Mr. Chaipat Kamchadduskorn has been recognized as leading lawyers in 2013, 2014 and 2016
  • Ms. Xaynari Chanthala has been recognized as a leading lawyer in 2014

 

LS Horizon  has been recognized as a Highly Recommended Firm in the International Financial Law Review (IFLR1000)/Petroleum Economist: Energy and Infrastructure Guide (2014)

 

ASIAN-MENA COUNSEL MAGAZINE

 

LS Horizon has been named as “In-House Community Commended External Counsel 2016”




LS HORIZON LIMITED

14th Floor, GPF Witthayu Tower A
93/1 Wireless Road, Lumpini, Phatumwan
Bangkok 10330 Thailand

Tel. (+662) 627-3443 Fax. (+662) 627-3250
E-mail. information@lshorizon.com

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