Chandler MHM advised on the financing of an Oil Pipeline Project
Chandler MHM Limited, acting as Thai lenders’ counsel, advised Bangkok Bank Public Company Limited (“BBL”) and China Development Bank, Guangdong branch (“CDB”), on the green field financing of a 343 kilometer fuel oil pipeline covering five Provinces from Saraburi Province to Khon Khaen Province and associated storage facilities in Khon Kaen Province (the “Project”). Ashurst acted as English law counsel to the Lenders on the Project.
The Project was developed by Thai Pipeline Network Company Limited (“TPN”), a Thai company owned by Electricity Generating Public Company Limited (holding 44.59% of TPN's shares) and Biggas Technology Co., Ltd. (holding 55.41% of TPN's shares), a subsidiary of Power Solution Technologies Public Company Limited.
CDB, BBL and TPN entered into the facilities agreements and other finance documents on 21 September 2020 for the approximately THB7,800 million financing of the Project. Financial close is anticipated to occur by the beginning of October this year.
Jessada Sawatdipong, co-Managing Partner, and Joseph V. Tisuthiwongse, Partner, led the team with assistance from Tip-apa Limvichai, Counsel, along with support from Suphachok Saengarun and Kun Tanarattananon, Associates. Colleagues in the energy and infrastructure team, comprising of Nuanporn Wechsuwanarux, Partner, and David Beckstead, Counsel, advised on the due diligence report.