Vu DzungPartner

    Vu Dzung

    Partner
    Ho Chi Minh City

    Expertise

    Banking and Finance

    Capital Markets

    Corporate and M&A

    Energy & Infrastructure

    Private Equity

    Vu Dzung focuses on banking and finance, capital markets, M&A and corporate matters. His major clients include both state-owned and international banks as well as domestic and international private equity funds active in or focusing on Vietnam. Dzung has led numerous significant asset financing transactions, especially aircraft financings, and project financings, in particular infrastructure financings. He has been involved in major debt and equity capital markets transactions onshore and offshore. He is also a recognised lawyer in M&A practice with various clients in both sell side and buy side. Additionally, multinational corporations and Vietnam-based foreign invested companies regularly seek his advice on corporate, trade and tax issues.

    Dzung is listed by IFLR1000 as a Leading Lawyer in banking and finance (2018-2019-2020) and a Distinguished Practitioner in banking and finance, capital markets and corporate and M&A by Asialaw (2020). He has been described as a “very capable” lawyer who regularly advises clients in sectors such as retail and insurance on high-value acquisitions and divestments. (Chambers, 2019), a “very strong lawyer” who has a “great ability to work with Vietnamese regulations to offer a workable solution.” (Chambers, 2015). Among the publications he has co-authored is the Vietnam Law and Practice Section of the Project Finance 2019 Panorama (2nd edition) by Chambers and Partners. He has also written articles on banking and financial law in the International Financial Review and Vietnam Investment Review and Vietnam Economic Times.

    Education

    AOTS/JIII Industrial Property Rights Training Course for Lawyers in Japan (2003)

    Hanoi National University, School of Law, LL.B. (2000)

    Hanoi Foreign Language University, B.A. English (1999)

    Bar Membership

    Hanoi Bar Association
    Inter-Pacific Bar Association

    Aircraft Leasing

    • Represented SkyWest Inc. in subleasing of four Bombardier Regional Jet Model CRJ-900 aircraft to Air Mekong;
    • Represented AerCap on the lease of an Airbus A320-200 aircraft and a Boeing B737-400 aircraft to Jetstar Pacific Airlines;
    • Represented AirCastle on the lease of an Airbus A320-200 aircraft to Jetstar Pacific Airlines;
    • Represented Babcock & Brown on the lease of an Airbus A320-200 aircraft to Jetstar Pacific Airlines;
    • Represented Alafco Aviation Lease and Finance Company on the lease of an Airbus 320-214 aircraft to Vietjet Air; and
    • Represented CIT Aviation Finance II (Ireland) Ltd on the lease of an Airbus A320-200 to Vietjet Air.

    Banking

    • Represented Vietnam Airlines Corporation as borrower counsel on a US Eximbank financing of four Boeing 777 aircraft, the first US Eximbank financing in Vietnam;
    • Represented Vietnam Airlines Corporation as borrower counsel on an ECGD-COFACE-HERMES-guaranteed financing of ten Airbus 321-231 aircraft, the first combined European ECA guaranteed-financing in Vietnam;
    • Represented Vietnam Airlines Corporation as borrower counsel on an ECGD-COFACE-HERMES-guaranteed financing of six ATR-72 500 aircraft;
    • Represented Ha Tien 1 Cement Corporation as borrower counsel on a HERMES-buyer-credit financing for the development of Binh Phuoc Cement Plant, one of the biggest cement plants in Vietnam;
    • Represented PVGas as borrower counsel on the US$133 million financing by a syndicate of onshore and offshore lenders led by the Standard Chartered Bank;
    • Represented Vietcombank, BIDV and Vietinbank as lender counsel on various syndicated and single financings, in particular for power, cement and other infrastructure projects in Vietnam;
    • Represented the International Finance Corporation as lender counsel on various financings in Vietnam; and
    • Represented Standard Chartered Bank and a syndicate of onshore and offshore lenders on the US$90 million financing in favor of Bank for Investment and Development of Vietnam.

    Dzung regularly advises foreign banks such as Standard Chartered Bank, Citibank, Rabobank, HSBC, Societe Generale and the Bank of Tokyo-Mitsubishi UFJ Ltd. on the banking operations, regulatory compliance, and the foreign currency transactions, trade financing, mortgages, pledges and guarantees.

    Capital Markets

    • Represented joint lead managers Barclays, Citigroup and Deutsche Bank on the US$1 billion Rule 144A/Regulation S sovereign bonds of Vietnam;
    • Represented Credit Suisse as underwriter counsel in the Vingroup’s US$185 million and US$200 million bond issuances in 2012 and 2013, respectively;
    • Represented Credit Suisse as underwriter counsel in the Vincom’s US$100 million convertible bond issuance in 2009;
    • Represented HSBC and Standard Chartered Bank as underwriter counsel in the VND2,400 billion bond issuance for Techcombank;
    • Represented Techcombank as issuer counsel in the VND3,000 billion convertible tier 2 capital bond issuance;
    • Represented Indochina Vietnam Capital Holdings on the formation of a US$500 million Vietnam focused international equity fund listed on the London Stock Exchange (main board); and
    • Represented Vinamilk as issuer counsel in the proposed offshore offering and listing of its shares on the SGX-ST.

    Mergers & Acquisitions

    • Acted as Vietnamese counsel to Warburg Pincus in the strategic partnership with Vingroup Joint Stock Company to substantially build out Vingroup’s retail property business (“Vincom Retail”). Comprised of seven assets valued at approximately US$1.1 billion, Vincom Retail is Vietnam’s largest owner and operator of shopping malls, which include world class shopping, recreational and dining facilities;
    • Acted as Vietnamese counsel to the founding shareholders of Prime Group Joint Stock Co, one of the biggest ceramic producers and traders in Vietnam, with about 20 subsidiaries throughout the country, in the sale of 85% of its equity capital to Siam Cement Group;
    • Acted as counsel to Marico Ltd, one of the leading Indian consumer goods and beauty-care services companies, on its acquisition of 85% stake in International Consumer Products Corporation (ICP), one of the fastest growing fast-moving consumer goods (FMCG) companies in Vietnam;
    • Represented Dream Incubator in its investments in a number of companies in Vietnam such as Nutifood, Japan Vietnam Medical Instrument JSC, Kyoto Medical Science JSC and some other pharmaceutical distribution companies;
    • Represented Mekong Capital in various investments in Vietnamese companies such as Mobile World, Digiworld, Venture International (Vietnam) JSC, MK Smart, etc.; and
    • Represented Masan Group Corporation as seller on a number of sales of stakes in its subsidiaries to BankInvest, Mekong Capital and House Food.

    Rankings

                 

    2020
    Distinguished practitioner | Banking and Finance | Asialaw
    Distinguished practitioner | Corporate and M&A | Asialaw
    Distinguished practitioner | Capital Markets | Asialaw

    Band 2 | Corporate and M&A | Chambers
    Band 2 | Banking & Finance | Chambers
    Band 2 | Capital Markets | Chambers

    Highly regarded | Banking | IFLR

    2019
    Leading lawyer | Banking and Finance | Asialaw

    Band 2 | Banking and Finance |Chambers
    Band 2 | Capital Markets | Chambers
    Band 2 | Corporate and M&A | Chambers
    Band 3 | Project, Infrastructure and energy | Chambers

    Highly regarded | Banking | IFLR

    2018
    Band 2 | Banking & Finance | Chambers
    Band 1 | Capital Markets | Chambers
    Band 3 | Corporate and M&A | Chambers
    Band 2 | Project, Infrastructure and energy | Chambers

    Comments

    “Very capable lawyer who regularly advises clients in sectors such as retail and insurance on high-value acquisitions and divestments“
    “Commercially minded and extremely responsive”
    “A very strong lawyer who has a “great ability to work with Vietnamese regulations to offer a workable solution“
    “A very good transactional lawyer”
    “Very good written skills”
    “Comprehensive knowledge of banking practice and innovative advice when something gets stuck”
    “Very commercially minded and meticulous”
    “Excellent on projects”
    “Very strong lawyer”
    “Good business sense and legally sound practical solutions”
    “Increasingly prominent and consistently skilled in his work”
    “Very capable lawyer”
    (Chambers)

    • Co-authored the Vietnamese chapter of Banking Yearbook 2004, International Financial Law Review, 2004;
    • Co-authored certain articles on banking and financial law published in Vietnam Investment Review and Vietnam Economic Times; and
    • Spoke on US anti-dumping law in various seminars and workshops organized by the Vietnam Chamber of Commerce and Industry.
    • Spoke on corporate governance matters and issues in seminars and workshops organized by the IFC, the Hanoi Stock Exchange and SCIC.
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