Project Finance and Energy
The YKVN Project Finance group is recognized as the leading choice for the financing and development of the most significant projects in Vietnam. We represent a diverse group of private and state-owned entities, both borrowers and lenders, and regularly act for international banks and financial institutions. YKVN is one of the few Vietnam-based firms capable of acting as lead counsel on multi-jurisdictional transactions and our pioneering role within the industry has been instrumental in moving Vietnamese banks to accept international standard documents within the jurisdiction.
Our team’s strong legal skills and deep industry knowledge are evidenced by consistently high rankings within the legal press. Our lawyers possess a wealth of transactional experience and the Firm is widely considered to be at the forefront of developments in the syndicated loan market.
The Firm’s approach to staffing emphasizes the strong integration of its resources so that the best available lawyers in the Firm are deployed on client matters without regard to the matter’s connection with any one office.
Representative clients include major Vietnamese project sponsors and developers (Vinashin, PetroVietnam, Phu My Construction and Investment Joint Stock Company, and Southern Steel Corporation), foreign project sponsors and developers (China Southern Power Grid International, China Power International Development, and Keangnam), Vietnamese commercial banks (Vietcombank, BIDV, and Vietinbank), international commercial banks (ANZ Bank, Credit Lyonnais and Fortis Bank), bilateral financial institutions (Korean Export-Import Bank, China Development Bank, and Export-Import Bank of Malaysia), and multilateral financial institutions (International Finance Corporation and the Asia Development Bank).
Representative transactions include:
- Advising KEXIM and the lenders in connection with the international financing of the Mong Duong 2 Power Plant, a 1,200MW coal-fired power plant located in Quang Ninh province and developed by AES, Posco Engineering and Construction and Stable Investment Corporation, a subsidiary of China Investment Corporation (named “Deal of the Year” 2011 by Asian Counsel).
- Acting with the International Finance Corporation (IFC) and advising the Ministry of Industry and Trade on all phases of the development of the Nghi Son II 2x600MW BOT coal-fired power project in central Vietnam, including selection of investors, negotiation of project documents, in particular the power purchase agreement, and the financial closing.
- Advising the China Development Bank in connection with its financing for the Hai Duong BOT Power Plant, a 1,200MW coal-fired power plant that is located in Hai Duong Province developed by JASK Pacific Power Limited.
- Advising a syndicate of 4 State-owned banks led by Bank for Foreign Trade of Vietnam on a US$ 255 million financing of the construction of Dong Nai 3 and Dong Nai 4 Hydropower Plants (named “Deal of the Year” 2006 by Asian Counsel)
- Advising a syndicate led by Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) on a US$690 million facility to finance Lai Chau Hydropower Project.
- Advising a syndicate led by Joint Stock Commercial Bank for Investment and Development Bank of Vietnam (BIDV) on a US$175 million facility to finance the Zone A1 MGM Grand Ho Tram Resort and Casino Project.
- Advising Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) on a US$157 million facility to finance the construction of the 500KV Pleiku l My Phuoc Cau Bong Transmission Line developed by National Power Transmission Corporation.
- Advising Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) on a US$152 million facility to finance the construction of the 500KV Son La – Lai Chau Transmission Line developed by National Power Transmission Corporation.
- Advising a syndicate led by Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) on a US$150 million facility to finance the capital contribution by PetroVietnam Exploration Production Corporation (PVEP) into a project of exploration and exploitation of petroleum.
- Advising Credit Suisse and a syndication of banks in a US$200 million syndicated financing for Vietnam National Coal, Mineral Industries Group.