VILAF

VILAF’s banking and finance practice is led by Duyen Vo Ha and Anh Dang Duong. Vo Ha advised the Japan Bank for International Cooperation (JBIC) on the financing of the $2.5 billion Vung Ang 2 build-operate-transfer (BOT) power project as the arranger. Phong Tran Tuan advised Marubeni Corporation and KEPCO, the sponsors, on the Nghi Son 2 Power Plant project which is considered to be one of the first large-scale power projects in Central Vietnam. The team assisted the client in preparing and drafting relevant documents and obtaining an investment licence.

VILAF has been engaged in most offshore listing transactions involving Vietnamese corporations, either as counsel for the issuer or the book runner.  Hien Nguyen Truc advised Novaland, a real estate developer listed on the Ho Chi Minh City Stock Exchange (HOSE), and Techcom Securities on their issue of D1.55 trillion ($68.2 million) in domestic bonds. Phong Tran Tuan acted for the Bank of Investment and Development of Vietnam, the arranger of Becamex’s two-phase D2.03 trillion bond issue.

The partners at VILAF win high praise from clients for their “vast practical experience and well-verse in real estate law”. VILAF is well-known for advising foreign investors in the development of residential projects and integrated multipurpose real estate projects. Hien Nguyen Truc, co-head of the construction and real estate practice, advised Capitaland (Vietnam) Holdings on its $120 million acquisition of a residential complex in District 1 of Ho Chi Minh City through equity acquisition and debt financing from VINACON and ATP Group. Total investment in the project has been set at $300 million. Ngo Thanh Tung advised Gamuda Land in an M&A transaction relating to the Celadon City Project.

VILAF led by Duyen Vo Ha and Quynh Pham Si Hai advised ANZ in a bidding process to sell its local retail banking business to Shinhan Bank, the successful bidder. The team assisted the client in the bidding process, the customer migration and negotiation of the sale agreement with Shinhan Bank. Anh Bui Ngoc advised ANA Holdings, Japan’s largest airline group, in its $105 million acquisition of 8.8% shares of Vietnam Airlines. This is the first time Vietnam Airlines had been opened to foreign investment since its IPO in 2014. This deal was complex since it was the first time a stake in the state-owned airline was equitised and purchased by a foreign strategic investor.

VILAF continues to play a dominant role in cross-border transactions in the energy and natural resources sector. Phong Tran Tuan advised Marubeni Corporation on the 600W Thai Binh 1 coal-fired thermal power plant with Vietnam Electricity (EVN), which the Japanese government will support through the Japan International Cooperation Agency (JICA). The team particularly advised the client on the engineering, procurement and construction (EPC) contract with EVN. Tran Tuan also advised Sumitomo as sponsor for the 2600MW Van Phong Thermal Power Plant 1.

VILAF has extensive experience in structuring and drafting documents for project finance transactions, along with its top reputation in the finance market. Phong Tran Tuan advised Sumitomo, sponsors for the 2600MW Van Phong Thermal Power Plant 1. The team assisted in preparing relevant documents and negotiating with the Vietnamese authorities to sign a BOT contract over 25 years. The firm is also advising several private equity funds and foreign investors on the legal due diligence and advisory stages for several potential solar and wind power projects in Vietnam.

VILAF, led by Duyen Vo Ha, represented BNP Paribas and AWAS in the financing of a number of Airbus aircraft for Vietjet. The transaction involved secured loan facilities, a lease arrangement and a sub-lease arrangement in several jurisdictions.