Corporate and Finance Teams Advise on Three FinanceAsia Deals of the Year

FinanceAsia

December 20, 2011

Latham & Watkins advised on three deals of the year in FinanceAsia’s 2011 Achievement Awards including the highly coveted Deal of the Year which the magazine called “the defining deal of 2011.” Corporate and finance teams in Latham’s Asia practice were among the honorees for three award-winning deals:

  • Best High Yield Bond, Best Leveraged Finance Deal – Latham advised Vedanta Resources on its $6 billion acquisition financing for Cairn India and $1.65 billion bond which was described as “Asia’s biggest corporate high-yield bond to date,” with FinanceAsia adding: “[T]he advisers structured an acquisition finance package that reduced Vedanta’s dependence on the bank market, provided access to cheap fixed-rate funds and allowed it to tap a variety of different investor types.”
  • Best Indonesia Deal – Latham advised Pertamina on its $1 billion 10-year and $500 million 30-year bond, with FinanceAsia acknowledging how “the company successfully tapped the international bond market twice in quick succession,” adding “[e]ach of the tranches was swiftly executed and for a debut issuer Pertamina broke new ground, issuing a rare sub-investment grade 30-year bond ahead of the Indonesian sovereign. Its successful debut transaction helped establish a liquid yield curve for the borrower, positioning it for future issuance.” This deal was also recognized as the overall 2011 Deal of the Year, with FinanceAsia stating: “The ability of a company such as Pertamina to tap international bond investors for 30-year money is no mean achievement and, in a year when debt deals came to the fore, is our pick for the defining deal of 2011.”
  • Best Vietnam Deal – Latham advised the lenders on the $1.5 billion financing of Mong Duong II Power Project, which was described as “the country’s biggest private sector power project” and “an important power plant project … that should help Vietnam develop its industries further.” FinanceAsia added: “This deal represents both a significant step toward permitting more foreign investment into Vietnam and a step toward developing the nation’s economy.”

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