Latham & Watkins Asia Practice Recognized for Work on 9 Deals of the Year in 2018

Latham advised on more winning deals than any other international firm in the Asian-mena Counsel 2018 survey.

March 25, 2019

In 2018, Latham & Watkins advised on eight award-winning deals and one honorable mention transaction in Asian-mena Counsel’s 2018 “Deals of the Year” awards — more winning deals than any other international firm.

Latham advised on a number of landmark deals in Asia spanning capital markets, banking, and M&A, including:

  • ChemChina’s six-tranche bond, which raised the equivalent of US$6.4 billion and was Asia’s biggest-ever Reg-S bond. Latham advised ChemChina, a Chinese state-owned manufacturer and distributor of chemical products.
  • NagaCorp’s issuance of high-yield bonds, which was the first time a Cambodian company issued offshore bonds. Latham advised the underwriters.
  • Temasek’s S$500 million bond offering under Temasek Financial (IV) Limited’s S$5 billion MTN program that is guaranteed by Temasek Holdings (Private) Limited. This is the first Temasek bond offering which included a retail tranche in Singapore. Latham advised Temasek.
  • Vinhomes JSC’s US$1.35 billion initial equity offering, the largest-ever equity issuance in Vietnam. Latham advised Vinhomes, a property developer, on its listing and on a related investment by GIC Private Limited.
  • San Miguel Food and Beverage’s US$640 million follow-on equity offering, one of the largest follow-on offerings in the history of the Philippine equities market. Latham represented San Miguel Food and Beverage, Inc. and its parent company, San Miguel Corporation, one of the largest and most diversified conglomerates in the Philippines. FinanceAsia named it the Best Philippines Deal in 2018.
  • Thai Future Fund’s US$1.4 billion IPO. Latham advised the Expressway Authority of Thailand, as asset owner and operator, in an initial public offering of investment units in a government-backed infrastructure fund listed on the Stock Exchange of Thailand. FinanceAsia named it the Best Thailand Deal in 2018.
  • NIO, Inc.’s US$1 billion IPO. Latham advised the underwriters on this New York Stock Exchange listing of 160,000,000 American depositary shares of a pioneer in China’s premium electric vehicle market.
  • Bayfront Infrastructure Capital infrastructure project finance securitization. Latham represented Clifford Capital Pte. Ltd, a Singapore-based specialist arranger and provider of project and structured finance solutions, as the sponsor, manager, and subordinated note investor.

Latham also advised on PT Semen Indonesia’s acquisition of an 80.6% stake in Holcim Indonesia from a wholly owned subsidiary of LafargeHolcim Ltd for an enterprise value of US$1.75 billion, which received an honorable mention. Latham advised PT Semen Indonesia on both the share purchase as well as a US$1.305 billion senior secured acquisition facility, together with various backstop facilities at the level of the target.

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