YKVN has had an exceptionally good year, winning recognitions from peers and clients for its high visibility in a number of banking, project financing and private-equity transactions. Clients regard it as one of the best local firms in the country....
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YKVN has had an exceptionally good year, winning recognitions from peers and clients for its high visibility in a number of banking, project financing and private-equity transactions. Clients regard it as one of the best local firms in the country. "YKVN is amongst the best law firms in Vietnam as far as banking and finance transactions are concerned," says a client.
Truong Nhat Quang in particular was noted by clients as an "exceptional banking and finance lawyer" and a "key banking lawyer". A deal highlight was his advice to lead managers Barclays, Citigroup and Deutsche Bank on the issuance of $1 billion Vietnam sovereign bonds under Rule144/Regulation S.
Peers often saw the firm acting for state-owned companies, including representing the Vietnam Dairy Product Corporation (Vinamilk) on its $100 million secondary listing on the Singapore Exchange. The Vietnam Bank for Industry and Trade (VietinBank) also mandated the firm on its equalisation, including a domestic IPO, followed by a sale of shares to foreign investors and then an international IPO. The firm also assisted Techcombank on its proposed D1 trillion ($56.1 million) bond issuance
The firm advised foreign clients in a number of power and energy projects. One highlight was acting for China Southern Power Grid International and China Power International Development on the $1 billion financing of a build-operate-transfer (BOT) coal fired power plant, while the firm also advised the Viet-Lao Power Joint Stock Company on the $237 million financing of a hydroelectric plant, which was part funded by a $131 million facility from Natixis guaranteed by the Vietnamese government.
"YKVN is responsive and knowledgeable on financing transactions where they have been involved on our behalf," says a client. "They are deal-focused and have a good commercial sense."
Additional financing deals include advising the International Finance Corporation and Proparco on Techcombank's mortgage loans in Vietnam, valued at D320 million ($18,000) and $15 million respectively. It also acted on aircraft leasing and purchase deals for Vietnam Airlines and Pacific Airlines. Clients note Duong Thu Ha, Vu Dzung and of counsel John Davis. "They are all outstanding lawyers and are pleasant people to work with," says one.
"They provide very good pragmatic advice timely and have good understanding of local market practice that can come up with commercially acceptable solutions," says one client.
The firm acted for a number of foreign clients on their strategic investment in the country, including the purchase of a 5% stake in VP Bank by OCBC Bank. Other highlights include advising Mekong Capital in its acquisition of a share in computer distributor Digiworld and its sale of shares in an liquefied petroleum gas trading company in Vietnam.
Domestic clients include the Masan Group, who the firm advised over the sale of a stake to Bank Invest, and Vinaconex, who the firm counselled on the sale of a cement project to strategic foreign investors.
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