Latham & Watkins represented PTT Global Chemical Public Company Limited, Thailand’s largest integrated petrochemical and petroleum refining company, in connection with its inaugural US$1 billion bond offering. The issue comprised of 4.25% Senior Unsecured Notes due 2022, representing the largest ever single-tranche US-dollar bond offering by a Thai corporate. The bond also achieved the lowest ever coupon for a Thai 10-year fixed rate US-dollar bond.
The Latham team was led by Singapore partners Michael Sturrock and Timothy Hia. They were supported by Hong Kong counsel Posit Laohaphan, Hong Kong associate Wally Suphap and Singapore associate Alex Ye. US tax advice for the transaction was provided by Los Angeles partner Sam Weiner, New York partner Jiyeon Lee-Lim and Singapore associate Jason Choi.
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