June 07, 2017
The Financial Times has recognized Latham & Watkins for its novel work on two landmark energy deals in the 2017 Asia-Pacific Innovative Lawyers report, an annual review of innovative legal work across the region. The report recognizes “the law firms behind the most transformational transactions in the region” with the aim to “uncover the real value that lawyers deliver to business.”
Latham was “Highly Commended” for crafting a complex, first-of-its-kind green dollar bond for client ReNew Power, one of India’s largest independent power producers in the renewable energy sector, in order to access the capital markets. According to the Financial Times, Latham lawyers “navigated complex Indian regulatory restrictions to design a structure for a back-to-back issuance of Indian rupee denominated ‘Masala’ bonds, and US dollar bonds through an independent offshore special purpose vehicle, Neerg Energy.” Singapore partner Rajiv Gupta, Hong Kong partner James Burnett and Hong Kong counsel Louis Rabinowitz led the Latham team.
In addition, Latham was “Commended” for representing the government of Indonesia in the financing of Train 3 of the Tangguh liquefied natural gas ("LNG") plant in West Papua, Indonesia. According to the Financial Times, Latham advised on the “design and structure of a new onshore bank tranche” to finance the landmark project, which “creates thousands of local jobs and provides greater energy security in the area.” Singapore partner Clarinda Tjia-Dharmadi led the Latham team.
The two deals build on Latham’s long history of corporate and finance work across the Asia-Pacific region, including a number of sector-defining transactions.