Financial Times Honors Latham & Watkins for Innovative Deal Work in Asia

Financial Times

May 14, 2019

The Financial Times has again recognized Latham & Watkins for novel deal work in the 2019 Asia-Pacific Innovative Lawyers report, an annual review of groundbreaking legal work across the region. Latham recently advised on a series of notable capital markets, project finance, and structured finance transactions that were featured in the report. The Financial Times also named Hong Kong partner Posit Laohaphan among the region’s top 10 legal innovators. Laohaphan earned the distinction of being named a top legal innovator in the Asia-Pacific for his role in groundbreaking transactions, with the Financial Times noting that he has “structured several first-of-a-kind financial products.”

The Financial Times ranked Latham as:

  • Highly Commended for advising underwriters CLSA and BNP Paribas on China Shipbuilding Industry Corporation’s issue of US$1 billion zero-coupon exchangeable bonds listed on the Frankfurt Stock Exchange, which are exchangeable into ordinary shares of the Postal Savings Bank of China. According to the Financial Times, Latham “devised a complex structure, which relied on an orphan special purpose vehicle issuer to achieve off-balance sheet treatment for the bonds while ensuring that bondholders are protected from the credit risks of the SPV issuer.”
  • Commended for advising a consortium of Asia-based lenders in connection with the financing of the Rantau Dedap Geothermal Power Project, a 98.4-MW power facility in South Sumatra, Indonesia. The Financial Times noted that “[t]he unique private-public arrangement provided the initial $50m while sharing the risks of the non-recourse loan with commercial lenders.”
  • Commended for advising Clifford Capital, a Singapore-based specialist arranger and provider of project and structured finance solutions, in connection with the first infrastructure project finance securitization in Asia. The transaction created a “new asset class [that] allows institutional investors other than commercial banks to invest in the portfolio of infrastructure projects.”

Notice: We appreciate your interest in Latham & Watkins. If your inquiry relates to a legal matter and you are not already a current client of the firm, please do not transmit any confidential information to us. Before taking on a representation, we must determine whether we are in a position to assist you and agree on the terms and conditions of engagement with you. Until we have completed such steps, we will not be deemed to have a lawyer-client relationship with you, and will have no duty to keep confidential the information we receive from you. Thank you for your understanding.