Chormas Premsirinirund

Senior Associate
Norton Rose Fulbright (Thailand) Limited

Bangkok
Thailand
T:+65 6309 5308
Bangkok
Thailand
T:+65 6309 5308
Chormas Premsirinirund

Chormas Premsirinirund

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Biography

Chormas Premsirinirund is a banking and finance lawyer based in Bangkok.

She focuses her practice on banking and finance, project finance, corporate finance, general corporate and commercial law.

Chormas graduated with a Bachelor of Laws from Chulalongkorn University (First Class Honours) and a Master of Laws degree from The London School of Economics and Political Science.


Professional experience

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  • Bachelor of Laws from Chulalongkorn University (First Class Honour);
  • Master of Laws degree from The London School of Economics and Political Science.
  • Lawyer, qualified in Thailand

Advising:

Banking and finance

  • Bangkok Bank Public Company Limited on the US$75m financing of the construction of the swine complex project developed by Jilin Zhong Xin Chia Tai Food Company Limited located in Jilin Province, the People's Republic of China.
  • ACH1 Holdings, a fund under management of Aura Group, on providing financing to Tantakitt Company Limited in relation to refurbishment and renovation of The Montien Hotel, Bangkok and development of Jongkolnee Residence Building.
  • KASIKORNBANK PUBLIC COMPANY LIMITED on its sale of account receivables to ANZ Bank (Thai) Public Company Limited; and the provision of a THB4bn revolving facility to dtac TriNet Co., Ltd. for business investment and general corporate purposes of the borrower, Total Access Communication Public Company Limited and its subsidiaries.
  • Bangkok Bank Public Company Limited, Bank of Ayudhya Public Company Limited, KASIKORNBANK PUBLIC COMPANY LIMITED, Krung Thai Bank Public Company Limited and The Siam Commercial Bank Public Company Limited on providing a THB3.9bn term loan facility to Kasem Subsiri Co., Ltd., a subsidiary of TCC Assets (Thailand) Co., Ltd., to develop a mixed-use real estate project, known as The PARQ Project, located in Bangkok, Thailand; and on the provision of US$579.4m term loan facilities to Long Son Petrochemicals Company Limited, a subsidiary of The Siam Cement Public Company Limited, to finance development of its integrated petrochemicals complex and ancillary facilities in Long Son Island, Southern Vietnam.
  • Bank of Ayudhya Public Company Limited, Kiatnakin Bank Public Company Limited, Krung Thai Bank Public Company Limited and The Siam Commercial Bank Public Company Limited on providing a THB96.5bn bridge loan facility to Global Power Synergy Public Company Limited to finance its acquisition of shares of Glow Energy Public Company Limited from ENGIE Global Developments B.V. and the subsequent tender offer; and on the provision of a THB6bn revolving facility to dtac TriNet Co., Ltd. for business investment and general corporate purposes of the borrower, Total Access Communication Public Company Limited and its subsidiaries.
  • The Siam Commercial Bank Public Company Limited on the financing of 9.9 MW biomass power plant project developed by Uni Power Tech Co., Ltd.
  • Asian Development Bank and Bangkok Bank Public Company Limited on the financing of the development of the 25MW biomass power plant by Gulf Chana Green Company Limited.
  • Mizuho Bank, Ltd. on providing a THB6bn revolving facility to dtac TriNet Co., Ltd. for business investment and general corporate purposes of the borrower, Total Access Communication Public Company Limited and its subsidiaries.
  • Sumitomo Mitsui Banking Corporation (Bangkok Branch) on providing a THB5bn revolving facility to dtac TriNet Co., Ltd. for business investment and general corporate purposes of the borrower, Total Access Communication Public Company Limited and its subsidiaries.
  • Bangkok Bank Public Company Limited on the financing of a THB 2.4bn term facility to TCM Corporation Public Company Limited to refinance its existing facility.
  • The Siam Commercial Bank Public Company Limited on the financing of THB432m to Gunkul Engineering Public Company Limited in order to repurchase its promissory notes issued to The Siam Commercial Bank Public Company Limited by providing security over assets of BMP Solar Co., Ltd in relation to an 8 MW solar power plant project located in Sa Kaeo Province.
  • The Siam Commercial Bank Public Company Limited on providing THB 1.5bn facilities to Grande Asset Hotels and Property Public Company Limited for the acquisition of shares in Royal Orchid Hotel (Thailand) Public Company Limited.
  • Bangkok Bank Public Company Limited on the financing of THB 21.8bn to SAIC Motor-CP Company Limited for construction of a car assembly plant (phase II) located in Chonburi Province and to refinance its existing facility; on US$8.2m financing for the construction of a prawn farm project developed by C.P. Aquaculture (Dongfang) Co., Ltd. located in Hainan Province, the People's Republic of China; on the financing of the construction of a 97 MW gas-fired co-generation power plant project developed by Berkprai Cogeneration Company Limited, a joint venture company of Rajburi Sugar Co., Ltd. and Ratchaburi Electricity Generating Company Limited, located in Ratchaburi Province; on the financing of US$250m term facility to PT Barito Pacific TBK for the refinancing of its existing facility and partially funding the acquisition of Star Energy Group Holdings Pte. Ltd.
  • The Siam Commercial Bank Public Company Limited on providing a THB11bn term loan facility to Wind Energy Holding Company Limited for the purposes of refinancing its existing debt and funding its equity contribution to be made in relation to development of five wind farm projects in Thailand, with a total capacity of 450MW; on the provision of  aTHB 26.4bn loan to Thepharak Wind Co., Ltd., Tropical Wind Co., Ltd., K.R.S. Three Co., Ltd., K.R. One Co., Ltd. and Krissana Wind Power Co., Ltd., each a subsidiary of Wind Energy Holding Company Limited, to finance development of five wind farm projects located in Thailand, with a total capacity of 450MW.
  • TMB Bank Public Company Limited on the financing of a solar power plant project developed by Eco Thaienergy Company Limited under an agricultural cooperatives scheme with total capacity of approximately 5 MW located in Samut Sakhon Province.
  • KASIKORNBANK PUBLIC COMPANY LIMITED on providing THB 1.7bn facilities to Restaurants Development Co., Ltd. for the acquisition of 130 KFC stores in Thailand and relevant assets from Yum Restaurants International (Thailand) Co., Ltd.
  • The Siam Commercial Bank Pubic Company Limited on providing THB9bn facilities to Wind Energy Holding Co., Ltd. for the purposes of funding development costs of five wind farm projects in Thailand; and on the THB4.1bn financing for the development of a portfolio of 11 solar PV projects, with an aggregate capacity of 87MW, of Rang Ngern Solution Company Limited.  The ultimate sponsors of the projects are Gunkul Engineering Public Company Limited and Super Block Public Company Limited.
  • Bangkok Bank Public Company Limited on the THB3.2bn financing for the development of a 60 MW wind farm project by Khao Kor Wind Power Company Limited.
  • The Hongkong and Shanghai Banking Corporation on general banking matters, including reviewing standard forms for the bank's products.
  • Partners Group on a strategic exit from its investment in wind farm projects in Thailand.
  • Eight lenders, consisting of The Siam Commercial Bank Public Company Limited, Bangkok Bank Public Company Limited, KASIKORNBANK Public Company Limited, Bank of Ayudhya Public Company Limited, Land and Houses Bank Public Company Limited, The Bank of Tokyo-Mitsubishi UFJ, Ltd, Mizuho Bank, Ltd. and CIMB Thai Bank Public Company Limited, on the financing of a portfolio of 12 gas-fired cogeneration projects in Thailand, with the aggregate generating capacity of 1,470 MW, sponsored by Gulf Energy Development Company Limited and Mitsui & Co., Ltd.
  • IRPC Clean Power Company Limited on the financing of two gas-fired cogeneration projects, with the aggregate generating capacity of 240MW, involving Government Savings Bank, Krungthai Bank Public Company Limited, Bank of Ayudhya Public Company Limited and Land and Houses Bank Public Company Limited as lenders.
  • Bangkok Bank Public Company Limited on a THB13bn (approximately US$440m) secured term facility to Charoen Pokphand Holding Company Limited for a rights offer subscription of shares in True Corporation Public Company Limited, the third largest telecommunications operator in Thailand.
  • CIMB Thai Bank Public Company Limited on the amendment of its THB2.6bn facility agreement made with Tesco Lotus Retail Growth Freehold and Leasehold Property Fund to fund the borrower's acquisition of certain freehold and leasehold properties used for Tesco Lotus stores.
  • Bangkok Bank Public Company Limited, The Siam Commercial Bank Public Company Limited, IndonesiaExim Bank, DBS Limited and Deutsche Bank (Singapore) on a cross-border term facility (including short-term letter of credit facility and long-term letter of credit facility) in the principal amount of US$265m granted to PT Chandra Asri Petrochemical TBK for its expansion project; we advised Bangkok Bank Public Company Limited and The Siam Commercial Bank Public Company Limited on the refinancing transaction.
  • Bangkok Bank Public Company Limited and The Siam Commercial Bank Public Company Limited on the financing of THB9.8bn facilities for the construction of two 100 MW gas-fired cogeneration power plant project of Ratchaburi World Cogeneration Company Limited, a company jointly owned by Ratchaburi Electricity Generating Holding Public Company Limited, one of the largest power company in Thailand, and the TAF Group.
  • CIMB Thai Bank Public Company Limited on its THB1.8bn loan to Tesco Lotus Retail Growth Freehold and Leasehold Property Fund to fund the borrower's acquisition of certain freehold and leasehold properties used for Tesco Lotus stores.
  • Bangkok Bank Public Company Limited and The Siam Commercial Bank Public Company Limited on a cross-border syndicated term facility in the principal amount of US$220m granted to PT Chandra Asri Petrochemical TBK (CAP) for repurchasing its secured notes and refinancing its existing debt. CAP is currently listed on the Indonesia Stock Exchange, and is a leading supplier of petrochemical products to various Indonesian manufacturing industries.
  • Total Access Communication Company Limited on its acquisition of a THB10bn term loan from a club of Japanese banks, consisting of The Bank of Tokyo-Mitsubishi UFJ, Ltd, Bangkok Branch, Mizuho Corporate Bank, Ltd., Bangkok Branch and Sumitomo Mitsui Banking Corporation, Bangkok Branch, to be used to fund a fee for the license to operate 3G mobile services on the 2.1GHz spectrum and development of its 3G mobile network; on its acquisition of THB3bn credit facilities from Bangkok Bank Public Company Limited to be used to fund a fee for the license to operate 3G mobile services on the 2.1GHz spectrum and development of its 3G mobile network.
  • As local counsel for International Finance Corporation (IFC) in relation to its provision of a US$45m secured term loan to SRF Industries (Thailand) Ltd.
  • Bangkok Bank Public Company Limited and other syndicated lenders, namely Krung Thai Bank Public Company Limited, CIMB Bank Berhad Labuan Offshore Branch and Industrial and Commercial Bank of China (Thai) Public Company Limited on a US$740m credit term facilities granted to CPF Investment Limited, a subsidiary of Charoen Pokphand Foods Public Company Limited, to finance the acquisition of ordinary shares and convertible preference shares in C.P. Pokphand Co., Ltd. listed on The Stock Exchange of Hong Kong Limited.
  • Bank of Ayudhya Public Company Limited on the US$38.5m term loan facilities and US$1.5m working capital facilities granted to DMS Property Investment Private Limited, a joint venture company incorporated under the law of Maldives jointly owned by Dusit Thai Properties Public Company Limited, MBK Public Company Limited, Mr. Chatri Sophonpanich and Coastline Investment PVT. Ltd.
  • TOT Public Company Limited on a THB14.7bn term loan facility from Bank of Ayudhya Public Company Limited and United Overseas Bank (Thailand) Public Company Limited to fund the construction of its 3G mobile network.
  • Partners Group on its financing of and potential equity investment in two 103.5 MW wind farm projects in Nakhon Ratchasima Province, Thailand.
  • Bangkok Bank Public Company Limited on a THB1.4bn credit facility granted to Rayong Terminal Company Limited, a joint venture company between The Siam Cement Public Company Limited and The Dow Chemical Company of U.S.A., to finance the construction of the jetty and storage tank.
  • Bank of Ayudhya Public Company Limited on the THB85m short-term credit facility granted to The Holistic Health Company Limited to finance the payment of shares in the Evason Phuket Ltd. and investment units in the Phuket Island Property Fund and the renovation of the Evason Phuket Resort & Six Senses Spa.
  • Cessna Finance Corporation on various Thai law issues relating to the aviation finance business in Thailand.
  • AIG Finance (Thailand) Public Company Limited on various legal and regulatory issues under banking and life insurance regulations.
  • IRPC Public Company Limited (formerly known as Thai Petrochemical Industry Public Company Limited) on the amendment of the trade credit facility agreement entered into with Krung Thai Bank Public Company Limited.
  • The local counsel for a group of financiers, consisting of Société Genéralé, Commerzbank AG, Norddeutsche Landesbank Girozentrale, ANZ Bank (Europe) Limited, DekaBank Deutsche Girozentrale and SNC Flying Finance 5 - MSN 3489, in relation to the structured finance lease of one Airbus A320-200 aircraft, involving Thai airline operator Thai AirAsia Co., Ltd.

Climate change and carbon finance

  • Dan Chang Bio-Energy Co., Ltd, a Thai CDM project company, on the implementation of Dan Chang Bio-Energy Cogeneration Project, an organic waste composting project, and in relation to the drafting of ERPA for the sale of carbon credits to be generated from the project.
  • On due diligence for a biomass project in Thailand for RWE Power AG.
  • Natural Power Company Limited and Pure Carbon Services GmbH on their joint investment with Modern Green Power Company Limited in relation to development of a biogas CDM project in Krabi Province.
  • Phu Khieo Bio-Energy Co., Ltd, a Thai CDM project company, on the implementation of Phu Khieo Bio-Energy Cogeneration Project, an organic waste composting project, and in relation to the drafting of ERPA for the sale of carbon credits to be generated from the project.
  • Sindicatum Clean Energy Pte Ltd (a subsidiary of Sindicatum Carbon Capital Holdings Limited), on structured investment by its affiliate in two CDM landfill biogas project and a very small power project in Bangkok and Chiang Mai Province, Thailand.
  • And conducting legal due diligence for Climate Change Capital on its purchase of Certified Emission Reductions (CERs) from two CDM projects, biomass power generation and biogas from ethanol production, in Thailand.

Debt restructuring

  • Advising Thai - German Products Public Company Limited, a major stainless steel company listed in the Stock Exchange of Thailand, on the preparation of its business reorganisation plan under the Bankruptcy Court's supervision for the restructuring of its THB3.6 billion debt and the implementation of the business reorganisation plan approved by the Bankruptcy Court.
  • Advising Tuntex Textile (Thailand) Company Limited on the debt restructuring of its THB2.3 billion existing debts and its business reorganisation under its court-sanctioned plan.
  • Advising IRPC Public Company Limited (formerly Thai Petrochemical Industry Public Company Limited) in several aspects as to business reorganisation of Rayong Tank Terminal Company Limited, as part of the overall restructuring of TPI Group's business organisation.
  • Acting for Bangkok Bank Public Company Limited on the restructuring of the THB1.8 billion debts of C.P. Land Co., Ltd.
  • Advising Lehman Brothers (Thailand) Limited, as a strategic investor, on the business reorganisation process of Somprasong Land Public Company Limited.

M&A/joint ventures

  • IRPC Public Company Limited on its sale of a 51% equity stake in IRPC Clean Power Company Limited, a company established to develop 240MW gas-fired power projects, to Global Power Synergy Company Limited, a power's arm of PTT Group.
  • Armstrong Asset Management Pte. Ltd. on the structuring and implementation of its quasi-equity investment in Annex Power Limited, a Thai construction company focused on engineering, procurement and construction services in the area of renewable energy projects.
  • SS National Logistics Co., Ltd. on the THB6.4bn acquisition of 41.54% of shares in Serm Suk Public Company Limited, the exclusive bottler and distributor of PepsiCo Group's beverage products in Thailand.
  • PTT Aromatics and Refining Public Company Limited on its amalgamation with PTT Chemical Public Company Limited, creating a new listed company with an estimated market capitalisation of THB340bn, ranking fourth on the Stock Exchange of Thailand.
  • True Corporation Public Company Limited on its approximately US$200m acquisition of Hutchison's mobile telecommunications entities in Thailand.
  • Nestlé on its exit from the dairy business in Thailand and Malaysia by selling the relevant assets to Fraser & Neave Holdings Bhd.
  • The Hong Kong and Shanghai Banking Corporation on its proposed acquisition of a majority interest in Bangkok Metropolitan Bank Public Company Limited, a nationalised Thai commercial bank from the Financial Institution Development Fund, including an extensive due diligence exercise and negotiation of the share sale agreement.
  • AIG Retail Bank, BankThai and Siam City Bank among other bidders on the auction sales of several Thai financial institutions.
  • Babcock & Brown Securities (Singapore) Pte Ltd on its agreement to acquire an interest of 29.45% in Don Muang Tollway Public Company Limited.

Equity capital markets

  • The domestic and international lead underwriters, led by Kim Eng Securities (Thailand) Public Company Limited and Kim Eng Securities Pte. Ltd., in respect of the approximately US$96m initial public offering of Bangkok Metro Public Company Limited, the operator of the Bangkok subway system; this was the second-largest IPO in 2006.

Others

  • Energy Earth Public Company Limited on legal issues in relation to the finance documents.
  • A Thai developer on the development of a 750MW hydroelectric power project along the Mekong River in Laos.
  • Total Accession Communication Public Company Limited on preparing the application documents for the 3G mobile phone licence auction in the 2.1GHz spectrum, submitted by its wholly own subsidiary, namely DTAC Network Co., Ltd.
  • IRPC Public Company Limited (formerly known as Thai Petrochemical Industry Public Company Limited) and its subsidiaries on a change of management issue and on litigation issues relating to the termination of a business reorganization.
  • Euro-Center (Thailand) Company Limited on applying for a Foreign Business Certificate.
  • CFG Services Co., Ltd. on establishing the company, applying for a certificate under the Treaty of Amity and Economic Relations between the U.S. and Thailand and the transfer of the service mark to the company.
  • Total Services Solutions Public Company Limited (formerly known as GE Money Retail Bank Public Company Limited) on corporate matters i.e. the dissolution of the branch office and the change of directors and the amendment to the objectives of the company.
  • IRPC Public Company Limited on various issues relating to corporate laws and regulations.
  • ABN AMRO Bank N.V. and its subsidiary, ABN AMRO Asset Management (Netherlands) B.V. on legal and regulatory issues related to conducting a private fund management and investment advisory service in Thailand.
  • Barclays Bank PLC on the Thai fuel trading regulatory regime.
  • Chevron (Thailand) Limited on issues relating to foreign business law in Thailand and the proposed restructuring of its petrol station business.
  • Valeo Compressor Company Limited and Valeo Compressor Clutch Company Limited on general corporate matters.
  • RS Components Company Limited on general corporate matters.