Chormas Premsirinirund

Senior Associate
Norton Rose Fulbright (Thailand) Limited

Bangkok
Thailand
T:+662 205 8522
Bangkok
Thailand
T:+662 205 8522
Chormas Premsirinirund

Chormas Premsirinirund

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Biography

Chormas Premsirinirund is a banking and finance lawyer based in Bangkok. She focuses on project finance, corporate finance, general corporate and commercial law.

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


Professional experience

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  • Lawyer, qualified in Thailand

Banking and Finance

  • Advising Bangkok Bank Public Company Limited 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.
  • Advising Bangkok Bank Public Company Limited on the financing of US$250,000,000 term facility to PT Barito Pacific TBK for refinancing of its existing facility and partially funding the acquisition of Star Energy Group Holdings Pte. Ltd.
  • Advising The Siam Commercial Bank Public Company Limited on providing a THB 10,958,000,000 term loan facility to Wind Energy Holding Company Limited for the purposes of refinancing its existing debts and funding its equity contribution to be made in relation to development of 5 wind farm projects in Thailand, with a total capacity of 450MW.
  • Advising The Siam Commercial Bank Public Company Limited on provide credit facilities in a total amount of THB 26,367,000,000 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 5 wind farm projects located in Thailand, with a total capacity of 450MW.
  • Advising TMB Bank Public Company Limited on the financing of a solar power plant project developed by Eco Thaienergy Company Limited under agricultural cooperatives scheme with total capacity of approximately 5 MW located in Samut Sakhon Province.
  • Advising KASIKORNBANK PUBLIC COMPANY LIMITED on providing the THB 1,720,000,000 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.
  • Advising The Siam Commercial Bank Pubic Company Limited on providing THB 900,000,000 facilities to Wind Energy Holding Co., Ltd. for the purposes of funding development costs of 5 wind farm projects in Thailand.
  • Advising The Siam Commercial Bank Public Company Limited on the THB 4,100,000,000 financing of development of a portfolio of 11 solar PV projects, with the 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.
  • Advising Bangkok Bank Public Company Limited on the THB 3,212,000,000 financing of development of a 60 MW wind farm project of Khao Kor Wind Power Company Limited.
  • Advising The Hongkong and Shanghai Banking Corporation on general banking matters including reviewing standard forms for bank's products.
  • Advising Partners Group on a strategic exit from its investment in wind farm projects in Thailand.
  • Advising 8 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.
  • Advising IRPC Clean Power Company Limited on the financing of 2 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.
  • Advised Bangkok Bank Public Company Limited on THB13 billion (approximately US$440 million equivalent) secured term facility to Charoen Pokphand Holding Company Limited for right-offer subscription of shares in True Corporation Public Company Limited, the third largest telecommunications operator in Thailand.
  • Advising CIMB Thai Bank Public Company Limited on the amendment of its THB 2,600 million 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.
  • Advising 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 USD 265,000,000 granted to PT Chandra Asri Petrochemical TBK for its expansion project which we advised Bangkok Bank Public Company Limited and The Siam Commercial Bank Public Company Limited for the refinancing transaction.
  • Advising Bangkok Bank Public Company Limited and The Siam Commercial Bank Public Company Limited on the financing of THB9,805 million 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.
  • Advised CIMB Thai Bank Public Company Limited on its THB 1,800 million 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.
  • Advising Bangkok Bank Public Company Limited and The Siam Commercial Bank Public Company Limited on a crossed boarder syndicated term facility in the principal amount of USD 220,000,000 granted to PT Chandra Asri Petrochemical TBK (CAP) for repurchasing its secured notes and refinancing its existing debts.  CAP, is currently listed on the Indonesia Stock Exchange, the leading suppliers of petrochemical product to various Indonesian manufacturing industries.
  • Advising Total Access Communication Company Limited on its acquisition of a THB 10 billion 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 for funding a fee for the license to operate 3G mobile services on the 2.1GHz spectrum and development of its 3G mobile network.  
  • Advising Total Access Communication Company Limited on its acquisition of THB 30 billion credit facilities from Bangkok Bank Public Company Limited to be used for funding a fee for the license to operate 3G mobile services on the 2.1GHz spectrum and development of its 3G mobile network.
  • Acting as the local counsel for International Finance Corporation (IFC) in relation to its provision of a USD 45,000,000 secured term loan to SRF Industries (Thailand) Ltd.
  • Advising 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 USD 740,000,000 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. which are listed on The Stock Exchange of Hong Kong Limited.
  • Advising Bank of Ayudhya Public Company Limited on the USD 38.5 million term loan facilities and USD 1.5 million 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.
  • Advising TOT Public Company Limited on a THB14.7 billion term loan facility from Bank of Ayudhya Public Company Limited and United Overseas Bank (Thailand) Public Company Limited to fund the construction of its third generation mobile network (3G).
  • Advising Partners Group on its financing of and potential equity investment in two 103.5 MW wind farm projects in Nakhon Ratchasima Province, Thailand.
  • Advising Bangkok Bank Public Company Limited on a THB1.4 billion 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.
  • Advising Bank of Ayudhya Public Company Limited on the THB85 million 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.
  • Advising Cessna Finance Corporation on various Thai law issues relating to the aviation finance business in Thailand.
  • Advising AIG Finance (Thailand) Public Company Limited on various legal and regulatory issues under banking and life insurance regulations.
  • Advising 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.
  • Acting as 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 the Thai airline operator, namely, Thai AirAsia Co., Ltd.

Climate Change and Carbon Finance

  • Advising 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.
  • Conducting a due diligence on a biomass project in Thailand for RWE Power AG.
  • Advising 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.
  • Advising 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.
  • Advising 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.
  • Advising and conducting legal due diligence for Climate Change Capital on its purchase of Certified Emission Reductions (CERs) from 2 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 Venture

  • Advising IRPC Public Company Limited on its sale of 51% equity stake in IRPC Clean Power Company Limited, a company established for development of 240MW gas-fired power projects, to Global Power Synergy Company Limited, a power's arm of PTT Group.
  • Advising Armstrong Asset Management Pte. Ltd. on the structuring and implementation of its quasi-equity investment in Annex Power Limited, a Thai construction company specialized in engineering, procurement and construction services in the area of renewable energy projects.
  • Advising SS National Logistics Co., Ltd. on the THB6.4 billion 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.
  • Advising PTT Aromatics and Refining Public Company Limited on its amalgamation with PTT Chemical Public Company Limited, creating a new listed company with the estimate market capitalisation of THB340 billion, ranking fourth on the Stock Exchange of Thailand.
  • Advising True Corporation Public Company Limited on its approximately US$200 million acquisition of Hutchison's mobile telecommunications entities in Thailand.
  • Assisting Nestlé on the exit from its dairy business in Thailand and Malaysia by selling the relevant assets to Fraser & Neave Holdings Bhd.
  • Advising 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.
  • Advising bidders on the auction sales of several Thai financial institutions, including AIG Retail Bank, BankThai and Siam City Bank.
  • Advising PTT Aromatics and Refining Public Company Limited on its amalgamation with PTT Chemical Public Company Limited, creating a new listed company with the estimate market capitalisation of THB340 billion, ranking fourth on the Stock Exchange of Thailand.
  • Advising 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

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

Others

  • Advising a Thai developer on the development of the 750MW hydroelectric power project to along the Mekong River in Laos.
  • Assisting Total Accession Communication Public Company Limited in preparing the application documents for the auction for the license to provide 3G mobile services on the 2.1GHz spectrum, to be submitted by its wholly own subsidiary, namely DTAC Network Co., Ltd.
  • Advising IRPC Public Company Limited (formerly known as Thai Petrochemical Industry Public Company Limited) and its subsidiaries on the change of management issue and on litigation issues relating to the termination of the business reorganisation.
  • Advising Euro-Center (Thailand) Company Limited in applying for the Foreign Business Certificate.
  • Assisting CFG Services Co., Ltd. in establishing the company, applying for a certificate under the Treaty of Amity and Economic Relations between the U.S. and Thailand and proceeding the transferring the service mark to the company.
  • Advising 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.
  • Advising IRPC Public Company Limited on various issues in relation to corporate laws and regulations.
  • Advising ABN AMRO Bank N.V. and its subsidiary, ABN AMRO Asset Management (Netherlands) B.V. on legal and regulatory issues in connection with conducting business of private fund management and investment advisory services in Thailand.
  • Advised Barclays Bank PLC on the Thai fuel trading regulatory regime.
  • Advising Chevron (Thailand) Limited on issues relating to foreign business law in Thailand and the proposed restructuring of its petrol station business.
  • Assisting Valeo Compressor Company Limited and Valeo Compressor Clutch Company Limited on general corporate matters.
  • Advising RS Components Company Limited on general corporate matters.