Latham & Watkins Advises on "Power Deal of the Year"

Published 18 January 2011 by Latham & Watkins

Latham & Watkins Advises on Project Finance International's 2010 Asia-Pacific "Power Deal of the Year" and "Local Bank Deal of the Year"

Latham & Watkins advised on the GNPower power project in the Philippines which was named “Power Deal of Year” in Project Finance International’s (PFI) 2010 Asia-Pacific awards. Latham represented co-sponsor Denham Capital Management in this “landmark international project financing in the region.” The 600MW coal-fired power plant located in Luzon in the Philippines is “the first facility that involves a full-range of Chinese equipment and is constructed by a Chinese contractor.” PFI added: “This is the first large-scale greenfield IPP in Luzon in more than 10 years.” Latham also advised on PFI’s “Local Bank Deal of the Year” – the US$2.7 billion debt facility for the US$3.71 billion Hongsa lignite mine and power plant in Laos, which PFI called “the largest project loan ever raised exclusively in the Thai bank market.” Latham advised Bangkok Bank and Siam Commercial Bank, the lead-arrangers, as well as the other lenders and agents.