23 September, 2011
Baker & McKenzie recently advised the mobile business group of True Corporation Public Company Limited (True Group) on their THB 48.9 billion (USD1.63billion) credit facilities, financed by syndicated Thai bank lenders and arranged by The Siam Commercial Bank Public Company Limited and Krung Thai Bank Public Company Limited. The new credit facilities will be used by True Group for expansion of the HSPA wireless telecommunication business, refinancing of existing debts and as working capital for business operations. Concurrently, Baker & McKenzie advised True Move Company Limited, one of the largest mobile operators in Thailand, in connection with the tender for purchase of its outstanding USD bonds in the amount of USD425 million and USD225 million from the bondholders.
The Baker & McKenzie team was led by Bangkok-based Banking & Finance partner Chaveewan Likhitwattanachai, supported by Banking & Finance lawyers Kullapa Stavorn and Kanokpan Poovaratanakul.
Commenting on the deals, Chaveewan Likhitwattanachai said, “We are delighted to have assisted ourlong-standing clients, True Corporation and its subsidiaries, on successfully concluding these strategically important transactions. This financing transaction will, among other things, support our client’s nationwide network roll-out of the mobile business under the HSPA system, which will provide better, more advanced communication technology to users in Thailand.”