Latham assists Vingroup’s first international offer

Vingroup's real estate subsidiary, Vinhomes

Latham & Watkins has advised Vietnam’s largest listed conglomerate, Vingroup, in its first international bond offering.

Vingroup’s offering consisted of USD500 million of 3% exchangeable bonds due 2026. The bonds are listed on Singapore’s stock exchange and are exchangeable into shares of its real estate subsidiary, Vinhomes.

The Latham team that represented Vingroup was led by partners Sharon Lau in Singapore and Posit Laohaphan in Hong Kong, and included counsel Monsiree Jirasarunya in Singapore and Derek Chua in Hong Kong, with assistance from associates Sirada Chayabunjonglerd and Carmen Yu in Hong Kong.

“Vietnam continues to be one of the fastest-growing markets in Southeast Asia, despite the global pandemic, and is increasingly recognised as a major global manufacturing hub,” Lau, who is also vice-chair of the firm’s corporate practice, told Asia Business Law Journal.

“We see considerable opportunities for our rapidly expanding Vietnam practice, with a particular focus on capital markets and M&A, as some of the country’s largest conglomerates seek to do business overseas, while international investors increasingly view Vietnam as an attractive destination for new ventures.”