Clifford Chance has advised Mizuho Bank, Ltd and ING Bank N.V., Singapore Branch as the lenders in connection with the US$55 million refinancing of a power transmission line in Cambodia.
The project comprises an approximately 110km double circuit 230 kV overhead transmission line which links two substations from North Phnom Penh to Kampong Cham and provides a stable supply of electricity to the greater Phnom Penh region. It is owned and operated by Cambodian Transmission Limited, a special purpose vehicle incorporated in Cambodia and an indirect subsidiary of the Malaysian conglomerate HNG Capital Sdn Bhd.
The loan from Mizuho Bank and ING Bank replaces the financing previously offered by Export-Import Bank of Malaysia Berhad and is supported by a guarantee from the Multilateral Investment Guarantee Agency (MIGA), which provides protection against transfer restriction, expropriation, war and civil disturbance and arbitral award default.
Nicholas Wong (Picture) led a team comprising associates Laurence Wong and Mark Hee and trainee Koo Zheng Xuan. Partner Kabir Singh, counsel Daniel Tan and senior associate Matthew Brown advised on aspects of Singapore and English law; and partner Paul Landless and senior associate Teoh Mae Yen provided derivatives advice.
Involved fees earner: Matthew Brown – Clifford Chance; Mark Hee – Clifford Chance; Paul Landless – Clifford Chance; Kabir Singh – Clifford Chance; Daniel Tan – Clifford Chance; Laurence Wong – Clifford Chance; Nicholas Wong – Clifford Chance; Mae Yen Teoh – Clifford Chance;
Law Firms: Clifford Chance;