Latham & Watkins and Baker & McKenzie have represented Thailand’s PTT Global Chemical Public Company Limited on its inaugural $1 billion bond offering,  the largest ever single-tranche U.S.-dollar bond offering by a Thai corporate.

The issue by PTT Global Chemical Public Company Limited, Thailand’s largest integrated petrochemical and petroleum refining company, comprised of 4.25 percent senior unsecured notes due 2022. It also achieved the lowest ever coupon for a Thai 10-year fixed rate U.S.-dollar bond.

The other firms involved in the transaction were Davis Polk & Wardwell and Allen & Overy Thailand, which represented the initial purchasers as U.S. legal counsel and Thai legal counsel respectively, and Jones Day, which acted as U.S. legal counsel to the trustee.

The Latham team was led by Singapore partners Michael Sturrock and Timothy Hia, and also included U.S. tax partners Sam Weiner and Jiyeon Lee-Lim.

Ranajit Dam is Southeast Asia Editor at ALB. Follow us on Twitter: @ALB_Magazine.

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