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Allen & Overy has advised Thailand’s JASIF on its rights offering and acquisition of infrastructure assets

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Auychai Suparerk
Suparerk Auychai

Partner

Bangkok

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Anchalee Limviriyalers

Counsel

Bangkok

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06 December 2019

Allen & Overy has advised Jasmine Broadband Internet Infrastructure Fund (JASIF), an infrastructure fund managed by BBL Asset Management Company Limited (BBLAM) and listed on the Stock Exchange of Thailand, on its rights offering of new investment units worth THB22,500,000,000 and on a THB18,160,000,000 loan facility from Bangkok Bank to acquire optical fibre cables of 700,000 core kilometres from TTT Broadband Public Company Limited (TTTBB), one of Thailand’s market leaders in the broadband industry.

The fibres comprise of 15,643 routes, covering a distance of 57,580 kilometres in 925 districts of 77 Thai provinces. The deal was closed on 20 November 2019. A&O’s involvement covered all key aspects of the transaction including the rights offering, financing and acquisition of the fibres, demonstrating our cross-practice capabilities.

This transaction follows our involvement in JASIF’s IPO on the Stock Exchange of Thailand in 2015 where A&O acted for the underwriter (Bualuang Securities Public Company Limited) and the initial purchaser (Morgan Stanley).

The A&O team on the deal was led by Bangkok-based partner Suparerk Auychai and Bangkok-based counsel Anchalee Limviriyalers, with support from senior associate Peerajit Chanmolee and associates Natthicha Wiriyatornphan and Pichaya Ruamsub.  

For further information on the transaction, please contact Juliet Peberdy, Juliet.Peberdy@allenovery.com, +852 2974 6919.