{"id":13694,"date":"2024-10-01T13:47:59","date_gmt":"2024-10-01T06:47:59","guid":{"rendered":"http:\/\/13.250.117.83\/?p=13694"},"modified":"2024-10-21T15:00:04","modified_gmt":"2024-10-21T08:00:04","slug":"ykvn-advised-petrovietnam-power-corporation-on-both-international-and-local-financing-for-the-nhon-trach-3-and-nhon-trach-4-lng-to-power-projects-the-first-of-their-kind-in-vietnam","status":"publish","type":"post","link":"https:\/\/ykvn-law.com\/vi\/ykvn-advised-petrovietnam-power-corporation-on-both-international-and-local-financing-for-the-nhon-trach-3-and-nhon-trach-4-lng-to-power-projects-the-first-of-their-kind-in-vietnam\/","title":{"rendered":"YKVN advised PetroVietnam Power Corporation on both international and local financing for the Nhon Trach 3 and Nhon Trach 4 LNG-to-power projects, the first of their kind in Vietnam"},"content":{"rendered":"<div class=\"wpb-content-wrapper\">[vc_row][vc_column][vc_column_text css=&#8221;.vc_custom_1729497520512{margin-bottom: 0px !important;}&#8221;]\n<h1>YKVN advised PetroVietnam Power Corporation on both international and local financing for the Nhon Trach 3 and Nhon Trach 4 LNG-to-power projects, the first of their kind in Vietnam<\/h1>\n[\/vc_column_text][vc_single_image image=&#8221;13696&#8243; img_size=&#8221;full&#8221;][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text css=&#8221;.vc_custom_1727765751441{margin-bottom: 0px !important;}&#8221;]As lead counsel, YKVN, alongside Pinsent Masons, represented PetroVietnam Power Corporation (PV Power) in securing up to US$ 521.5 million in tied ECA loans for the Nhon Trach 3 and 4 projects.\u00a0 These power plants have a combined capacity of approximately 1,500 MW and a total investment capital of around US$ 1.4 billion, positioning them as the most advanced LNG-to-power projects in Vietnam.\u00a0 The financing structure includes corporate loans consisting of an untied ECA facility, tied ECA facilities, and a local facility.<\/p>\n<p>In addition to the tied ECA loans, PV Power also secured a local loan of approximately VND 4,000 billion and a bridge loan of US$ 300 million. YKVN provided advice on these financings as well.<\/p>\n<p>The tied ECA financing agreements were signed earlier in September 2024 in Hanoi, marking the largest financing from tied ECA lenders in Vietnam&#8217;s power sector in the past four years.<\/p>\n<p>This landmark transaction sets a precedent for future LNG-to-power projects, with the successful financing being particularly notable as these large-scale projects are the first to proceed without a government guarantee.<\/p>\n<p>\u201cThis transaction reflects a new trend toward \u2018hybrid corporate finance\u2019 for large-scale projects, as traditional project finance becomes more challenging. \u00a0Hybrid corporate finance, unlike the typical corporate finance for smaller investments, increasingly mirrors project finance with strict ESG requirements, secured revenue streams, financial covenants, and more,\u201d said Duong Thu Ha, YKVN\u2019s Partner.<\/p>\n<p>The YKVN team was led by Managing Partner <a href=\"https:\/\/ykvn-law.com\/lawyers\/truong-nhat-quang\/\">Truong Nhat Quang<\/a>\u00a0and Partner <a href=\"https:\/\/ykvn-law.com\/lawyers\/duong-thu-ha\/\">Duong Thu Ha<\/a>, with support from Counsel <a href=\"https:\/\/ykvn-law.com\/lawyers\/nguyen-huong-giang\/\">Nguyen Huong Giang<\/a> and Associates Pham Hanh Trang and Pham Linh Chi.<\/p>\n<p>More about the transaction <a href=\"https:\/\/asian-power.com\/news\/pv-power-receives-5215m-loan-vietnams-first-lng-electricity-plants\" target=\"_blank\" rel=\"noopener\">here<\/a>.<\/p>\n<p>Image: \u00a9 PV Power[\/vc_column_text][vc_empty_space height=&#8221;25px&#8221;][vc_separator style=&#8221;double&#8221;][vc_column_text css=&#8221;.vc_custom_1683274619704{margin-bottom: 0px !important;}&#8221;]For more information, please contact YKVN Marketing Team:<\/p>\n<p>T: (+84-28) 3 822 3155<br \/>\n<a href=\"mailto:marketing@ykvn-law.com\">marketing@ykvn-law.com<\/a>[\/vc_column_text][\/vc_column][\/vc_row]\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The YKVN team was led by Managing Partner Truong Nhat Quang and Partner Duong Thu Ha, with support from Counsel Nguyen Huong Giang.<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-13694","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3.1 - 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