Allen & Overy advises on $5bn refinancing of NSRP project in Vietnam

Allen & Overy is advising the export credit agencies and commercial lenders on the $5bn financing of the Nghi Son Refinery and Petrochemical (NSRP) project in Vietnam. Total project costs are in excess of $9bn.

Key facility providers include Japan Bank for International Co-operation, the Export-Import Bank of Korea (KEXIM), Nippon Export and Investment Insurance (NEXI), the Bank of Tokyo-Mitsubishi UFJ and 24 commercial lenders covered by guarantees or insurance from KEXIM and NEXI.

Located in Thanh Hoa Province, 200km south of Hanoi, construction of the refinery and associated infrastructure is scheduled to commence in July 2013, with the refinery expected to start commercial operations in 2017.

The Allen & Overy team was led by partners Aled Davies, Simon Black and Matthias Voss. The law firm also advised on the Vietnamese law aspects through the head of the firm’s Hanoi office, Duc Tran.

In total, 19 Allen & Overy lawyers across five offices advised on the deal, including associates Hans Menski, Scott Lovell, Sophie Chamberlin, Jae Ahn, Kazuko Ali, Michael Evry, Tina LeDinh, Phuong Tran, Thuy Huynh and Phong Le.