A&O Shearman advises a range of international and domestic banks, credit providers, and corporates on the full spectrum of capital market deals, including cross-border IPO’s, block trades, debt capital market offerings, and hybrid convertible loans. The practice is led by DCM expert Duc Tran, who advises high-profile clients on bond issuances and landmark equity offerings. Tina LeDinh is also a key contact, bringing a wealth of experience advising issuers and underwriters on Vietnamese equity and debt capital markets. Hai Nguyen, who joined the firm from YKVN, in July 2025, further strengthens the firm’s capital markets capabilities.
Capital markets in Vietnam
A&O Shearman
Praxisleiter:
Duc Tran
Weitere Kernanwälte:
Tina LeDinh
Highlight-Mandate
VILAF
VILAF advises domestic and international issuers, underwriters, and arrangers on a range of capital market transactions. The team has advised extensively on corporate bonds, inaugural bond issuances, transaction structuring, and equity capital market products such as derivatives and ETFs. The practice is jointly led by Duyen Ha Vo, based in Ho Chi Minh City, and Phong Tran, based in Hanoi, who are both active in the capital market space. Other key contacts include Hung Nguyen, who frequently advises on corporate bonds, and Anh Dang, who is experienced in international IPOs.
Praxisleiter:
Duyen Ha Vo; Phong Tran
Weitere Kernanwälte:
Hung Nguyen, Anh Dang
Referenzen
‚Anh Bui has a deep understanding of capital market transactions and the regulatory process.‘
‚The team has shown its capability to deal with complicated matters of Vietnamese laws and provide practical solutions for clients.‘
Kernmandanten
Vinpearl JSC
Nam Long Group Corporation
ANT Group
BIWASE Long An Water JSC
Highlight-Mandate
- Advised Vinpearl JSC in the issuance of US$250 million exchangeable bonds
YKVN
YKVN is highly sought after by international clients for its extensive expertise in navigating Vietnam’s evolving regulatory landscape, frequently advising on complex debt and equity transactions. The firm is particularly adept at advising on green and social bond issuances, bond transactions and restructuring, as well as high-profile strategic exits. The practice is led by banking and finance expert Truong Nhat Quang, and benefits from a strong bench, including Hanoi-based Duong Thu Ha, who frequently leads on high-profile equity and debt matters, as well as Vu Dzung and Nguyen Thu Hang, who are renowned capital market specialists. Hai Nguyen departed the firm in July 2025.
Praxisleiter:
Truong Nhat Quang
Weitere Kernanwälte:
Duong Thu Ha; Vu Dzung; Nguyen Thu Hang
Kernmandanten
Joint Stock Commercial Bank for Foreign Trade of Vietnam
Vietnam Joint Stock Commercial Bank for Industry and Trade
Bank for Investment and Development of Vietnam
Vietnam Prosperity Joint-Stock Commercial Bank
Military Commercial Joint Stock Bank
Deutsche Bank
Citibank
Standard Chartered Bank
UBS
Commonwealth Bank of Australia
JCB International Co., Ltd.
Kasikornbank PCL
Mizuho Bank, Ltd.
PetroVietnam Power Corporation
Vingroup
Masan Group
T&H Ha Long Joint Stock Company
A&A Green Phoenix Group Joint Stock Company
HSBC
Ho Chi Minh City Development Joint Stock Commercial Bank
Highlight-Mandate
- Advised No Va Land Group as issuer on the US$300 million cross-border restructuring of its international bonds.
- Advised Masan Group on its landmark issuance of Convertible Dividend Preference Shares to Bain Capital.
- Advised Phenikaa on its first Sustainable Fitch-rated VND 520 billion social bonds
Allens
Allens regularly acts for sellers, sponsors, issuers, and lead managers on debt capital markets transactions, including the issuance of bonds, derivatives, and hybrid instruments, as well as equity matters such as private placements, large-scale secondary share sales, and the issuance and sale of hybrid equity instruments. The firm is particularly sought after to guide clients through the complexities of raising finance via debt instruments, ensuring compliance with relevant regulations. Linh Bui leads the team from Ho Chi Minh City, advising international and Vietnamese companies on high-profile capital market transactions, alongside Ngoc Anh Tran. Dang Vu is also a key contact for domestic and international bond matters.
Praxisleiter:
Linh Bui; Ngoc Anh Tran
Weitere Kernanwälte:
Dang Vu
Referenzen
‚Linh Bui commercially understands what is required, is well-versed in the market, and understands the practical risks and considerations, based on experience.‘
‚Solid knowledge and appropriately managed.‘
Kernmandanten
Deutsche Bank AG
HSBC
BNPP
JPMorgan
KISA
Mizuho
Morgan Stanley
International Finance Corporation
GuarantCo
Seller and Placing Agents
Credit Suisse
Vietnam Sunergy Joint Stock Company
SK Group
Commonwealth Bank of Australia
AXA SA
Jardine Cycle & Carriage Limited
Affirma Capital
Highlight-Mandate
- Acted as the Vietnamese law counsel for the Deutsche Bank AG, HSBC, BNPP, JPMorgan, KISA, Mizuho, Morgan Stanley as Initial Purchasers in the international issuance of up to US$500 million worth of bonds by Vinhomes.
- Acted as the Vietnamese law counsel for HSBC, Deutsche Bank AG and Daiwa Capital as the Joint Lead Managers in the international issuance of US$150 million worth of exchangeable bonds by Vinpearl.
- Acted as both the transactional and Vietnamese law counsel for IFC and AIIB in their subscription of a blue and a green bond to be issued by SeABank.
Baker McKenzie
Baker McKenzie advises clients on a wide range of debt and equity matters, including corporate bonds, structured financing transactions, acquisition financing, and structured lending solutions. The firm also demonstrates a deep understanding of the evolving regulatory landscape and has acted on landmark blue bond and green bond issuances. The practice is led from Ho Chi Minh City by Oanh Hoang Kim Nguyen, who is adept at leading high-profile equity and debt capital market matters, including IPO deals. Ngo Thai Ninh and Phuong Chi Vo, both based in Hanoi, are also key contacts, with expertise in foreign exchange transactions, swaps, and derivatives.
Praxisleiter:
Oanh Nguyen
Weitere Kernanwälte:
Phuong Chi Vo; Ngo Thai Ninh
Referenzen
‚Practical, knowledgeable and full of market insights. They are also enthusiastic and responsive, and always capable of providing practical problem-solving advice.‘
‚Vo Ngoc Phuong Chi has demonstrated strong industry knowledge, a practical and commercial mind and problem-solving oriented thinking.‘
Kernmandanten
Bangkok Bank Public Company Limited
Capitaland
Maybank
Singapore Exchange Limited
Southeast Asia Commercial Joint Stock Bank
Highlight-Mandate
- Advising Southeast Asia Commercial Joint Stock Bank on Vietnam’s first blue bond issuance to support sustainable ocean and water-related economic activities.
- Advising Singapore Exchange Limited on its existing securities regulations, providing guidance on the regulatory framework for secondary listings and depository receipts.
- Representing the lenders, in collaboration with PT Bank Permata Tbk as security agent, in extending syndicated loan facilities to PT Cemindo Gemilang Tbk.
Frasers Law Company
Frasers Law Company advises international financial institutions, investment funds, and corporate issuers on Vietnam-related capital markets transactions, spanning both equity and debt offerings. The firm is particularly adept at handling regulatory compliance, disclosure obligations, and transactional structuring, and also assists clients with structured products, convertible instruments, and warrants. Leading the practice is Mark Fraser, who brings a wealth of capital markets experience, while Ho Thuy Ngoc Tram is a key contact for convertible and exchangeable bonds, private placements, and listing compliance.
Praxisleiter:
Mark Fraser
Weitere Kernanwälte:
Ho Thuy Ngoc Tram
Referenzen
‘The team is highly experienced and knowledgeable in the field of foreign investment in Vietnam and is able to provide constructive and practical advice in an efficient manner, which is crucial for our business decisions.’
‘The team gives commercial legal advice promptly.‘
‘Ms. Tram has proved her diligence and excellent customer orientation in provision of the legal consulting. ’
Kernmandanten
Credit Guarantee and Investment Facility
SmartPay
Hoi An South Development Ltd
Highlight-Mandate
- Advised SmartPay on its Series B fundraising round, supporting the structuring and execution of the capital raise under Vietnamese law.
- Acted as Vietnamese legal counsel to Credit Guarantee and Investment Facility, a trust fund of a regional development bank, in connection with the issuance of bonds by one of Vietnam’s largest commercial banks.