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Niti Muangkote

Counsel

Biography

Niti Muangkote is a counsel in Tilleke & Gibbins’ corporate and commercial department, with more than a decade of experience advising domestic and international clients in the energy, infrastructure, mining, real estate, and transportation sectors on project financing, project development, and mergers and acquisitions across Southeast Asia.

A specialist in high-value commercial and financing transactions in the region, Niti regularly advises commercial banks and financial institutions on loan offerings and credit facilities for energy and infrastructure projects, and advises major project developers in obtaining financing from both domestic and international financial institutions. Niti’s banking and finance expertise has earned him recognition as a Rising Star by IFLR 1000 (2024-) and The Legal 500 Asia Pacific (2023-).

Niti holds an LLB from Thammasat University and an LLM from the University of California, Berkeley. He is a barrister-at-law admitted to both the Lawyers Council of Thailand and the Thai Bar Association.

Experience

  • Acted as Thai legal counsel to a syndicate of international lenders, consisting of financial institutions and private investment firms, among other investors, for the provision of AUD 1.14 billion (approx. USD 770 million) financing to a global private equity sponsor in relation to the acquisition of a controlling stake in a global pharmaceutical group.
  • Acted as lead counsel to TMBThanachart PCL in making amendments to a THB 1.5 billion credit facilities agreement for a plastic recycling plant project in Thailand, for the purpose of increasing a working capital facility by THB 120 million, changing the interest rate mechanism (from THBFIX to THOR), and assisting in completing the conditions subsequent (i.e., building mortgage registration).
  • Acted as lead counsel to TMBThanachart Bank, an SET-listed Thai transactional bank, as lender in the up to THB 295 million refinancing of an 8.4 MW solar portfolio in Thailand.
  • Acted for Rojana Power Co., Ltd. as borrower in refinancing a syndicated loan for power projects in Thailand with a collective capacity of 468 MW, with incoming new debt containing up to THB 8 billion in term loan facilities granted by a syndicate of TISCO Bank PCL and The Siam Commercial Bank PCL.
  • Advised a syndicate of leading Thai commercial banks and a regional development bank on financing for a mass rapid transit monorail projects consisting of eastern and northern lines in Bangkok. The work included detailed analysis of a public-private partnership agreement with the Mass Rapid Transit Authority of Thailand, and all supply and construction agreements in relation to the entire civil infrastructure and monorail systems.
  • Advised a Thai energy company with international corporate shareholders on contract negotiations in relation to the development, construction, and multicurrency project financing of a 145 MW gas-fired combined cycle cogeneration power plant project under the Electricity Generating Authority of Thailand’s small power producer (SPP) replacement program.
  • Acted for the selected bidder in tender submission and negotiation of a public-private partnership agreement for investment in the operation and maintenance of new western and northeastern route intercity motorways in Thailand.
  • Advised a project company sponsored by leading public energy and oil and gas companies in relation to approximately THB 7.8 billion in project financing for development of a fuel oil pipeline running between Thailand’s central and northeastern regions, together with a fuel oil terminal with a designed capacity of 142 million liters including ancillary facilities, granted by a syndicate of a leading Thai and Chinese financial institutions.
  • Advised Japanese banks on extending a bilateral term loan facility under a club loan arrangement to a joint venture between a leading Thai building materials public company and a key Vietnamese oil and gas group to finance a petrochemical complex in Vietnam.
ABOUT Niti

Industries

Aviation

Energy

Practices

Banking and Finance

Corporate/M&A

Locations

Languages

    Thai

    English

    Lao

Education

    LLM, University of California, Berkeley

    LLB, Thammasat University

Insights

August 28, 2024
Attorneys from the aviation team in Tilleke & Gibbins’ Bangkok office have contributed the Thailand chapter for Aviation Finance & Leasing 2024 from Chambers and Partners. The guide covers the key legal issues affecting aircraft lessors, lessees, and financiers in 37 jurisdictions worldwide. In addition to the Thailand chapter, Tilleke & Gibbins also provided the Vietnam chapter to Aviation Finance & Leasing 2024. The Thailand chapter provides in-depth details on the country’s legal regime affecting all aspects of aircraft sale and purchase, aircraft and engine leasing, and aircraft debt finance, including sale and lease agreement terms; taxation; lease registration and enforcement; lease assignment/novation; insurance and reinsurance; debt structuring; securities; liens; and many other matters that have implications for day-to-day operations in the aviation industry. Chambers and Partners’ Global Practice Guides provide in-house counsel with expert legal commentary focusing on practical legal issues affecting business, enabling readers to compare legislation and relevant procedures across a range of key jurisdictions. The Thailand chapter of Aviation Finance & Leasing 2024 is available as a PDF through the button below, courtesy of Chambers and Partners. The full guide is accessible for free on the Chambers and Partners website.
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January 11, 2024
Project finance specialists from Tilleke & Gibbins’ Bangkok office have contributed the Thailand chapter to Project Finance 2024 from The Legal 500. The guide, which is part of The Legal 500’s Country Comparative Guides series, furnishes investors and businesses with key information related to project finance in jurisdictions around the world. Each Q&A-style chapter provides in-depth details on the legal regimes affecting a wide range of project financing topics, including: Ownership structures and corporate governance; Security interests, regimes, and enforcement; Regulatory requirements and consents; Foreign exchange considerations; Environmental, social, and governance (ESG) issues; Public-private partnerships; Foreign judgments; Tax considerations; Common funding structures; and Insurance law principles. Tilleke & Gibbins also authored the Vietnam chapter of Project Finance 2024. The Thailand chapter of the guide is available as a PDF through the button below, courtesy of The Legal 500. The full guide is accessible for free on The Legal 500 website.
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December 15, 2023
As part of its membership in Lex Mundi, Tilleke & Gibbins has published an updated edition of its Guide to Doing Business in Thailand for 2023. This guide outlines the key factors for starting and operating a business in the Thai market. Issues covered include: Investment incentives Financial facilities Exchange controls Import and export regulations Structures for doing business Requirements for the Establishment of a Business Operation of the Business Cessation or Termination of the Business Labor legislation, relations, and supply Tax Immigration requirements This publication is part of Lex Mundi’s Country Guides series prepared by member firms in more than 100 jurisdictions worldwide. The guides serve as a useful resource for planning international business strategy and researching new markets. The full Guide to Doing Business in Thailand is available through the button below.
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October 25, 2023
Sale and leaseback structures and pledges of an aircraft are primary tools in Thailand for lenders to secure aircraft financing. However, these prevalent approaches come with certain limitations. Sale and leaseback structures usually require lots of documentation, while the use of pledges requires delivery of the pledged property to the pledgee and the pledged property must always remain in the possession of the pledgee or a third-party custodian as agreed to by the parties, because the pledge will be legally discharged if the pledged property is returned into the possession of the pledgor. Since 2015, there has been another alternative for securing aircraft financing in Thailand. This came with the introduction of the Business Security Act B.E. 2558 (“BSA”). The BSA allows creation of a security interest over movable property (including aircraft) as collateral to secure debt repayment or other obligations without having to deliver the property to the secured party. Therefore, it is now possible for a security interest to be created over an aircraft on a non-possessory basis. To realize this type of security interest, the BSA requires that a business security agreement be made in writing and registered with the Business Security Registration Office. Unless the parties agree otherwise, the security providers still retain the right to transfer or dispose of the secured property. However, the BSA prohibits the security providers from transferring or selling the secured property when there is a cause for enforcement of the secured property and the security receivers have notified the security providers about this cause in writing. According to the BSA, entities that are eligible to be a security holder and take business security as a secured creditor include financial institutions and other persons prescribed in ministerial regulations issued by the Ministry of Commerce or the Ministry of Finance. However,
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Awards & Rankings

September 30, 2024
Tilleke & Gibbins has once again been recognized in the 2024 Asian Legal Business M&A rankings, retaining its Tier 2 position for both Thailand and Vietnam. This marks the 11th consecutive year that the firm has been acknowledged in the publication, reflecting its sustained strength in the M&A market across the region. The magazine’s M&A rankings evaluate firms based on several key metrics, including the volume, complexity, and size of transactions handled, as well as the firm’s presence across Asia. The rankings also take into account key personnel hires and the overall growth of each practice group. The evaluation period for the 2024 edition spanned from August 2023 to July 2024. Tilleke & Gibbins’ representation in the Thailand and Vietnam rankings reflects the firm’s reputation for consistently strong support of corporate transactions across Southeast Asia. Asian Legal Business, owned by Thomson Reuters, is a leading source of information for legal professionals active in the region. To learn more about the M&A rankings, and to browse the full rankings, please see the Asian Legal Business website.
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September 13, 2024
The 2024 edition of the IFLR1000 Asia-Pacific rankings, released by International Financial Law Review (IFLR), highlights Tilleke & Gibbins’ continued excellence in financial and corporate transactional work. The firm has retained its strong rankings across multiple jurisdictions and practice areas, reaffirming its position as a leading firm in the Asia-Pacific region. This year, Tilleke & Gibbins received firmwide rankings in key jurisdictions, including: Thailand Banking & Finance – Tier 3 Capital Markets: Debt – Tier 3 Capital Markets: Equity – Tier 3 M&A – Tier 2 Project Development – Tier 2 Restructuring & Insolvency – Tier 3 Vietnam Banking & Finance – Other Notable M&A – Tier 3 Project Development – Tier 3 Cambodia Financial & Corporate – Tier 2 Project Development – Tier 2 Laos Financial & Corporate – Tier 2 In addition to these firmwide rankings, Tilleke & Gibbins had several standout individual recognitions, with 10 lawyers honored in the 2024 individual rankings, including new entries for John Frangos, Niti Muangkote, Santhapat Periera, and Tram Ngoc Bich Nguyen. The full list is as follows: Charunun Sathitsuksomboon – Highly Regarded, M&A, Thailand Charuwan Charoonchitsathian – Rising Star, M&A, Thailand David Mol – Rising Star, Corporate and M&A, Cambodia Jay Cohen – Highly Regarded, Banking, Cambodia John Frangos – Notable Practitioner, Restructuring & Insolvency, Thailand (new ranking) Niti Muangkote – Rising Star, Financial & Corporate, Laos; Highly Regarded, Banking & Finance, Thailand (new ranking) Saithong Rattana – Notable Practitioner, Project Development and M&A, Laos Santhapat Periera – Highly Regarded, Banking, M&A, Laos; Highly Regarded, Banking & Finance, Thailand (new ranking) Supasit Boonsanong – Highly Regarded, Project Development, Thailand Tram Ngoc Bich Nguyen – Highly Regarded, M&A, Vietnam (new ranking) To see the full set of IFLR1000 rankings for Tilleke & Gibbins’ jurisdictions, please see the Cambodia, Laos, Thailand, and
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September 12, 2024
Tilleke & Gibbins has once again secured impressive rankings in the recently released Asialaw 2024 rankings. The firm has maintained its position as a top legal service provider across multiple jurisdictions, earning a total of 39 rankings in practice and industry groups, 19 of which are in the highest tiers. The firm’s performance continues to reflect its exceptional client service and legal expertise across Southeast Asia. Tilleke & Gibbins is recognized in all available categories for Cambodia, Laos, and Thailand, demonstrating the firm’s strong presence across the region. In the individual rankings, 22 of the firm’s practitioners have been recognized, including three notable promotions and three new entries: Charunun Sathitsuksomboon (Thailand), newly ranked as a Notable Practitioner for Corporate and M&A. Linh Thi Mai Nguyen (Vietnam), promoted to Distinguished Practitioner for Intellectual Property. Loc Xuan Le (Vietnam), promoted to Elite Practitioner for Intellectual Property. Niti Muangkote (Laos), a new entry as a Rising Star for Banking and Finance. Prisna Sungwanna (Laos), newly ranked as a Distinguished Practitioner for Corporate and M&A and Banking & Finance. Suebsiri Taweepon (Thailand), promoted to Distinguished Practitioner for Intellectual Property and Technology and Telecommunications. Client feedback remains a key component of the Asialaw rankings, with Tilleke & Gibbins earning high praise for its responsiveness and commercial awareness. The firm’s sector-specific knowledge also continues to stand out, with clients expressing their appreciation of the firm’s understanding of their businesses’ operational contexts. For more details and to browse the full rankings, please visit the Asialaw website.
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July 25, 2024
Tilleke & Gibbins has been recognized as one of the leading international law firms for Chinese companies in the energy and natural resources sector at the China Business Law Awards 2024 from China Business Law Journal. The accolade highlights the firm’s position in this increasingly competitive industry and its commitment to providing top-tier legal services to Chinese energy companies active in Thailand. To determine the winners in each category, extensive research and evaluations were carried out to identify the top-performing firms. The journal’s in-house researchers reviewed law firm submissions, industry feedback, and endorsements from clients and industry professionals in narrowing the list of outstanding firms in various industry categories. The China Business Law Journal is a prestigious publication that recognizes and celebrates excellence in the legal industry in China. This award is a strong affirmation of Tilleke & Gibbins’ energy practice as a trusted advisor for Chinese companies active in the energy sector. To read more about the awards and browse a complete list of the China Business Law Awards 2024 winners, please visit the China Business Law Journal website.
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