Shearman & Sterling represented ABN AMRO Bank N.V. and UBS Limited as joint lead managers and bookrunners in a $350 million Regulation S offering of notes by Thai Oil Public Company Limited. The 5.10% notes due 2015 are listed on the Singapore Exchange.

In a separate transaction, Shearman & Sterling's project finance lawyers also advised ABN AMRO Bank N.V. as arranger in connection with a $200 million syndicated revolving credit facility to Thai Oil. The loan is being used by the borrower to refinance its existing debt.

Thai Oil is the leading independent petroleum refiner and supplier of refined petroleum products in Thailand. It currently owns and operates the largest single-site refinery in Thailand and one of the most complex refineries in the Asia-Pacific region. These transactions follow Shearman & Sterling's representation of the underwriters in Thai Oil's global share offering in 2004, which is the largest initial public offering in Thailand to date and also the largest initial public offering in Southeast Asia since 2002.