DFDL Assists Yoma Strategic On Raising USD 70 million through the Issuing of Thai Bonds

DFDL Myanmar is acting as local counsel to Credit Guarantee and Investment Facility, a trust fund of the Asian Development Bank (CGIF), which is acting as guarantor to the holders of Thai Baht bonds issued on 25 January by Yoma Strategic Holdings Ltd. (YSH), a company listed on the Singapore stock exchange with a focus on investment in Myanmar across a range of sectors. The proceeds of the bonds are to be used partly for investment by YSH in some of its Myanmar affiliates which are a playing a key part in the transaction.

This bond issue of the total Baht equivalent of US$70 million is being rated AAA by an S&P affiliate, and is the first such issue by a Myanmar-focused company on any international bond market. The DFDL Myanmar team consisted of William Greenlee (Partner & Managing Director) Nishant Choudhary (Deputy Managing Director and Head of Banking and Finance Practice Group, Myanmar) and Nick Towle (Regional Senior Adviser), supported by other advisors. DFDL has worked on several ground-breaking finance transactions in or related to Myanmar since 2012 and we are pleased to continue to lead the market in Myanmar in advising financial institutions including IFC, ADB, Norfund, OPIC, China Export-Import Bank and other global commercial banks in their Myanmar–related investments.

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