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First Social Bond Issued by Nonfinancial Corporate Issuer Under ASEAN Social Bond Standards.

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ENPNewswire-November 18, 2021--First Social Bond Issued by Nonfinancial Corporate Issuer Under ASEAN Social Bond Standards

(C)2021 ENPublishing - http://www.enpublishing.co.uk

Release date- 17112021 - Thailand's Thaifoods Group, with assistance from the Asian Development Bank (ADB) and the Credit Guarantee and Investment Facility (CGIF), launched the first social bond issued by a nonfinancial corporate issuer under the Association of Southeast Asian Nations (ASEAN) social bond standards.

Totaling 1 billion Thai baht ($30.5 million) and with a maturity of 5 years, the bond was issued on 11 November under the ASEAN+3 Multicurrency Bond Issuance Framework, which facilitates cross-border issuance of debt securities in participating markets. The CGIF, a trust fund of ADB, guaranteed 100% of the bond, which was sold to leading Thai institutional investors.

Thaifoods Group will use the proceeds from the bond to lend money to subsidiaries, for the purpose of financing and refinancing projects and assets associated with job creation and economic advancement in local communities. ADB is assisting the company with identifying eligible assets, projects, and expenditures, developing a sustainable finance framework, and facilitating discussions with an external reviewer.

'This transaction will serve as a good case study of how private companies can help promote social sustainability,' said ADB Financial Sector Specialist Kosintr Puongsophol. 'We hope it will help demonstrate that the private sector can play a critical role in ensuring that the recovery from the COVID-19 pandemic is inclusive, and that...

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