Simmons & Simmons has advised Credit Guarantee & Investment Facility (CGIF), a trust fund of Asia Development Bank, as guarantor of up to Rp 300bn ($25m) bond issued by PT BCA Finance, an automotive financing unit of Bank Central Asia. GCIF is a supranational entity based in the Philippines.

CGIF was established by ASEAN, People’s Republic of China, Japan and the Republic of Korea, to help develop Asian bond markets and whose mandate is to guarantee issuances by companies in this region.

The Simmons & Simmons team was led by Hong Kong Finance partners Jay Lee and Joel Bentsur, with assistance from associates in our Hong Kong and Singapore offices including Linda Vong, Karen Yeung and Rina Lee.

Commenting on the transaction, Jay Lee said: “We are pleased to have advised on this successful high-profile bond transaction, which I think played to the strengths of our diversified debt capital markets’ practice capabilities, including our expertise with issuances from countries in South East Asia”.