Linklaters advises EDL-Generation on US$300m high yield notes issuance

Linklaters has advised EDL-Generation Public Company as issuer on its US$300m 11.125% notes due 2031. The notes were issued under Rule 144A and Regulation S and listed on the Singapore Exchange Securities Trading Limited (SGX-ST).
EDL-Generation is a majority state-owned power generation company in Laos and the power generation arm of Électricité du Laos, Laos’ wholly state-owned integrated utility. The company is listed on the Lao Securities Exchange.
The transaction is a rare high yield issuance from Lao PDR and provides EDL-Generation with access to the international US dollar bond market.
The Linklaters team was led by partner and Head of South and Southeast Asia capital markets Amit Singh and capital markets partner Xunming Lim, with support from Alex Cui and Anushri Maskara.
Amit Singh, Head of South and Southeast Asia Capital Markets commented:

“We congratulate EDL-Generation on this successful issuance, which reflects continued international investor engagement with issuers from Lao PDR, following the sovereign’s return to the international capital markets in 2025, and comes as the country’s renewables and hydropower sector gains momentum, supported by its strong natural resource base and growing role in regional energy supply.”

With one of the largest teams focused on Southeast Asia, Linklaters has an established track record advising on complex cross-border debt capital markets transactions across the region. The transaction builds on the firm’s recent experience advising on Lao PDR’s US$300m Rule 144A and Regulation S sovereign bond issuance in 2025.