Sidley Advises on EDL-Gen’s Debut International USD Bond Offering – the First by a Lao Corporate Issuer

Sidley represented J.P. Morgan as international counsel on English and U.S. federal securities law matters in connection with EDL-Generation Public Company’s (EDL-Gen) landmark debut U.S. dollar denominated international bond offering, marking the first such issuance by a Lao corporate issuer.

The transaction comprised US$300 million aggregate principal amount of 11.125% senior notes due 2031, offered pursuant to Rule 144A and Regulation S under the U.S. Securities Act.

EDL-Gen is the primary power generation subsidiary of Électricité du Laos, the national electricity utility of the Lao PDR, and one of the country’s leading renewable power platforms. Électricité du Laos is wholly owned by the Ministry of Finance.

The Sidley team was led by Alexius Chong and Alan G. Grinceri, and included David Howe, Prabhat Mehta, Joel Lam, and trainee solicitor Taran Narula (Capital Markets); Robert M. Kreitman, Steve Quinn, and Alvin Wang (Tax).

Sidley is a leading adviser on debt offerings across Asia Pacific. The firm’s Debt Capital Markets practice is recognized for advising on many of the region’s most significant and innovative transactions and has received consistent recognition from Chambers Asia Pacific, IFLR, Debtwire, Legal 500 Asia Pacific, FinanceAsia, and The Asset. Sidley was also named “Securities Firm of the Year” at Law.com International’s Asia Legal Awards 2024.