The Asian Lawyer held the second annual Asia Legal Awards on 3 March 2015 at the J.W. Marriott in Hong Kong, honoring the region’s top law firms and their achievements over the past 12 months.
DFDL has won the Finance Deal of the Year in the category “Banking” for the PAMEL non-recourse financing project, together with Milbank, Tweed, Hadley & McCloy; Norton Rose Fulbright and VDB Loi.
Pan Asia Majestic Eagle Ltd. (PAMEL) was established in 2013 in Yangon as an independent provider of telecommunications infrastructure. For the non-recourse financing project to construct more than 1,250 towers for Ooredoo Myanmar PAMEL received USD 85 million through a loan from five banks including Standard Chartered Bank and Sumitomo Mitsui Banking. When awarded the telecommunication license in 2013, Ooredoo made provisions to develop 3G mobile communications services across the country.
The project is regarded as the first ever, non-recourse, cross border financing in Myanmar, paving the way for the expansion of commercial bank financing into the country.
Please click here to view the other winners in other categories.