Ooredoo Myanmar $300 million telecoms development finance facility

Overview:

• A Myanmar-based telecommunications provider Ooredoo Myanmar has received a total of $300 million in development finance to build telecom services in the country.
• The loan was provided jointly by the Asian Development Bank (ADB) and the International Finance Corporation (IFC), which each invested $150 million into the fund. 
• Only seven out of every 100 people of the 53 million population had access to mobile phone coverage in 2013.
• The fund will support infrastructure related to the full range of fixed, mobile and data services across Myanmar.
• Mayer Brown JSM team acted for the lenders with Benjamin Thompson leading alongside senior associate Rohan Bilimoria.