Norton Rose in Myanmar leveraged buyout

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Norton Rose Fulbright has advised DBS Bank, ING Bank and Oversea-Chinese Banking Corporation Limited (OCBC) as mandated lead arrangers in connection with the leveraged buyout by global private equity firm TPG of Pan Asia Majestic Eagle Limited (PAMEL), one of the largest telecom tower companies in Myanmar.

The deal was the first leveraged buyout in Myanmar, and the transaction involved a range of security, structural and regulatory issues, including those that arose due to the change in the Myanmar Companies Act, which came into force during the transaction, the firm said. Norton Rose partner and head of Singapore, Ong Yu-en, and of counsel, Fong Lishi, led the team advising the lenders, which also included corporate finance partner Craig Loveless, technology of counsel David Olds and finance associate Kai Ye-ang.