Hunton Andrews Kurth Advises International Finance Corporation On $400 Million Investment in Dual Green and Blue Bonds Issued by Thailand’s Bank of Ayudhya

The Bangkok office of Hunton Andrews Kurth LLP assisted the International Finance Corporation (IFC) with its investment in $400 million (USD) of green and blue bonds issued by Bank of Ayudhya (BAY), Thailand’s fifth-largest bank.

The bond proceeds will be used by BAY for the purposes of making sub-loans to eligible sub-borrowers to finance: i) sustainable marine resource conservation (blue) projects which meet the IFC Guidelines for Blue Finance, such as providing clean water, fisheries and aquaculture, and ii) environmental conservation (green) projects, such as electric retail vehicles, that are in line with IFC’s Definitions and Metrics for Climate-Related Activities and are in accordance with the Green Bond Principles (GBP) 2021, as administered by the International Capital Market Association.

BAY’s allocation of the total bond proceeds is subject to a requirement that at least $50 million is dedicated to blue projects.

The Hunton Andrews Kurth team included Bangkok partner Stephen Bennett and senior associate Tanagorn Thimasarn with London partner Ferdinand Calice advising on English law matters.