OCBC, UOB help fund US$40.2m loan in Myanmar

Singapore

OCBC and UOB were on Tuesday among four foreign banks in Myanmar to fund a syndicated loan facility valued at up to US$40.2 million - said to be among the largest syndicated loans by onshore foreign lenders since the wave of liberalisation in 2015 allowing foreign banks to participate in this frontier market in Asean.

The financing went to Malaysia's telecommunications network player OCK Group, with its unit in Myanmar constructing 920 telecommunications towers in Myanmar. This is the group's first project in Myanmar. The four banks were: OCBC, Maybank, UOB, and Bangkok Bank.