YKVN advised Phenikaa on its first Sustainable Fitch-rated VND 520 billion social bonds 

YKVN acted as sole counsel to A&A Green Phoenix Group Joint Stock Company (Phenikaa) on its VND 520 billion issuance of dual-tranche sustainability-linked bonds.  

Sustainable Fitch, in its second-party opinion, considers Phenikaa’s Sustainable Finance Framework  transaction “to be fully aligned with the ICMA Green and Social Bond Principles and Sustainability Bond Guidelines, and the Loan Market Association, Loan Syndications and Trading Association and Asia Pacific Loan Market Association Green and Social Loan Principles.” More about the second-party opinion here. 

Phenikaa is also among the very first bond issuers in Vietnam to apply a credit rating to its bond issuance. Evaluated by VIS Ratings, Phenikaa received an initial long-term rating of “A” (stable). More about Phenikaa’s credit rating here. 

Partner Nguyen Van Hai led the YKVN team, with the support of Senior Associate Le Huynh Nhat Minh and Associate Duong Phuong Thanh. The team also advised Phenikaa on its VND 900 billion bond issuance guaranteed by CGIF in January 2024. 

Image: © Phenikaa

For more information, please contact YKVN Marketing Team:

T: (+84-28) 3 822 3155
marketing@ykvn-law.com