About the Erajaya Issuance

The Credit Guarantee and Investment Facility (“CGIF”), a trust fund of the Asian Development Bank (“ADB”), is pleased to announce its guarantee for Erajaya Digital Pte. Ltd.’s (“Erajaya Digital” or “Issuer”) 3-year SGD50.0 million Senior Unsecured Fixed Rate Notes (“Bond”). Erajaya Digital is a subsidiary of Indonesia-domiciled PT Erajaya Swasembada Tbk (“Group”) which conducts the Group’s businesses in Malaysia and Singapore.

Established in 1996, the Group is a leading omni-channel retailer and distributor of mobile phones and telecommunication products in ASEAN, and operator of retail outlets in active lifestyle, beauty and wellness, and food and nourishment. Its retail network in Indonesia, Malaysia, and Singapore comprised 1,689 stores as of end 2022.

This is the Group’s debut bond issuance, issued under the ASEAN+3 Multi-Currency Bond Issuance Framework (“AMBIF”). With CGIF’s AA-rated guarantee, Erajaya Digital was able to diversify its funding sources and tap long-term inter-ASEAN liquidity to supplement its crossborder capital investments. DBS and Morgan Stanley acted as the Joint Lead Managers.