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AM",{"iso":13,"human":304,"formatted":422},{"version":428,"generated_at":429},"1.0","2026-04-14T03:52:17.790713Z",{"data":431,"meta":551},{"id":432,"parent_id":6,"title":50,"slug":433,"full_slug":433,"meta_title":6,"meta_description":6,"meta_keywords":434,"status":11,"sort_order":435,"template_id":6,"published_at":436,"created_at":437,"updated_at":15,"parent":6,"children":438,"active_sections":439,"has_children":298,"has_sections":285,"is_published":285,"is_draft":298,"is_archived":298,"seo":539,"hierarchy":542,"timestamps":545},27,"faqs",[],14,"2025-09-24T07:59:15.000000Z","2025-09-24T07:42:24.000000Z",[],[440],{"id":441,"page_id":432,"section_type":442,"section_name":443,"sort_order":12,"data":444,"template_id":6,"is_active":285,"created_at":520,"updated_at":521,"section_config":6,"display_name":443,"has_data":285,"data_keys":522,"status":529,"validation":530,"timestamps":533},595,"card-faq-list","FAQ",{"color_background":445,"layout":446,"subtitle":447,"title":448,"description":6,"button_text":6,"button_link":6,"tab_list":449},"white-blue","whole","Your Questions Answered","CGIF Frequently Asked Questions",[450,493],{"tab_name":116,"faq_list":451},[452,455,458,461,464,466,469,472,475,478,481,484,487,490],{"title":453,"description":454},"How will a CGIF guarantee impact our bond’s credit rating?","\u003Cp>CGIF’s guarantee can substantially improve a bond’s credit rating, making the bonds more attractive to investors and potentially resulting in a lower coupon rate.\u003C/p>",{"title":456,"description":457},"What kind of reporting and covenants would be required if we receive a guarantee?","\u003Cp>The terms and covenants agreed between the issuer and CGIF and compliance with CGIF’s Environmental and Social Safeguards Policy requirements.\u003C/p>",{"title":459,"description":460},"Are there any specific requirements and reporting related to environmental and social safeguards that we need to comply with?","\u003Cp>Yes, the issuer would need to comply with CGIF’s Environmental and Social Safeguards Policy. The use of proceeds should not contravene ADB’s policy on prohibited investments as set out in their prohibited investment activities list.\u003C/p>",{"title":462,"description":463},"Can CGIF guarantee bonds issued by state-owned enterprises?","\u003Cp>Yes\u003C/p>",{"title":465,"description":463},"Can CGIF guarantee sukuk bonds?",{"title":467,"description":468},"What level of guarantee can CGIF provide to an issuer?","\u003Cp>CGIF offers irrevocable and unconditional guarantees for principal and interest for up to 15-year tenors, up to USD 230 million (in local currency equivalent within ASEAN+3), exclusively for debt capital market instruments such as bonds, asset-backed securities, corporate notes, and medium term notes.\u003C/p>",{"title":470,"description":471},"What are the key benefits of a CGIF guarantee?","\u003Cp style=\"margin-left:0.0px;\">The key advantages are:\u003C/p>\u003Cul>\u003Cli>\u003Cp style=\"margin-left:0.0px;\">Accessing a new funding avenue in the capital markets\u003C/p>\u003C/li>\u003Cli>\u003Cp style=\"margin-left:0.0px;\">Broadening investor base\u003C/p>\u003C/li>\u003Cli>\u003Cp style=\"margin-left:0.0px;\">Extending debt tenors, better aligning long-term liabilities with assets\u003C/p>\u003C/li>\u003Cli>\u003Cp style=\"margin-left:0.0px;\">Obtaining fixed-rate financing in local currency\u003C/p>\u003C/li>\u003Cli>\u003Cp style=\"margin-left:0.0px;\">Increasing visibility in the debt capital markets\u003C/p>\u003C/li>\u003Cli>\u003Cp style=\"margin-left:0.0px;\">Reaching investors across borders or in new local markets\u003C/p>\u003C/li>\u003Cli>\u003Cp style=\"margin-left:0.0px;\">Preserving existing credit limits\u003C/p>\u003C/li>\u003C/ul>",{"title":473,"description":474},"Can the use of proceeds be used for refinancing?","\u003Cp>Yes, as long as it is for refinancing other debt and not CGIF-guaranteed bonds\u003C/p>",{"title":476,"description":477},"Does CGIF provide any technical support for green, social, or sustainability linked bonds? Or does CGIF provide any subsidy if the bond is issued under a thematic bond?","\u003Cp>No, but CGIF can provide support in finding grants from third parties.\u003C/p>",{"title":479,"description":480},"What key agreements are entered into in relation to the CGIF guarantee?","\u003Cp style=\"margin-left:0.0px;\">Three main agreements are involved:\u003C/p>\u003Col style=\"list-style-type:decimal;\">\u003Cli>A Guarantee Agreement between CGIF and bondholders’ Representative/Trustee governed by English law setting out terms of the CGIF guarantee.\u003C/li>\u003Cli>A Reimbursement and Indemnity Agreement (RIA) between the issuer and CGIF, governed by English law, which allows CGIF to reclaim from the issuer any guarantee payments made to the bondholders pursuant to the Guarantee Agreement.\u003C/li>\u003Cli>A Guarantee Fee Letter between the issuer and CGIF, governed by English law, which outlines the terms of guarantee fee payment to CGIF.\u003Cbr>• Documentation related to bond issuance will be required.\u003Cbr>• Collateral agreements as agreed between the issuer and CGIF may also be required.\u003C/li>\u003C/ol>",{"title":482,"description":483},"What are CGIF’s key eligibility criteria for a corporate bond guarantee?","\u003Cp style=\"margin-left:0.0px;\">Prospective issuers must be ultimately owned or controlled by ASEAN+3 nationals and must be operating in this region. If the issuer is not owned or controlled by nationals or companies from the region, the bond proceeds must be used for ‘Eligible Developmental Purposes’ such as infrastructure, thematic issuances or for issuances in frontier markets.\u003C/p>\u003Cp style=\"margin-left:0.0px;\"> \u003C/p>\u003Cp style=\"margin-left:0.0px;\">\u003Cstrong>CGIF’s preliminary criteria include:\u003C/strong>\u003C/p>\u003Col style=\"list-style-type:decimal;\">\u003Cli>Creditworthiness of the issuer and its ability to meet CGIF’s minimum internal rating;\u003C/li>\u003Cli>Proceeds of bond issuance are not used for any activities listed in ADB’s prohibited investment activities list*;\u003C/li>\u003Cli>No material environmental, social and integrity risk issues; and\u003C/li>\u003Cli>Deal supports development of the ASEAN+3 local currency bond market.\u003C/li>\u003C/ol>\u003Cp> \u003C/p>\u003Cp>*Available on\u003Cspan style=\"color:hsl(48,97%,48%);\"> \u003C/span>\u003Ca href=\"/issuers/issuer-pathway/pial\">\u003Cspan style=\"color:hsl(48,97%,48%);\">https://www.cgif-abmi.org/issuers/issuer-pathway/pial\u003C/span>\u003C/a>\u003C/p>",{"title":485,"description":486},"How is a deal transaction evaluated and approved by CGIF?","\u003Cp>All deals guaranteed by CGIF undergo a risk assessment and structuring process. This involves several stages from eligibility check, concept approval, due diligence, underwriting approval and bring-down due diligence, each assessing and confirming eligibility of the prospective issuer.\u003C/p>",{"title":488,"description":489},"How long does it take for a guarantee bond to be approved and issued after submission of application to CGIF?","\u003Cp>The fastest deal so far from submission of a formal application to an issuance took approximately four months. The overall timeline largely depends on the issuer’s information turnaround and the deal’s complexity including security package. Project bonds typically take longer than straightforward corporate bonds.\u003C/p>",{"title":491,"description":492},"What are the fees and charges associated with obtaining a CGIF guarantee?","\u003Cp>Guarantee fees are generally priced at market and take into consideration, among other things, the project, sector, and country risks.\u003C/p>\u003Cp> \u003C/p>\u003Cp>Issuers would need to bear costs for due diligence and out of pocket costs. For simple businesses, the due diligence costs are generally low. Project bonds and securitizations, however, may require technical experts, leading to higher due diligence expenses.\u003C/p>",{"tab_name":162,"faq_list":494},[495,498,501,504,507,510,513,514,517],{"title":496,"description":497},"Will bondholders have additional security or collateral?","\u003Cp style=\"margin-left:0.0px;\">For fully guaranteed bonds, the CGIF guarantee is the sole form of security. No additional collateral is required for bondholders.\u003C/p>\u003Cp style=\"margin-left:0.0px;\"> \u003C/p>\u003Cp style=\"margin-left:0.0px;\">For partially guaranteed bonds, bondholders and CGIF may share in additional collateral granted by the issuer.\u003C/p>",{"title":499,"description":500},"How does CGIF ensure its financial stability?","\u003Cp style=\"margin-left:0.0px;\">CGIF has maintained a steady and conservative growth with minimal credit deterioration in its portfolio. Its strong risk management focus emphasizes rigorous credit monitoring throughout the term of its guarantees. \u003C/p>\u003Cp style=\"margin-left:0.0px;\"> \u003C/p>\u003Cp style=\"margin-left:0.0px;\">CGIF stability is reflected in CGIF’s AA rating from S&P.\u003C/p>",{"title":502,"description":503},"Do CGIF’s ESG policies comply with international best practices?","\u003Cp style=\"margin-left:0.0px;\">Yes. CGIF’s ESG policies adopt the ESG policies of the Asian Development Bank which are aligned with international best practices.\u003C/p>",{"title":505,"description":506},"Does CGIF cover non-payment of early redemption by the issuer?","\u003Cp style=\"margin-left:0.0px;\">No, CGIF only covers scheduled payment of principal or scheduled interest by the Issuer which is overdue and unpaid.\u003C/p>",{"title":508,"description":509},"CGIF guarantees are irrevocable and unconditional. Are there circumstances where CGIF can refuse a valid claim?","\u003Cp style=\"margin-left:0.0px;\">None. CGIF’s guarantee is comprehensive and covers claims which are submitted in accordance with the stipulated terms.\u003C/p>",{"title":511,"description":512},"Can the guarantee be governed under local law?","\u003Cp>No. The guarantee is governed by English law, as are the key agreements between CGIF and the issuer or trustee.\u003C/p>",{"title":485,"description":486},{"title":515,"description":516},"What are the eligibility criteria for CGIF’s support?","\u003Cp style=\"margin-left:0.0px;\">Prospective issuers must be ultimately owned or controlled by ASEAN+3 nationals and must be operating in this region. If the issuer is not owned or controlled by nationals or companies from the region, the bond proceeds must be used for ‘Eligible Developmental Purposes’ such as infrastructure, thematic issuances or for issuances in frontier markets.\u003C/p>\u003Cp style=\"margin-left:0.0px;\"> \u003C/p>\u003Cp style=\"margin-left:0.0px;\">\u003Cstrong>CGIF’s preliminary criteria include:\u003C/strong>\u003C/p>\u003Col style=\"list-style-type:decimal;\">\u003Cli>Creditworthiness of the issuer and its ability to meet CGIF’s minimum internal rating;\u003C/li>\u003Cli>Proceeds of bond issuance are not used for any activities listed in CGIF’s prohibited investment activities list*;\u003C/li>\u003Cli>No material environment, social and integrity risk issues; and\u003C/li>\u003Cli>Deal supports development of the ASEAN+3 local currency bond market.\u003C/li>\u003C/ol>\u003Cp style=\"margin-left:0.0px;\"> \u003C/p>\u003Cp style=\"margin-left:0.0px;\">Available at \u003Ca href=\"https://www.cgif-abmi.org/adb-prohibited-investment-activities-list/\">\u003Cspan style=\"color:hsl( 48, 97%, 48% );\">https://www.cgif-abmi.org/adb-prohibited-investment-activities-list/\u003C/span>\u003C/a>\u003C/p>",{"title":518,"description":519},"Based on actual cases where CGIF has paid out under its guarantees, did any bond investor incur a financial loss?","\u003Cp style=\"margin-left:0.0px;\">With 101 issuances (as of March 2025), CGIF only experienced two guarantee pay-outs, one due to issuer default and another from a CGIF acceleration.\u003C/p>\u003Cp style=\"margin-left:0.0px;\"> \u003C/p>\u003Cp style=\"margin-left:0.0px;\">Pending pay-out under the guarantee, the bonds maintained their AAA local issue rating as the CGIF guarantee remained valid, ensuring that bondholders’ investments are protected that bondholders’ investments are protected and no accounting loss provisioning is required.\u003C/p>\u003Cp style=\"margin-left:0.0px;\"> \u003C/p>\u003Cp style=\"margin-left:0.0px;\">In both instances, bondholders received their outstanding principal, coupons, and accrued interest in accordance with the guarantee terms.\u003C/p>","2025-09-27T01:43:01.000000Z","2026-01-14T11:59:56.000000Z",[523,524,525,526,527,291,292,528],"color_background","layout","subtitle","title","description","tab_list",{"is_active":285,"is_inactive":298,"has_template":298,"is_configured":298},{"is_valid":298,"missing_required_fields":531,"validation_errors":532},[],[],{"created_at":534,"updated_at":536},{"iso":520,"human":304,"formatted":535},"Sep 27, 2025 9:43 AM",{"iso":521,"human":537,"formatted":538},"2 months ago","Jan 14, 2026 7:59 PM",{"title":50,"description":6,"keywords":540,"image":6,"canonical_url":541},[],"https://cgif-web.praxxystech.com/faqs",{"level":12,"path":543,"is_root":285,"is_leaf":285},[544],{"id":432,"title":50,"slug":433},{"created_at":546,"updated_at":548,"published_at":549},{"iso":437,"human":304,"formatted":547},"Sep 24, 2025 3:42 PM",{"iso":15,"human":424,"formatted":425},{"iso":436,"human":304,"formatted":550},"Sep 24, 2025 3:59 PM",{"version":428,"generated_at":552},"2026-04-14T03:52:17.950797Z",{"breadcrumbs":554},[555],{"id":432,"title":50,"slug":433,"full_slug":433},1776138737522]