Five Banks Invest US$23m in Guaranteed Bonds for New Phnom Penh Airport

• Sommana Yan
• 14 October 2022
• Uncategorized
• 3615 Views

Five commercial banks have signed agreements with Cambodia Airport Investment Co., Ltd (CAIC) investing over US$23 million in guaranteed bonds to support the development of Techo International Airport.

The five banks include Cathay United Bank (CUBC), First Commercial Bank (FCB), Mega International Commercial Bank (Mega ICBC), Taiwan Cooperative Bank (TCB), and Union Commercial Bank (UCB, a Cambodian subsidiary of Taiwan E. Sun Commercial Bank).

The agreement was signed on 14 October between CAIC, OCIC, and the five banks’ representatives.

Funds from the guaranteed bonds will be used for the construction of the new Techo International Airport in Kandal province. To date, the TIA project has been 40% completed, with CAIC investing US$524 million (excluding land) to date.

The guaranteed bond has a coupon rate of 5.5% with a 3-year period.