CGCC Buys US$2 million in CAIC Bonds, Funding New Airport Development

• 27 January 2022
• Local News
• 1260 Views

The Credit Guarantee Corporation of Cambodia Plc. (CGCC) has invested 8 billion Riels (approx. US$2 million) in the guaranteed bonds of Cambodia Airport Investment Co., Ltd. (CAIC) to support the development of the Techo International Airport.

The agreement was signed on Thursday 27 January between CAIC Director Mr Charles Vann and CGCC CEO Mr Wong Keet Loong and witnessed by OCIC Chairman Nreak Okhna Pung Kheav Se and HE Mey Vann, Secretary of State of Ministry of Economy and Finance.

The coupon rate of CAIC bonds is 5.5% per annum with a 3-year tenure and guaranteed by OCIC.

The funds raised from the sale of Techo International Airport Guaranteed Bonds will be used for the construction and development of Techo International Airport in Kandal province.

Techo International Airport project is currently 30% completed with a total amount of US$390 million spent by CAI, excluding the cost of purchasing the land.

• Investment and Funding
• Airport and Aviation