ABA Bank Invests US$30m in New Phnom Penh Airport Development Through Guaranteed Bonds

15 December 2021
Local News
3455 Views

Cambodia Airport Investment Co Ltd has sold another US$30 million guaranteed bond to ABA Bank to raise more funds for the development of the new Phnom Penh airport.

The signing ceremony was held on December 14 between Overseas Cambodian Investment Corporation Ltd (OCIC), Cambodia Airport Investment Co., Ltd (CAIC) and ABA Bank.

The bond is guaranteed by OCIC with an interest rate of 5.5% per annum and a maturity date of 3 years. The budget raised from the guaranteed bond will be used for the construction and development of the Techo International Airport.

CAIC has issued a total of US$300 million, and at least over US$100 million has been thus far sold to many financial institutions including ABA Bank.

Prime Minister Samdech Hun Sen has also urged local financial institutions to continue investing in this US$300-million guaranteed bond, aiming to prove that Khmer can also fund their own large-scale project just like the “Khmer Can Do it” slogan. (Read more)

As of December 2021, the construction of this new Phnom Penh airport, which was renamed as Techo Krong Takmao International Airport, is 27% complete and scheduled for operation in 2023.

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