ACLEDA Bank Invests US$30 million in CAIC Bond, Funding New Phnom Penh Airport Development

• 10 January 2022
• Local News
• 2659 Views

ACLEDA Bank Plc has invested US$30 million in a guaranteed bond of the Cambodia Airport Investment Co Ltd (CAIC) to contribute to developing the Techo International Airport.

The agreement was signed on Monday 10 January by CAIC Director Charles Vann and ACLEDA Bank Plc President In Channy, witnessed by OCIC Chairman Neak Oknha Dr Pung Kheav Se.

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

“The funds raised from the bond will be used for the construction and development of Techo International Airport in Kandal province,” read a press release issued upon the signing ceremony.

CAIC has issued total bonds of US$300 million, and at least over US$100 million has thus far been invested in by many financial institutions.

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

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

 

• Investment and Funding
• Airport and Aviation