OCIC, CAIC Sell US$20-million Bond to FTB Bank to Fund Phnom Penh Airport Development

Cambodia Airport Investment Co., Ltd (CAIC) has issued and sold US$20 million in guaranteed bonds to FTB bank to collect more funds for the construction of the new Phnom Penh International Airport in Kandal province.

The agreement of the US$20 million guaranteed bonds was signed by Charles Van, CEO of OCIC and CAIC, and Dith Sochal, General Manager of FTB.

With an interest rate of 5.5% per annum, the bond is guaranteed by OCIC with a three-year tenure.

Earlier this month, CAIC also sold a US$15-million guaranteed bond to Prince Bank for the same purpose of raising funds for the new Phnom Penh International Airport.

According to the CAIC report in early November, the new Phnom Penh International Airport project is currently 26% completed with a total amount of US$346 million (excluding airport land) already invested by CAIC. (Read more)

The 4F New Phnom Penh International Airport is expected to commence operations in 2023.

Photo Credit to គួន សំបូរ

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