Hattha Bank Invests US$15 million in CAIC Bond to Fund New Airport Development

• 4 March 2022
• Local News
• 1311 Views

Hattha Bank Plc has invested US$15 million in guaranteed bonds of the Cambodia Airport Investment Co., Ltd. (CAIC) to fund the development of the Techo International Airport.

The agreement was signed on 4 March held between CAIC Director Mr Charles Vann, Hattha Bank President and CEO Oknha Hout Ieng Tong, in the presence of Neak Oknha Dr Pung Kheav Se, Chairman of Overseas Cambodian Investment Corporation Ltd. (OCIC).

The coupon rate of CAIC bonds is 5.5% per annum with a 3-year tenure and guaranteed by OCIC. The funds raised in the bond will be used for the construction and development of Techo International Airport in Kandal province.

Techo International Airport project is currently 32% completed with a total amount of US$414 million already invested by CAIC (excluding airport land).

CAIC is a joint venture between the Royal Government of Cambodia (RGC), represented by the State Secretariat of Civil Aviation, and OCIC. The RGC has granted CAIC the rights to own, design, construct, finance, operate, maintain and manage Techo International Airport Project.

• Investment and Funding
• Airport and Aviation