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

Wing Bank (Cambodia) Plc has invested 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 between CAIC director Mr Charles Vann and Wing Bank CEO Mr Han Peng Kwang and witnessed by OCIC Chairman Neak Okhna Dr Pung Kheav Se and Royal Group Chairman Oknha Kith Meng.

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

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

Techo International Airport project is currently 30% complete with a total amount of US$390m (excluding airport land) already invested by CAIC.

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