Hatha Bank Plc has invested $15 million-guaranteed bond of the Cambodia Airport Investment Co., Ltd. (CAIC) as a contribution towards developing the under-construction Techo International Airport in Kandal province.
The signing ceremony was held today between Charles Vann, Director of the Cambodia Airport Investment Co., Ltd. and Hout Ieng Tong, President and CEO of the Hattha Bank Plc.
The event was witnessed by Pung Kheav Se, Chairman of Overseas Cambodian Investment Corporation Ltd. (OCIC), the firm that provides guarantee to the bond.
The funds raised from Techo International Airport Guaranteed Bond will be used for the construction and development of Techo International Airport in Kandal province, the firm said, citing that the project is currently 32 percent completed with a total amount of $414 million (excluding airport land).
The coupon rate of CAIC bond is 5.5 percent per annum with 3-year tenor and guaranteed by OCIC.
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.
Hattha Bank is a subsidiary of Bank of Ayudhya Public Company Limited and its group companies (Krungsri) is the fifth largest financial group in Thailand.
OCIC is the largest investment group and local conglomerate in Cambodia. The company’s core expertise is in infrastructure development, real estate, construction, property management, education, medical, shopping mall, hotel, rice mill, manufacturing etc with notable projects such as Techo International Airport, Diamond Island City, Norea Island, Chroy Changvar Satellite City and Olympia City Complex.
This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.
