by Sotheary
Phnom Penh: Cambodia Post Bank Plc (CPBank) has purchased a US$10-million bond of the Cambodia Airport Investment Co., Ltd (CAIC) to help fund the development of the new Techo International Airport.
The purchasing agreement was signed on 28 December by CAIC Director Charles Vann and CEO of CPBank Toch Chaochek with OCIC Chairman Neak Oknha Dr Pung Kheav Se as the witness
The funds raised from the guaranteed bond will be used for the construction and development of Techo International Airport in Kandal province. The coupon rate of CAIC bonds is 5.5% per annum with 3 years tenor and guaranteed by OCIC.
CAIC has issued a total of US$300 million, and at least over US$100 million has been thus far sold to many financial institutions.
Prime Minister Samdech Hun Sen has also urged local financial institutions to continue investing in this US$300-million guaranteed bond, aiming to prove that Khmer can also fund large-scale projects just like the “Khmer Can Do it” slogan.
As of December 2021, the construction of this new Phnom Penh airport, which was renamed Techo Krong Takmao International Airport, is 27% complete and scheduled for operation in 2023.
