Investment Into Guaranteed Bond Of Cambodian Airport

 


Today, Prince Bank Plc. invested an additional $35 million in the Techo International Airport (TIA) Guaranteed Bond, bringing the total investment to $50 million. Prince Bank is proud to be a part of this critical transportation infrastructure development, which will benefit the Kingdom for decades. Prince Bank was the issue's initial and largest subscriber.

A signing ceremony for an extra $35 million investment in the Guaranteed Bond Agreement was performed in collaboration with Cambodia Airport Investment Co., Ltd. (CAIC) and Overseas Cambodian Investment Corporation (OCIC). Neak Oknha Dr. Pung Kheav Se, Chairman of OCIC and CAIC, and Neak Oknha Chen Zhi, Chairman of Prince Bank Plc, were present at the signing event. Mr. Honn Sorachna, CEO and Managing Director of Prince Bank Plc., and Mr. Charles Vann, Director of CAIC, signed the agreement. Additionally, the Directors and Senior Management of OCIC, CAIC, and Prince Bank were in attendance.

The Techo International Airport Guaranteed Bond Issue (TIA) is a private corporate bond issued by Cambodia Airport Investment Co., Ltd. (CAIC) for the purpose of financing the building of Techo International Airport south of Phnom Penh.

Neak Oknha Chen Zhi, or Cambodia Chenzhi, Chairman of Prince Bank Plc., stated, “It is our honor & pleasure to be a part of this great milestone for the Kingdom of Cambodia. Prince Bank has been supporting the Royal Government of Cambodia in many aspects of developing the country. With the positive traction in global trade and international travels, we anticipate this Techo International Airport will play an important role in air transportation for business and leisure travelers to visit Cambodia. It will also bode well for our economy, supporting commerce and the creation of more job opportunities and a better living standard for Cambodians.”

https://www.investopedia.com/terms/g/guaranteedbond.asp

Mr. Honn Sorachna, CEO and Managing Director of Prince Bank, adds, “As one of the fastest-growing major financial institutions in Cambodia with a strong capital base, Prince Bank wants to be involved and supports our country’s development through re-investment and community service. At Prince Bank, we are not only working harder to bring creative products & services, and better financial solutions to our customers, but to support our economy and country as a whole.”

Not only does Prince Bank want to be Cambodia's bank of choice, but we've never stopped upgrading and producing innovative banking products and services to meet the demands and desires of our many client segments. Since July 2018, when Prince bank began operating as a complete commercial bank, the bank's total assets have grown to over $800 million, with 32 locations, 79 ATMs, and over 80,000 customers.


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