CGCC Invests in CAIC’s US$2 Million Guaranteed Bond

State-owned Credit Guarantee Corporation of Cambodia Plc. (CGCC) has bought 8,000 million Riels (approximately US$2 million) in the Cambodia Airport Investment Co. Ltd. (CAIC)’s bond to support the development of Techo International Airport.
The signing ceremony was held on Jan. 27 between Mr. Charles Vann, Director of CAIC and Mr. Wong Keet Loong, CEO of CGCC, under the presidency of Neak Oknha Pung Kheav Se, Chairman of Overseas Cambodian Investment Corporation Ltd. (OCIC), and H.E. Mey Vann, Secretary of State at the Ministry of Economy and Finance and member of CGCC’s Board of Directors.
The coupon rate of CAIC bond is 5.5 percent per annum with three-year tenor and guaranteed by OCIC.
The funds raised from Techo International Airport Guaranteed Bond will be used for the construction and development of Techo International Airport in Kandal province.
CAIC is a joint venture between the Royal Government of Cambodia represented by the State Secretariat of Civil Aviation and OCIC. The Royal Government has granted CAIC the rights to own, design, construct, finance, operate, maintain and manage Techo International Airport Project.

Source: Agency Kampuchea Press