Cambodia Post Bank Plc. (CP Bank) has invested US$10 million in Cambodia Airport Investment Co., Ltd. (CAIC)’s guaranteed bond to support the construction of the Takhmao Techo International Airport in Kandal province.
The Takhmao Techo International Airport Guaranteed Bond Signing Ceremony was held on Tuesday between Mr. Charles Vann, Deputy Director General of CAIC and Mr. Toch Chaochek, CEO of CP Bank, in the presence of Neak Oknha Pung Kheav Se, Chairman of the Board of Directors of the Overseas Cambodian Investment Corporation (OCIC).
The bond interest rate is 5.5 percent per annum with a term of 3 years and guaranteed by OCIC.
CP Bank is the fourth local private company to invest in guaranteed bonds issued by CAIC, while the other three companies are Prince Bank, Foreign Trade Bank of Cambodia (FTB), and ABA Bank.
The Takhmao Techo International Airport project has so far achieved more than 28 percent costing an investment of around US$375 million, excluding the cost of land already invested by CAIC, a joint venture between the Royal Government of Cambodia represented by the State Secretariat of Civil Aviation and OCIC.
Source: Agency Kampuchea Press