SECC releases principal approval on ABA Corporate Bond
Advanced Bank of Asia Limited (ABA Bank), a member of National Bank of Canada Group, announces to receive a principal approval from the Securities and Exchange Commission of Cambodia (SECC) on request to issue the Bank’s corporate bond (ABA Bond) for the public. The approval was obtained during the meeting of SECC on July 23, 2019.
ABA will further fulfill the requirements for the public offering of corporate bonds in pursuance to the law and regulations before obtaining the final approval for listing on the Cambodia Securities Exchange (CSX). The Bank plans to issue the bonds in the total aggregate amount of KHR 128 billion (equivalent USD 32 million) with the nominal amount of KHR 100,000 per bond and the maturity of three years. The coupon rate ranges from 7.00% to 7.75% per annum with the semi-annual coupon payment.
As informed by the Bank earlier, the net proceeds from the bond issuance will be used for operating expenditure as well as growth in the lending business, which will support rural micro-, small and medium enterprises (“MSME”), including women entrepreneurs in Cambodia.
SBI Royal Securities is the sole financial advisor and underwriter for this landmark transaction of ABA Bank.
For further information please contact:
Mr. Seng Chan Thoeun
Head of Corporate Finance
SBI Royal Securities Plc
Tel: +855 23 999 595
Mobile: +855 16 925 259/+855 77 333 629
Mr. Zhiger Atchabarov
Chief International Operations Officer
Tel: +855 98 203 512
Mobile: +855 98 630 168