Neak Okhna Kith Meng, Chairman of Royal Group and Royal Railway, said: “This USD 24 million listed bond and its investment into the Royal Railway will progress this strategically important infrastructure asset to support the increasing logistic needs of Cambodia through increased capacity, safer delivery and lower costs. This bond is my commitment for the growth of the railway adding new and better services for the Cambodian people”.
His Excellency Sou Socheat, Director General of Securities and Exchange Regulator of Cambodia (SERC), said: “This will be the second listed bond by Royal Railway on the Cambodian Securities Exchange which the proceeds will be used to continue the development and expansion of an important infrastructure asset in Cambodia. This bond is the first infrastructure bond to list in Cambodia and has many features that have the potential to be transformational to lead future infrastructure funding through the domestic capital markets in the country. The Bond also sets a benchmark given it is rated Kh-AAA by the newly established Rating Agency of (Cambodia) Plc”.
May Lin, Chief Financial Officer of Manulife Cambodia, said: “Manulife Cambodia’s investment in the Royal Railway Bonds is a demonstration of our commitment to working with the government and key market participants to develop the Cambodia Capital Market. This in turn will improve the access to capital and support critical infrastructure projects such as the Royal Railway. It is just another example of Manulife’s values in action as we strive to make the Cambodian peoples’ everyday lives easier and better.”
Sanjay Chakrabarty, Chief Executive Officer of Prudential Cambodia, said: “As one of the largest insurers in Cambodia with over USD 200 million of assets under management, we strive to improve the country’s transportation system and socio-economic development by participating in Cambodia’s financial markets. Our investment in this sustainable and inclusive infrastructure project well aligns with Prudential’s purpose to help people get the most out of life.”
Seng Chan Thoeun, CEO of SBI Royal Securities, said: “This transaction witnesses the very important role of the capital market in supporting financing for infrastructures such as railway, affordable house, telecom, renewable energy project, hospital, etc. Being the first floating rate bond listed on the exchange, we are having another innovative financing structure to support local corporates. Furthermore, given that Cambodia requires significant investment in infrastructure to sustain its economic growth, SBI Royal Securities will replicate this bond structure to assist the burgeoning of infrastructure sector”.
