OCIC, CAIC and 5 commercial banks sign a bond placement guaranteed by TIA
The Overseas Cambodian Investment Corporation (OCIC), Cambodia Airport Investment Co., Ltd (CAIC) and five major banks on Friday signed the guaranteed bond for investment in Techo International Airport (TIA) in Kandal province. .
OCIC, CAIC and five commercial banks including Cathay United Bank, First Commercial Bank, Mega International Commercial Bank, Taiwan Cooperative Bank and Union Commercial Bank have signed an investment agreement in TIA.
Under the agreement, the Big Five banks subscribed for a total of $23 million in the TIA-backed bond, which is guaranteed by OCIC.
The TIA covered bond has a coupon rate of 5.5% with 3 years.
The funds from the TIA Guaranteed Bond will be used for the construction of the new international airport in the province of Kandal.
So far, the TIA project has achieved 40 percent. CAIC has invested $524 million (excluding land) to date.
Overseas Cambodian Investment Corporation (OCIC) core businesses and expertise include real estate development, infrastructure, construction, property management, education, healthcare, media, shopping malls, hotels, rice mills, glass factories, etc. Notable projects include Techo International Airport. , Diamond Island Satellite City, Norea Island Satellite City, Chroy Changvar Satellite City and Olympia City etc.
Cambodia Airports Investment Corporation (CAIC) is a joint venture between the Royal Government of Cambodia, represented by the State Secretariat for Civil Aviation (SSCA), and the Overseas Cambodian Investment Corporation (OCIC).
The Royal Government of Cambodia has granted CAIC the exclusive rights to finance, build, operate and own Techo International Airport.
- Key words: Techo International Airport