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Prince Bank invests additional $35 million in Techo International Airport Guaranteed Bond

Content image - Phnom Penh Post
Left to right: Charles Vann, director of CAIC, Neak Oknha Dr Pung Kheav Se, chairman of OCIC and CAIC, Neak Oknha Chen Zhi, chairman of Prince Bank, and Honn Sorachna, CEO and managing Director of Prince Bank. SUPPLIED

Prince Bank invests additional $35 million in Techo International Airport Guaranteed Bond

Prince Bank Plc invested an additional $35 million – totalling $50 million – in the Techo International Airport (TIA) Guaranteed Bond on Thursday.

Prince Bank said it is “an honour” to be part of such an important transportation infrastructure development, one that “bodes well” for the Kingdom for decades to come. Prince Bank is the first and now largest subscriber in the TIA bond issue.

Together with Cambodia Airport Investment Co, Ltd (CAIC) and Overseas Cambodian Investment Corporation (OCIC), a signing ceremony was held for the additional$35 million investment in the Guaranteed Bond Agreement.

The agreement was signed by Honn Sorachna, the CEO and managing director of Prince Bank Plc, and Charles Vann, the director of CAIC.

The signing was witnessed by Neak Oknha Dr Pung Kheav Se, chairman of OCIC and CAIC, and Neak Oknha Chen Zhi, the chairman of Prince Bank Plc.

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Neak Oknha Dr Pung Kheav Se and and Neak Oknha Chen Zhi discuss the significance of the agreement at the signing ceremony. SUPPLIED

Also present were the directors and senior management of OCIC, CAIC and Prince Bank.

The Techo International Airport Guaranteed Bond Issue (TIA) is a private corporate bond issued by Cambodia Airport Investment Co, Ltd (CAIC) for the construction of the Techo International Airport located south of Phnom Penh.

“It is an honour and pleasure to be a part of this great milestone for the Kingdom of Cambodia. Prince Bank has been supporting the Royal Government of Cambodia in many aspects of developing the country.

“With the positive traction in global trade and international travel, we anticipate that Techo International Airport will play an important role in air transportation for business and leisure travellers to visit Cambodia.

“It also bodes well for our economy, supporting commerce, and the creation of more job opportunities and better living standards for Cambodians,” said Neak Oknha Chen Zhi, chairman of Prince Bank.

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Honn Sorachna, CEO and managing director of Prince Bank (right), and Van Charles, managing director of CAIC, sign the agreement on Thursday. SUPPLIED

Honn Sorachna, CEO and managing director of Prince Bank, said: “As one of the fastest growing major financial institutions in Cambodia with a strong capital base, Prince Bank wants to be involved in supporting our country’s development through re-investment and serving the community.

“At Prince Bank, we are working harder to bring creative products and services, and better financial solutions to our customers, to support our economy and country as a whole.”

With strong foundations, Prince Bank has never stopped improving and developing innovative banking products and services to serve the needs and wants of its different client segments, as it aspires to become the bank of choice in Cambodia.

Operating as a full commercial bank since July 2018, Prince bank is going from strength to strength, with total assets now standing at more than $800 million, 32 branches, 79 ATMs and over 80,000 customers.

For more information about Prince Bank’s products and services, please visit www.princebank.com.kh or call the Contact Center on 1800 20 8888.

Content image - Phnom Penh Post
Senior management of Prince Bank, OCIC and CAIC attended the ceremony. SUPPLIED

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