Logo of Phnom Penh Post newspaper Phnom Penh Post - Amret Plc completes $50M syndicated loan

Amret Plc completes $50M syndicated loan

Content image - Phnom Penh Post
Amret MFI head office

Amret Plc completes $50M syndicated loan

Amret Plc. has successfully completed a three-year $50 million offshore syndicated term loan facility. The signing was held on 17 April, 2020.

Cathay United Bank (CUB) acted as the sole mandated lead arranger and bookrunner, and facility agent.

This transaction was an accomplishment amid the uncertainty caused by the Covid- 19 and the Russia-Saudi Arabia oil price war.

Supported by a core pool of Asian liquidity, the financing was concluded within two months of the launch and achieved a tighter pricing for Amret as compared to its last offshore syndication in July 2018.

The enthusiastic response from the Asian financial institutions, which resulted in an oversubscription, is a testimony to Amret’s robust credit quality.

Given the execution capability, CUB is the partner of choice for Amret’s future financing requirements.

“The loan proceeds will be use to further Amret’s mission to serve the underbanked and unbanked segment of the Cambodian population, improve the living standards of the people, and contribute to the economic and social development of the country. And Amret prides itself to deliver its financial services in the most socially responsible manner,” says Dos Dinn, CEO of Amret.

About Amret

Amret serves more than 500,000 clients ranging from low- income farmers to SMEs with a full suite of loans, deposit and payments services. Amret has 158 branches nationwide complemented with a variety of digital channels, enabling broad access. Amret employs more than 4,500 personnel and has assets over $1 billion. Its deposits exceed $500 million.

Amret is a subsidiary of the Advans Group, a leading international microfinance group providing financial services to low-income segments and SMEs in 10 countries. FMO and IFC are two other shareholders with over 1 billion in assets.

https://amret.com.kh/en/

About Cathay United Bank

Cathay United Bank (https://www.cathaybk.com.tw/cathaybk/) is one of the leading banks in Asia.

As of December 31, 2019, the company had total assets of over $99 billion and over nine million customers. Cathay United Bank has overseas footprints in China, Vietnam, Cambodia, Hong Kong, Singapore, Malaysia, Laos, the Philippines, Thailand, Myanmar and Indonesia.

MOST VIEWED

  • Five-year-old Hanuman dances his way into hearts of Cambodia

    A young talent from a new-established settlement has emerged, captivating the online world with his mesmerising performances of the traditional Cambodian monkey dance. Roeun Kakada is a five-year-old prodigy who has taken the social media sphere by storm with his exceptional dance skills and dedication

  • Fresh Covid warnings as Thai hospital fills

    A senior health official reminds the public to remain vigilant, as neighbouring countries experience an increase in Covid-19 cases, with the latest surge appearing to be a result of the Omicron XBB.1.5 sub-variant. Or Vandine, secretary of state and spokeswoman for the Ministry of Health,

  • Honda shutters Siem Reap football club

    Japanese football legend Keisuke Honda, the owner of Siem Reap football club Soltilo Angkor FC, has been forced to shut the club down, after it failed to attract sponsorship for the upcoming season. Honda, the former manager of the Cambodia men's national football team, said

  • Hun Sen warns of regional tensions

    ASIA is becoming a dangerous geopolitical hotspot, with several countries announcing that they intend to send naval vessels towards Southeast Asia and on to the South China Sea, warned Prime Minister Hun Sen. “Heated geopolitical issues can easily escalate, namely to war. I am not

  • PM declares ASEAN Para Games open

    The 12th ASEAN Para Games officially kicked off on the evening of June 3 at Morodok Techo National Stadium in Phnom Penh, with a spectacular opening ceremony featuring fireworks and performances by some of the Kingdom’s most accomplished talents. Tens of thousands of sports fans

  • Waterway job still pending for Kampot tourism port’s opening

    The search is still on for a contractor to expand and deepen the Kampot International Tourism Port’s waterway and deliver additional enhancements allowing safe access for larger vessels, nearly a year after the main construction work on the 4.25ha site was completed on June 30, 2022.