Corporate bonds of ABA Bank officially listed on Cambodia Securities Exchange

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ABA bond
Left The representatives of regulatory authorities, SBI Royal Securities, and ABA Bank ringing the bell to commence ABA Bond listing at CSX.

Following the successful issuance earlier this month, ABA Bank officially listed its corporate bonds (ABA Bond) on the Cambodia Securities Exchange (CSX). ABA Bond was assigned the “ABAA22A” symbol.

Issued for the total amount of KHR 84.821 billion (around $21 million), ABA Bond has the maturity of three years and pays a coupon of 7.75% p.a. It becomes the first corporate bond available for retail investors in addition to institutional investors. ABA Bond is also the first offer of debt securities from a commercial bank in the country and the first Cambodian bond with the international ‘B’ rating from Standard&Poor’s (S&P) Global Ratings agency.

Giving remark during the official listing event, ABA Bank’s CEO Askhat Azhikhanov said, “We at ABA are delighted with the result of the Bond subscription and consider it successful with almost 850 thousand bonds issued. It is also encouraging that among 65 investors, 60 are from the retail side, and most investors are Cambodians.”

Hean Sahib
H.E. Dr. Hean Sahib the Secretary of State of Economy and Finance and Chairman of CSX, delivers his remark. Photo supplied

“It displays people’s confidence in the national currency and their desire to invest in Khmer Riels. Additionally, it shows that our target on financial inclusion and literacy was also achieved. We truly believe that ABA Bond contribution is important for the Cambodian capital market development and will bring even more trust in this sector,” he added.

At the listing ceremony, the representatives of regulatory authorities praised ABA Bond and congratulated stakeholders on the occasion.

“This accomplishment opens a new chapter for all enterprises, especially the banking institutions who are planning to raise capital on the Cambodia Securities Exchange to sustain their business growth,” said H.E. Dr.

Hean Sahib, the Secretary of State of Ministry of Economy and Finance and Chairman of CSX, in his speech.

H.E. Hong Sok Hour, CEO of CSX also commented, “Today we reach another milestone for CSX to have ABA Bank’s corporate bond, the third corporate bond listed on CSX. I would like to congratulate ABA Bank for this achievement, which makes it the eighth listed company and the first bond from commercial bank listed in Cambodian securities market.”

Hong Sok Hour
H.E. Hong Sok Hour, CEO of CSX, speaks during the ceremony. Photo supplied

As reported earlier, the net proceeds from the bond issuance will support rural micro-, small and medium enterprises, including women entrepreneurs in Cambodia.

About ABA Bank
ABA Bank (S&P rating: ‘B’ with Positive outlook) is one of Cambodia’s leading banking institutions that offers the entire spectrum of modern financial services and digital banking solutions to customer segments covering SMEs, microbusinesses, and individuals.

As at 31 July 2019, ABA’s total assets reached US$3.81 billion, making it the third largest bank in Cambodia.
For more information on ABA, visit www.ababank.com.

The major shareholder of ABA is National Bank of Canada, the sixth largest bank in Canada and the leading bank in Quebec where it is the partner of choice among SMEs.

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