PHNOM PENH: ACLEDA BANK PLC has raised some US$100 million from issuing Subordinated Bonds to strengthen and support the bank’s capital and sustainable business growth with the trust from customers.
“The Official Subordinated Bond Listing Ceremony of ACLEDA BANK” was held on Oct. 8 under the highest presidency of H.E. Dr. Hean Sahib, Secretary of State of the Ministry of Economy and Finance and Chairman of the Board of Directors of the Cambodia Securities Exchange (CSX), and was attended by H.E. Sou Socheat, Delegate of Royal Government in charge as Director General of Securities and Exchange Regulator of Cambodia (SERC), H.E. Hong Sok Hour, Royal Government Delegate in Charge as CEO of the CSX, and representatives of institutions, and distinguished guests.
ACLEDA BANK successfully conducted the subscription, with 77 qualified investors subscribed all subordinated bond issuance in the amount of KHR 400 billion equivalent to US$100 million with coupon rate of 7.5 percent per annum, which provides opportunities for investors and helps banks raise capital to support banking operations, contributing to the development of the local economy and national society.
This subordinated bond has large amount, which has resulted in ACLEDA BANK gaining trust and confidence from investors beyond expectations.
Dr. In Channy, President & Group Managing Director of ACLEDA BANK, said, “I am honoured and very pleased to express my deepest gratitude to the National Bank of Cambodia and the Securities and Exchange Regulator of Cambodia for having permitted ACLEDA BANK to issue subordinated bonds worth up to KHR 400 thousand million equivalent to US$100 million.
He believed that this issuance of Subordinated Bond will provide investors and customers with an additional investment option with ACLEDA BANK.
The Subordinated Bond is a common financial instrument that banks around the world including ACLEDA have been using for strengthening and supporting their capital and sustainable business growth with the trust from customers.