Advanced Bank of Asia Limited (ABA Bank), member of National Bank of Canada Group, announces today that it obtained an approval from the National Bank of Cambodia (NBC) to begin the process of issuing corporate bonds on the Cambodian capital market.
ABA Bank will offer corporate bonds to the public with the total principal amount of up to KHR 100 billion (USD 25 million) with a tenor of 3 years and coupon rate of 7.0% to 7.75%. ABA Bank next seeks to obtain approval for the bond issuance from the Securities and Exchange Commission of Cambodia (SECC) via submission of the Disclosure Document. The bonds will be listed on the Cambodia Securities Exchange (CSX).
Net proceeds from the bond issuance will be used for operating expenditure as well as growth in the lending business, which will support rural micro-, small and medium enterprises (“MSME”), including women entrepreneurs in Cambodia.
SBI Royal Securities is the sole financial advisor and underwriter for this landmark transaction of ABA Bank.
About ABA Bank:
ABA Bank is one of Cambodia’s leading banking institutions founded in 1996. Today, ABA offers the entire spectrum of modern financial services and digital banking solutions to customer segments covering SMEs, microbusinesses, and individuals.
As at May 31, 2019, ABA Bank’s total assets equaled to US$3.36 billion, making it the third largest bank in Cambodia. In 2017, ABA Bank received the issuer credit rating ‘B’ from Standard & Poor’s (S&P) Global Ratings. In 2018, S&P reaffirmed the credit rating with “Positive” outlook.
ABA Bank was named “Best Bank in Cambodia” for 2015-2019 by major publications including The Banker, Euromoney, and Global Finance magazines.
The major shareholder of ABA Bank is National Bank of Canada (www.nbc.ca), the sixth largest bank in Canada and the leading bank in Quebec where it is the partner of choice among SMEs.
About SBI Royal Securities:
SBI Royal Securities is the leading securities firm in Cambodia, offering a full range of investment services, which include underwriting, advising, mergers and acquisitions, and brokerage. In 2018, SBI Royal Securities was named as Cambodia’s “Best Corporate and Investment Bank” by Asiamoney magazine.
Established in February 2010, SBI Royal Securities Plc (SBIR) became the first Japanese financial institution to acquire the “full license” required to operate a securities business in Cambodia from Securities and Exchange Commission of Cambodia (SECC).
SBI Royal Securities has completed many historic transactions including the IPO of the Port of Sihanoukville (CSX listing: PAS), the IPO of Phnom Penh Special Economic Zone (CSX listing: PPSP), and the first-ever corporate bond in Cambodia offered by Hattha Kaksekar Limited (CSX listing: HKL21A).
For further information:
Mr. Seng Chan Thoeun
Head of Corporate Finance
SBI Royal Securities Plc
Tel: +855 23 999 595
Mobile: +855 16 925 259/+855 77 333 629
Mr. Zhiger Atchabarov
Chief International Operations Officer
Tel: +855 98 203 512
Mobile: +855 98 630 168
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