Cambodia's bourse gets 2nd corporate bond issuer

Source: Xinhua| 2019-05-10 18:47:16|Editor: xuxin
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PHNOM PENH, May 10 (Xinhua) -- Deposit-taking microfinance institution LOLC (Cambodia) Plc became the second firm to list its corporate bonds on the Cambodia Securities Exchange (CSX) on Friday.

LOLC CEO Sok Voeun said LOLC was the second firm that issued local currency bonds in the kingdom and added that the firm issued 800,000 bonds worth 80 billion riels (20 million U.S. dollars).

He said the LOLC's corporate bonds had the period of 3 years with a coupon rate of 8 percent per annum for FX-Indexed bonds and 9 percent for plain bonds.

"The capital from bond issuance will be used for the expansion of the LOLC's business operations," he said during the listing ceremony. "The bond listing will make LOLC more famous in the financial market and among the public."

CSX CEO Hong Sok Hour said it was a new history for the CSX to get the second corporate bond issuer.

"So far, the CSX has received a total of seven listed companies, including five stock-listed companies and two bond-listed firms," he said, adding that the seven firms had collected a total capital of 130 million U.S. dollars from the securities market.

"We expect that three or four more companies will list on the CSX by the end of this year," he added.

Launched trading in 2012, the CSX is a joint venture between the Cambodian government holding 55 percent of the stakes and the Korean Exchange owning the remaining 45 percent.