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Prince Bank Plc. invested an additional $35 Million in the Techo International Airport (TIA) Guaranteed Bond

Prince Bank Plc. invested an additional $35 Million in the Techo International Airport (TIA) Guaranteed Bond

Posted Date: 2022-04-08

[Phnom Penh, April 07, 2022] Prince Bank Plc. invested an additional $35 million, totaling $50 million in the Techo International Airport (TIA) Guaranteed Bond today. Prince Bank is honored to be part of this important transportation infrastructure development that will bode well for the Kingdom in decades to come. Prince Bank is the first and now largest subscriber of the TIA bond issue.

Together with Cambodia Airport Investment Co., Ltd. (CAIC) and Overseas Cambodian Investment Corporation (OCIC), a signing ceremony was held for the additional investment of $35 million on the Guaranteed Bond Agreement. This signing ceremony was witnessed by Neak Oknha Dr. Pung Kheav Se, the Chairman of OCIC and CAIC, and Neak Oknha Chen Zhi, the Chairman of Prince Bank Plc. The agreement was signed by Mr. Honn Sorachna, the CEO and Managing Director of Prince Bank Plc. and Mr. Charles Vann, the Director of CAIC. Also present were the Directors and Senior Management of OCIC, CAIC, and Prince Bank.

The Techo International Airport Guaranteed Bond Issue (TIA) is a private corporate bond issued by Cambodia Airport Investment Co., Ltd. (CAIC) for the construction of the Techo International Airport located south of Phnom Penh.  

Neak Oknha Chen Zhi, the Chairman of Prince Bank Plc. said that “It is our honor & pleasure to be a part of this great milestone for the Kingdom of Cambodia. Prince Bank has been supporting the Royal Government of Cambodia in many aspects of developing the country. With the positive traction in global trade and international travels, we anticipate this Techo International Airport will play an important role in air transportation for business and leisure travelers to visit Cambodia. It will also bode well for our economy, supporting commerce and the creation of more job opportunities and a better living standard for Cambodians.”

Mr. Honn Sorachna, the CEO and Managing Director of Prince Bank also shares, “As one of the fastest-growing major financial institutions in Cambodia with a strong capital base, Prince Bank wants to be involved and supports our country’s development through re-investment and community service. At Prince Bank, we are not only working harder to bring creative products & services, and better financial solutions to our customers, but to support our economy and country as a whole.

With a strong foundation, not only does Prince Bank aspires to become the bank of choice in Cambodia, and we have never stopped improving and developing innovative banking products and services to serve the needs & wants of our different client segments. Operating as a full commercial bank since July 2018, Prince bank’s total assets now stand at over $800 million with 32 branches, 79 ATMs, and over 80,000 customers, which is growing from strength to strength. 

For more information about Prince Bank’s products & services, kindly visit us at www.princebank.com.kh or contact our Contact Center at 1800 20 8888.