'JB Financial Subsidiary' Phnom Penh Commercial Bank Successfully Issues Corporate Bonds in Cambodia

First Domestic Financial Company
to Issue $10 Million
with Additional Issuance Planned in 6 Months

JB Financial Group Subsidiary Phnom Penh Commercial Bank

[Asia Economy Reporter Minyoung Kim] Phnom Penh Commercial Bank (PPCBank), a subsidiary of JB Financial Group, announced on the 27th that it has succeeded in issuing corporate bonds in Cambodia for the first time among domestic financial companies.

Phnom Penh Commercial Bank received official approval from the Securities and Exchange Commission of Cambodia (SECC) and issued corporate bonds worth approximately USD 10 million in the first phase. The maturity is 3 years, and the interest rate is 6.5% per annum.

The bank stated that considering changes in the financial market environment and demand due to the spread of the novel coronavirus disease (COVID-19), it plans to issue an additional USD 10 million corporate bonds in the second phase after 6 months.

Shin Chang-moo, President of Phnom Penh Commercial Bank, said, “Through this corporate bond issuance, we have become one of the major financial institutions that can newly raise long-term funds in Cambodia,” and added, “We are confident that it will greatly contribute to building new investment relationships with local institutional investors and enhancing brand awareness.”

This content was produced with the assistance of AI translation services.