CSX gives initial nod to First Finance social bond

CSX gives initial nod to First Finance social bond

The Cambodia Securities Exchange (CSX) greenlights First Finance Plc’s social bond listing for qualified investors, granting the microfinance institution crucial in-principle approval, marking the third company to receive preliminary bond-listing approval this year.

The approval was granted on October 6 following a review of the microfinance institution’s eligibility to list its debt securities, according to a CSX announcement on Wednesday.

First Finance must still secure offering approval from the Securities and Exchange Regulator of Cambodia (SERC) and meet additional CSX listing requirements before the bonds can be officially listed and traded, according to CSX.

The news release noted, First Finance Plc. was established in 2008, specialising in providing micro-housing loans to low-income and middle income families. Licensed by the National Bank of Cambodia (NBC) in 2009, it was the first financial institution in the country dedicated specifically to housing finance.

The proposed issuance comes as the company expands its housing-finance business, providing loans to low- and middle-income Cambodian families seeking to purchase, construct or improve homes.

First Finance Plc. reported a total loan portfolio of $100.4 million in 2025, an 11.9% increase year-on-year, while total assets reached $107.4 million. The company recorded an after-tax profit of $1.06 million, according to its 2025 annual report.

The lender said its portfolio supported 11,847 Cambodian families, reflecting its focus on expanding access to homeownership and financial inclusion.

A social bond is a debt instrument intended to finance or refinance projects with positive social outcomes. Unlike equity financing, bond issuance allows companies to raise capital from investors while undertaking an obligation to repay principal and interest under agreed terms.

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