Cambodian microfinance institution (MFI) Hattha Kaksekar Ltd (HKL) yesterday kicked off a roadshow for its first ever corporate bond in the Kingdom.
Hattha Kaksekar Limited (HKL) is set to become the first company to issue corporate bonds in the Kingdom, and it is doing so to the tune of 80 billion riel ($20 million).
Nagacorp, which operates the NagaWorld casino and hotel in Phnom Penh, has become the first Cambodian issuer of offshore bonds, raising $300 million to endorse further growth of its gaming business and to refurbish hotel rooms, according to the firm’s filing in the Hong Kong Stock Exchange on Tuesday.
The Securities and Exchange Commission of Cambodia (SECC) announced yesterday that it will publish a new updated Cambodia Bond Market Guide by the end of this year, with the hopes that it will raise public awareness for the new financial tool that received a formal regulatory framework in August.
The government is preparing legislation to regulate the establishment of a corporate bond market that would give local companies a new debt instrument to raise capital for their operations or expansion.