Microfinance institution Hattha Kaksekar Limited (HKL), the third largest microlender in Cambodia, became the first firm to list its corporate bonds on the Cambodia Securities Exchange (CSX) on Wednesday.
HKL’s President and Chief Executive Officer (CEO) Huot Ieng Tong said the HKL was the company that issued the first-ever local currency bonds in the kingdom, saying that the firm issued 1.2 million bonds worth 120 billion riels (30 million U.S. dollars).
“The HKL’s corporate bonds have the period of three years with a coupon rate of 8.5 percent per annum,” he said during the listing ceremony. “The capital from bond issuance will be used for the expansion of the firm’s business operations.”
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