Phan Bá Cường, deputy general director of THACO Agri, speaks at the listing ceremony of Daun Penh Agrico’s corporate bond on the Cambodia Securities Exchange in Phnom Penh on January 21. — Photo courtesy of CSX

PHNOM PENH — An agricultural company owned by THACO Agri, the agriculture arm of THACO Group, has debuted on the Cambodia Securities Exchange (CSX) with the listing of a corporate bond.

The CSX held a listing ceremony on January 21 for Daun Penh Agrico Co., Ltd.

According to CSX disclosures, Daun Penh Agrico was approved to issue corporate bonds worth 196 billion riel (VNĐ1.28 trillion, US$50 million) exclusively to professional investors.

The Daun Penh Guaranteed Bond has a tenor of eight years and carries a coupon rate of 5.25 per cent, with interest to be paid quarterly.

It is denominated in the Cambodian currency, with a par value of 100,000 riel.

Daun Penh is primarily in the businesses of running large fruit plantations and agricultural processing for exports.

The bond issuance is guaranteed by GuarantCo Ltd. and advised by Fitch Ratings.

Speaking at the listing ceremony, Phan Bá Cường, deputy general director of THACO Agri, said the bond marks a historic milestone for Daun Penh, enabling the company to access international capital for its agricultural projects.

The proceeds would be used to invest in machinery, infrastructure and human resources, he added. — VNS