Cambodia

Acleda Bank has kicked off bookbuilding for a Riel380.7bn ($94.4m) IPO, set to be the first on the stock exchange in almost three years.

The International Fund for Agricultural Development, the Government of Cambodia and the European Investment Bank have launched a $124.5m rural development project to boost income and food security in the southeast Asian country.

Acleda Bank, Cambodia’s largest bank by total assets, has got the greenlight from the country’s central bank to hold a public offering.

Cambodia’s Prasac Microfinance Institution has closed its syndicated loan at a larger size of $180m.

Thailand and Cambodia are looking to encourage cross-border equity offerings and issuance of depositary receipts, after signing a memorandum of understanding (MOU) on Tuesday.

Swiss firm responsAbility Investments has closed a $175m microfinance CLO via JP Morgan, revitalising an industry which last saw issuance before the financial crisis.

Two southeast Asian companies, Prasac Microfinance Institution and Perusahaan Listrik Negara (PLN), are preparing new offshore borrowings.

Cambodia’s Prasac Microfinance Institution is in talks with two banks for its offshore loan comeback.

Cambodian microfinance institution Hattha Kaksekar (HKL) is poised to sell the country’s first bond later this year.

Cambodia’s Prasac Microfinance Institution has decided to increase the size of its loan to $100m after receiving commitments from 14 lenders to the oversubscribed deal, according to a banker close to the situation.

Dollar bond investors got their first taste of a Cambodian credit this week when casino operator NagaCorp grabbed $300m from its debut outing. But a huge tightening in the secondary market reflected the struggle in finding a fair price for the issuer. Morgan Davis reports.

Cambodian casino operator NagaCorp clinched a $300m debut bond on Monday. But the gaming company’s notes looked cheap compared to other industry names in Macau, causing the yield to drop significantly in secondary trading on Tuesday.