Cambodia

Cambodia’s Prasac Microfinance Institution has launched a $50m three year term loan with a $50m greenshoe option into syndication.

The People’s Bank of China eyes bond market reforms, China’s FX reserves stand at $3.16tr after another month of growth, and Cambodia moves closer to replacing the dollar with the renminbi for trades with China.

China has relaxed access to the onshore renminbi (CNY) foreign exchange market for overseas banks based in Cambodia, Kazakhstan, Mongolia and Thailand, all countries that fall under the Belt and Road initiative, GlobalRMB has learned.

Two A-share smart beta exchange traded funds (ETFs) list in Hong Kong, the central bank of Cambodia wants the country’s businesses to use renminbi to trade, and Industrial and Commercial Bank of China (ICBC) agrees to co-operate with New Development Bank (NDB) on financing the Belt and Road Initiative (BRI).

China Minsheng Bank has named Sheau Huei Wang as the new head of syndicated finance, succeeding Foster Lee who left the firm earlier this month.

Cambodia's Advanced Bank of Asia (ABA Bank) has tied up a $50m borrowing with Taiwanese lenders, taking double the amount raised in its international loan debut last year.

Cambodia’s Sihanoukville Autonomous Port has wrapped up the subscription period for its Riel108.1bn ($26.5m) IPO, concluding the country’s fifth and largest listing to date.

The subscription period has kicked off for the IPO of Sihanoukville Autonomous Port, set to be the fifth and largest listing in Cambodia.

Cambodian state-owned Sihanoukville Autonomous Port launched bookbuilding for a potential Riel111.0bn ($27.2m) IPO this week, which could make it the largest in the country.

Hong Kong-listed NagaCorp raised a larger than expected HK$950m ($123m) after boosting the number of shares sold in its overnight equity offering, even though it priced at the bottom of guidance.

NagaCorp, which operates the only licensed casino in Cambodia's capital, has launched a top-up placement that could raise up to HK$832m ($107m), ending a three year absence from the equity market.

A single bank has launched into syndication a $70m three year facility for Bank for Investment and Development of Cambodia (BIDC).