CAMGSM PLC (“Cellcard”) & Royal Group of Companies Ltd Royal Group retires the largest private credit facility in Cambodian history.
Published Date: August, Wednesday 16, 2023
On 8 August 2023, Royal Group in Cambodia made a significant closure of the financing it arranged in January 2011 with the banking consortium led by Bank of China Limited, principally used for the repayment of the 1st debt facility arranged by Standard Bank, Australia and New Zealand Banking Group, and their financial partners Carval, Black Rock, Farallon, and Leopard Capital for the original acquisition of Millicom’s 61.5% shareholding of Cellcard.
In 2011, the debt funding was the largest financing undertaken in Cambodia, and these successful repayments have showed commitment to repay the foreign financings.
Since 2009, Cellcard has repaid Principal of US$421 Million and paid US$302 million in Interest payments which has totaled US$723 Million in payments to the Banking consortiums.
The Bank of China facility which has amortized to US$111.5 Million is now refinanced by Malayan Banking Berhad, Singapore Branch, Maybank (Cambodia) Plc, and Canadia Bank Plc. The new financing provides Cellcard with lower overall cost, and a longer tenure. It will assist Cellcard to increase its capital investment into its network coverage and capacity.
In July 2023, Cellcard was listed on the Cambodian Stock Exchange with a current market capitalization US$1,405,777,090 at the closing share price of Riel 2,870 at today’s date.
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