Phnom Penh, Cambodia – November 24, 2023 – CAMGSM PLC, Cambodia’s homegrown telecommunications company, has taken a historic step towards building a sustainable economy in the Kingdom. On June 27, 2023, CAMGSM PLC achieved a significant milestone by marking its official listing on the Cambodia Securities Exchange (CSX) as the first and only telco to be listed. This achievement was followed by another groundbreaking event on November 24, 2023, when CAMGSM PLC issued the first-ever sustainability bond in Cambodia.”

CAMGSM PLC’s trailblazing journey towards sustainability aims to set the new standard for the Cambodian business community. The sustainability bond, raising a substantial $20 million, is a testament to CAMGSM PLC’s commitment to environmental and social responsibility.

During the bond issuance ceremony, several key speakers recognized the purpose behind the initiative, including Mr. Christopher Donald Tiffin, Group Chief Operating Officer of Royal Group, stated “The CamGSM’s sustainability bond will support projects aiming to alleviate climate change related risks with investment in renewable energy and provide connectivity to the underserved communities”. The $20 million funds will be allocated strategically, enhancing the network and infrastructure, infrastructure capabilities, as well as investing in environment-friendly products and initiatives aimed at serving the underserved communities.

Mr. Seng Chanthoeun, CEO of Royal Group Securities, remarked, “Cellcard’s sustainability bond will generate significant benefits to our market and society. By having the first-ever sustainability bond listed, we are optimistic that this milestone will lay the groundwork for more issuances of ESG bonds in the near future. Additionally, the proceeds of the bond will be used to finance projects that will benefit our country socially and environmentally. Royal Group Securities is honored to be the sole underwriter and financial advisor for this landmark transaction. This is a testament to our commitment in driving Cambodia securities market to a more sustainable future.”

Mr. Nishant Kumar, Managing Director of GuarantCo Ltd. delivered an impactful and remarkable speech, stating “Cellcard’s sustainability linked bond is first such transaction in Cambodia. This is GuarantCo’s third transaction in Cambodia and we are proud to have supported Cellcard to help expand its cellular network in Cambodia. Moody’s was the SPO for the bond and whilst the investors, Manulife and Prudential, fully subscribed to the bond backed by 100% guarantee from GuarantCo. The bond tenor is 10 years and sets new benchmark in corporate bond issuance in Cambodia. GuarantCo, part of the Private Infrastructure Development Group, is committed to development of Cambodian capital market is pleased to work with policy makers and regulatory bodies to further bring newer, pathbreaking issuances in the country.”

Ms. May Lin, Chief Financial Officer of Manulife Cambodia, said: “Manulife Cambodia is pleased to be the main investor in the CamGSM (Cellcard) Bonds. We are committed to working with key market participants to develop the Cambodian Capital Market, something we also regard as crucial for the success of the life insurance industry. Furthermore, by investing in CamGSM Bonds we wholeheartedly support Cellcard’s mission to deliver innovative and insightful digital solutions for the Cambodian people. We believe that expanding access to information and technology can improve peoples’ lives, as they can more readily obtain useful knowledge and information, for example relating to healthcare and education. It aligns with Manulife Cambodia’s mission and value: Decisions made easier. Lives made better.”

These remarks underscore the importance of CAMGSM PLC’s sustainability bond and its role in promoting a sustainable economy in Cambodia. CAMGSM PLC’s journey towards a sustainable economy does not stop here. The company remains dedicated to its mission of having a positive impact for the environment and in society, serving the underserved while contributing to the growth opportunities for sustainable businesses in Cambodia.

This achievement signifies not just a financial transaction but a significant step towards fostering sustainability and responsible investment practices within our region. Cellcard’s proactive role in kick-starting this movement has laid the groundwork for a brighter, more sustainable future. – representative of the bond Guarantor.

The successful closure of the internationally certified CAMGSM Sustainability Bond, having an amount of USD 20 millions, stands as a testament to our collaborative efforts and commitment to driving sustainable finance in Cambodia.