IFC announces proposal to invest $20mn in KHR-denominated corporate bond

The International Financial Corporation (IFC), the World Bank’s lending arm, disclosed in a statement dated last Wednesday a proposal to invest up to $20mn in KHR-denominated corporate bonds issued by Hattha Kaksekar Limited (HKL). In the statement, the IFC said it would leverage its global experience in local bond issuances to help HKL to issue corporate bond in Cambodia. The IFC investment is to help create a domestic corporate bond market in Kingdom and to support the company in raising funding to finance the growth of its lending program to micro borrowers including farmers and women borrowers in the rural areas, the IFC said in its filing. (Source: Phnom Penh Post)