Cambodia's best securities house 2023
SBI Royal Securities
Cambodia’s capital markets have grown steadily in recent years. Some of that growth is thanks to SBI Royal Securities, whose experienced team, prominent shareholders, large network and solid track record have contributed to Cambodia’s capital markets reaching new heights.
In the past year, the firm – which is majority-owned by Japanese financial services group SBI Holdings – brought two innovative deals in Cambodia.
The first was a two-tranche bond for Royal Railway that raised roughly $34 million. It consisted of a plain $10 million tranche, paying a 7% coupon, and a $24 million portion that was guaranteed by GuarantCo, a body owned by a group of global governments. GuarantCo aims to close the infrastructure financing gap in low-income countries in Africa and Asia.
The bonds, underwritten by SBI Royal Securities, have an important role to play in improving the country’s infrastructure. They were earmarked for improving the quality and safety of Cambodia’s railway systems, so they could boost transportation capacity and, in turn, generate more employment.
SBI Royal, whose executive director is Kenji Nakanishi, also introduced a new concept to Cambodia’s markets: green bonds.