GuarantCo, part of the Private Infrastructure Development Group (PIDG), has provided a $70 million bond guarantee to CamGSM (Cellcard) to finance telecom infrastructure in Cambodia.
The internationally certified sustainability bond was fully subscribed by institutional investors Manulife and Prudential Cambodia, and loan financing came from the Singapore Branch of Deutsche Bank AG.
GuarantCo’s local currency credit solutions transform capital markets by mobilizing private sector capital to finance essential-infrastructure projects. The company supports the development of financial markets in lower-income countries across Africa and Asia.
The proceeds of the financing will be allocated strategically to expand Cellcard’s telecom infrastructure, enhancing the network and infrastructure capabilities, as well as investing in environment-friendly products and initiatives aimed at underserved communities, such as 4G telecommunication towers, energy-efficient 4G equ