About the CIA FIRST Issuance

Credit Guarantee and Investment Facility (“CGIF”), a trust fund of the Asian Development Bank (“ADB”) has guaranteed CIA FIRST International School Co. Ltd.’s (“CIA FIRST”) debut corporate bond issuance, a five-year KHR41.25 billion fixed-rate amortizing bond (“Bond”).

Founded in 2004, CIA FIRST is a leading K-12 private education provider which teaches dualcurricular syllabus through its three campuses in Phnom Penh, with a current student population of about 5,000 children. The Bond will fund the construction of a new campus which, once completed, will be CIA FIRST’s fourth campus and will raise its enrollment capacity by another 1,500 students.

This is the first bond by an education provider in Cambodia, adding further diversity to the country’s bond market, and increasing investment options to long-term institutional funds. It is also the first CGIF-guaranteed bond to be rated by the Rating Agency of Cambodia, which has given the Bond the highest rating of “khAAA”.