The Securities Commission of Papua New Guinea (SCPNGSCPNG Securities Commission of Papua New Guinea) acknowledges and welcomes the successful listing of the Kina Securities Limited Corporate Bond (KSL Bond) on the Papua New Guinea Stock Exchange (PNGXPNGX PNG National Stock Exchange).
The KSL Bond offering, which closed with strong investor demand and was oversubscribed, marks a significant milestone in the continued development of Papua New Guinea’s capital markets.
Commenting on the achievement, the Acting Chief Executive Officer of SCPNG, Mr. James Joshua states, “This is a significant milestone not only for Kina Securities Limited as the inaugural corporate bond issuer under the evolving domestic debt market framework, but also for the broader development of Papua New Guinea’s capital markets. Kina’s leadership in bringing this transaction to market serves as an important ‘icebreaker’ for the domestic bond market, demonstrating growing investor confidence and validating the regulatory framework underpinning the wholesale bond regime.”
Mr. Joshua added that the KSL bond broadens financing options for corporates, enhancing market depth, and strengthening the resilience of the financial system.
The successful listing of the KSL Bond reflects sustained efforts that commenced in 2023 to establish a domestic Debt Market framework, supported by technical collaboration with PNGX and the International Finance Corporation (IFC). Those coordinated efforts have been instrumental in laying the regulatory and market foundations necessary to support corporate bond issuances in Papua New Guinea.
Mr Joshua also emphasized that the bond issuance contributes meaningfully to the promotion and expansion of the investment landscape by supporting capital formation, diversifying funding sources, and facilitating long-term economic growth.
“More importantly, this bond issuance contributes meaningfully to the promotion and expansion of our investment landscape. It facilitates capital formation, supports diversification of funding sources, and ultimately strengthens the foundation for sustainable long – term economic growth”.
The Commission acknowledges the strong collaboration among all stakeholders in delivering this landmark transaction, including Kina Securities Limited and PNGX for their leadership in bringing the bond to market, and the Bank of Papua New Guinea (BPNG) for ensuring compliance with applicable regulatory requirements.
The Commission also recognizes the technical assistance provided by international partners, especially the International Finance Corporation (IFC), in establishing the domestic debt market framework.
The Commission views this listing as a strong foundation for future corporate bond issuances and encourages other corporates to consider the capital markets as a viable source of long-term financing.
“Looking ahead, we encourage more corporates to explore the capital markets as a viable avenue for raising long-term funding”, said Mr. Joshua.
SCPNG remains committed to fostering a transparent, efficient, and well-regulated market that promotes investor confidence, market integrity, and innovation.
The commission looks forward for continued engagement with stakeholders in advancing the growth, diversification and sustainability of Papua New Guinea’s capital markets.