ThailandÆs ETA issues low yield guaranteed bonds

Thailand''s ETA hit the bond market this week with a Bt800 million issue.

ETA, Thailands state-owned operator of roads, the rapid transit railway system and certain boat routes, returned to the market this week with a Bt800 million $18.6 million issue of state enterprise bonds. Bangkok Bank, who underwrote the deal, was the sole buyer. The five-year bonds, guaranteed by the government, carry a face value coupon of 3.59%, which in real terms yields 3.60% because of Bangkok Banks 0.1% fees.

The low yields highlight the fact that now...

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