Thai Aromatics: sweet smell of success?

Third PTT company taps the dollar bond market.

After a two-week delay, Thai Aromatics was able to complete a $300 million seven-year bond deal yesterday July 14 via ABN AMRO and UBS.

The Baa3BBB rated issue was priced at 99.847% on a coupon of 5.5% to yield 5.527% or 150bp over Treasuries. Fees were undisclosed, which undoubtedly means they are very low and probably on a par with Thai Oil's recent $350 million issue, which paid about 13bp.

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