Bangkok Bank wows with $1 billion bond sale

Volumes equally divided between two five- and 10-year tranches, with the 10-year tranche achieving a whopping $2.5 billion book from more than 200 accounts.

Bangkok Bank raised $1 billion from a stunning bond sale on Wednesday, with volumes equally divided between two five- and 10-year tranches, according to sources.

Despite some initial market uncertainty as investors scaled back on duration, the 10-year tranche drew a book totalling $2.5 billionĀ from more than 200 accounts. At an initial price guidance of 250bp above Treasuries, the tranche tightened by 15bp and only offered a new issuance premium of 6bp.

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