Krung Thai sells Thailand's first Basel III bond

Thailand’s fourth-biggest lender raises a $700 million Basel III-compliant Tier 2 offering, the country's first from the bank capital space, despite investor scepticism.

Krung Thai sells Thailand's first Basel III bond

Krung Thai Bank sold a $700 million 10.5-year bond Thailand’s first ever Basel III instrument despite ongoing investor scepticism as to whether the government will extend extraordinary support to such instruments.

According to Standard Poor’s in a recent note, issue ratings on any Basel III-compliant subordinated debt by major Thai commercial banks are likely to be three to five notches lower that its long-term issuer credit ratings, prompting investors to exercise caution when it...

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CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...