TMB marshals bond investors

Rare international bond issue from Thailand receives a strong investor response, prompting the syndicate to dispense with any new issue premium.

TMB marshals bond investors
Military junta now promising elections in 2017

TMB Public Bank became the first major Thai bank to issue dollar-denominated debt since 2014 on Wednesday with a capped $300 million issue. 

The five-and-a-half-year Reg S offering also marks TMB's first transaction in a decade and will rank as its only outstanding dollar-denominated offering. 

The Kingdom's banks have only ever made rare forays into the international debt markets.

Issuance has been particularly sparse since a...

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