Merrill completes Krung Thai bond

The deal is upsized and prices at the tight end of initial guidance.

Merrill Lynch completed the revived perpetual non-cumulative tier-1 offering for Krung Thai Bank in solid fashion last night, with an upsized deal that priced at the tight end of initial guidance.

The new deal, completed less than a fortnight after its original was withdrawn following ThailandÆs coup, is a $220 million perpetual priced at par with a coupon of 7.378%, equating to a spread of 280bp over 10-year US Treasuries.

Merrill had gone out with a guidance of 280bp to...

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