True Move clears $225 million seven-year bond

The Thai telecom operator surprises observers by delivering good secondary market performance.

Thai telecom operator True Move priced a seven-year $225 million bond on Tuesday via sole bookrunner Deutsche Bank. The deal, which was two times subscribed, closed with a coupon of 10.375%, a cash price of 98.787 and a yield of 10.625%.

The transaction is the companyƆs second foray into the international bond market since it issued a $465 million seven-year deal in December 2006 via Citi and Deutsche Bank. And the deal comes just a few weeks before True Move...

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