Thailand contemplates yen transaction in April

Thailand issues a request for proposals for a Ñ55 billion deal. Meanwhile, Crown Worldwide receives an extension on its bank loan, reducing its need to tap the debt markets.

Investment banks across Asia are responding this week to ThailandÆs request for proposals regarding a Ñ55 billion $550 million three- to seven-year deal that is expected to launch in April or May.

The transaction will benefit from a strong domestic bid. Onshore banks are required to hold a certain amount of government debt, and a yen issue is particularly attractive since, when swapped, the bonds will offer a greater spread than baht-denominated government paper.

According to bankers, all the bonds...

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