PTTEP opens Thailand's dollar market with $500 million bond

PTTEP prices Thailand’s largest corporate bond since 1997, ending the country’s three-year absence from the bond markets.

The market has been anticipating the pricing of a Thai credit for the better part of this year amid rumours that issuers have been sitting in the pipeline for some time. The wait was over late Wednesday when PTT Exploration and Production PTTEP priced a benchmark $500 million five-year deal.

The exploration and production subsidiary of Thailand's state-owned Petroleum Authority of Thailand PTT became the first Thai issuer in three years to sell debt in the US dollar...

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