commonwealth-bank-issues-thai-baht-bond

Commonwealth Bank issues Thai baht bond

CBA is the first Australian borrower to tap the Thai bond market. The aggressively priced two-tranche deal reopens a market closed since last September.

Commonwealth Bank of Australia CBA said on May 29 that it has raised Bt4 billion $116 million from a debut sale of four- and seven-year bonds. The size, split equally between the two tranches, is the maximum allowed by the Thai Ministry of Finance, which gave permission to CBA and another Australian lender, ANZ, to issue baht-denominated bonds in February.

CBA's issue is the first by an Australian borrower in the Thai bond market, and the first by any overseas borrower since September 2008. A market source said that a wide range of domestic investors bought the bonds, including mutual and provident funds, insurance companies and government agencies. HSBC was the sole bookrunner...

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