daimlerchrysler-first-to-issue-in-thailand-since-the-coup

DaimlerChrysler first to issue in Thailand since the coup

Thai investors back the company's first baht offering since 2004.
DaimlerChrysler Thailand received strong backing from Thai investors on Monday for its two-year note. The car dealer is the first multinational name to issue in Thailand since the September coup last year when military forces seized government offices and television stations.

Sole bookrunner Citigroup led the company through a successful Bt2.5 billion $78 million two-year note, ôirrevocably and unconditionally guaranteedö by DaimlerChrysler AG û the parent company in Germany.

The bond priced at par to yield a coupon of 4.51%, offering a 60bp pick-up over the interpolated baht two-year government-bond yield of 3.91%. The bond was rated AA by Fitch Rating Thailand, while guarantor ratings stood at BBB, Baa1, and BBB....
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