Thai Olefins prices debut dollar bond

Thai petrochemical company charts recovery of Asian debt capital markets.

Thai Olefins priced its debut dollar-denominated bond in London on Friday night June 17 via lead managers Citigroup and Deutsche Bank. The $300 million 10-year issue priced inside of revised guidance.

The BBB-Baa3 rated transaction was priced at 99.469% on a coupon of 5.5% to yield at 5.57%. This equated to a spread of 149bp over 10-year US Treasuries.

Having kicked off roadshows in Hong Kong and Singapore earlier in the week with an initial guidance of around 155bp over US Treasuries, the leads were able to tighten the range as investor interest grew. Demand is said to have topped $500 million within the first...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222