ThailandÆs ETA issues low yield guaranteed bonds

Thailand''s ETA hit the bond market this week with a Bt800 million issue.
ETA, Thailand’s state-owned operator of roads, the rapid transit railway system and certain boat routes, returned to the market this week with a Bt800 million ($18 6 million) issue of state enterprise bonds Bangkok Bank, who underwrote the deal, was the sole buyer The five-year bonds, guaranteed by the government, carry a face value coupon of 3 59%, which in real terms yields 3 60% because of Bangkok Bank’s 0 1% fees

The low yields highlight the fact that now is a very good time to be an issuer in Thailand “We’ve seen a steep fall in yields and there is tremendous demand from investors for assets,” explained a...

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