Thailand to launch international bond (again)

The Kingdom of Thailand has issued an RFP(Request for Proposals) for a $300 million bond issue.

Bankers were surprised to receive a new RFP for a deal by the Kingdom of Thailand last Friday. Ever since the financial crisis, the government's constant prevarication over its return to the international bond markets has been a continuing source of amusement and scepticism for most market practitioners.

Only last autumn, the Thai government mandated a four handed deal to raise $800 million to $1 billion, but then pulled back at the eleventh hour pleading difficult market conditions. This time round, it appears more serious in its intent, if for no other reason than the structure of the deal gives it less chance to suddenly back out.

In the RFP,...

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