Exim sells notes to Japan
The Export-Import Bank of Thailand has successfully sold floating rate notes worth US$120 million (Bt4.6 billion) to Japanese financial institutions, saying the issue indicates foreign investors have confidence in the Thai economy in spite of internal political changes.
Sataporn Jinachitra, president of Exim Thailand, said the bank - in cooperation with Mizuho International of London, as arranger and lead manager - had successfully issued the $120-million five-year notes.The issue was sold out to Japanese financial institutions on Monday, amidst the political upheaval in Thailand. The bank said its strong position as a state-owned financial institution with satisfactory operating results and well-defined business plans had contributed to the success. Sataporn said the fund-raising was also a benchmark rate for other Thai financial institutions as the interest rate of the issue is 0.10 per cent over the six-month US dollar London Interbank Offer Rate, payable semi-annually, and the underwriting fee is 0.10 per cent of the total issue size. The Nation
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