Bangkok--23 Feb--Siam Commercial Bank
Siam Commercial Bank thanks customers for their overwhelming interest in its 20 billion baht subdebt offering, resulting in the issue being sold out on February 22, earlier than planned. The early sell-out reflects customer confidence in SCB. This long-term fund will be counted as Tier 2 capital supporting the Bank's loan and business expansion.
Speaking about the issue, Siam Commercial Bank President Mrs. Kannikar Chalitaporn said, "SCB would like to thank all its customers who showed their confidence in the Bank by subscribing to our 10-year 20 billion baht subdebt offering to general investors during February 17-23, 2012 through more than 1,090 branches nationwide. The offering was fully subscribed by February 22, earlier than planned. This success reflects the confidence of our customers and investors in the Bank's solid financial status and outstanding performance. SCB is fully committed to delivering total solutions designed to meet the different demands of each customer segment by our expert teams, who truly understand our customers."
Offering a coupon rate of 4.5% p.a. payable every 3 months with bullet repayment, the 10-year 20 billion baht subdebts will be due in 2022 with a call option. The issue, which received an AA-(tha) rating from Fitch Ratings (Thailand) Co., Ltd., is an alternative long-term investment featuring predictable returns and low risk.