Bangkok--30 Sep--KASIKORNBANK
KASIKORNBANK is offering USD-denominated senior unsubordinated and unsecured debentures, worth 400 million US Dollars. The tenor period is five years and six months, with 2.375-percent interest paid every six months. Due in 2022, the debentures are being issued in response to the recent growth in foreign currency-denominated debts, and as part of KBank's strategy to sustain its competitive advantage by boosting the liquidity of its foreign assets.
Following the success of the Bank's last debenture issuance in 2014, this new offer has again been well-received by foreign financial institutions, with subscription triple the available amount. This well-proves that foreign institution investors continue to show trust in KBank's products. According to Mr. Predee Daochai, President of KBank, "The Bank considers the roll-out of debentures as a vital fundingstructure management strategy and a means to raise our competitiveness in financial markets, which will also help the Bank maintain appropriate financial costs in the long run".
The debentures have a credit rating of "Baa1" from Moody's Investors Service and "BBB+" from Standard & Poor's and Fitch Ratings.