Bangkok--Sep 14--EXIM Thailand
Export-Import Bank of Thailand (EXIM Thailand) plans to sell 6,000-10,000 million baht bonds to retail investors and the general public for the first time, with Bangkok Bank Public Company Limited as financial counselor and lead arranger.
According to Mr. Sataporn Jinachitra, EXIM Thailand President, the bond issue represents the first public placement of EXIM Thailand bond which is aimed at expanding the Bank’s funding base. Like the previous offerings to institutional investors, the bonds are expected to be well-received among retail investors, as a result of EXIM Thailand’s strong position as state-owned financial institution with satisfactory operating results and well-defined business plans which advocate proactive strategies to develop new Thai exporters and enhance competitiveness of Thai exporters and investors overseas. Further, Fitch Ratings (Thailand) has assigned an “AA+” rating to EXIM Thailand while the bond issue rating is yet to be announced. The details of bonds will also be determined later by the issuer and lead arranger, according to the market and retail investors’ demand.
Mr. Sataporn said the purpose of the bond issue was to raise funds for use in refinancing the Bank’s maturing debts and extending loans to Thai export businesses and investments overseas in line with the Bank’s institutional mission of promoting and supporting Thai exports, imports as well as domestic and overseas investments for national development.
Mr. Surabhan Purnagupta, Senior Vice President of Investment Banking Group, Bangkok Bank Public Company Limited said that EXIM Thailand bond represented a high-quality debt instrument currently available to the public and would serve as an alternative means of saving for the general public. Bangkok Bank Public Company Limited expected to sell the bonds through its branches nationwide in October 2005.
About Export-Import Bank of Thailand
Export-Import Bank of Thailand is a financial institution wholly owned by the Royal Thai Government under the Ministry of Finance’s supervision. The Bank was established by the Export-Import Bank of Thailand Act B.E. 2536 (1993) which empowered the Bank to engage in any financial activities customary to commercial bank practices, except for accepting deposit from the general public. The Bank’s objective is to provide financial services to strengthen the competitive edge of Thai exporters and investors abroad while contributing to the earning or saving of foreign exchange.
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