Bangkok--4 Apr--Bangkok Bank
The Thai Bond Market Association (ThaiBMA) has honored the debentures of Dhanarak Asset Development Company Limited (DAD) with the “Deal of the Year 2005” and the “Most Creative Issue 2005” awards. Bangkok Bank together with TMB Bank and HSBC acted as financial advisors and lead underwriters for the debentures which were successfully launched in November 2005.
Mr. Surabhan Purnagupta, a senior vice president for Bangkok Bank’s Investment Banking Group, said the Baht 10.3 billion debentures were issued under DAD’s securitization program to fund the construction of the Government Center (Chaengwatana) Project.
The consortium, which consisted of BBL, TMB and HSBC, with GSB as transaction coordinator, helped design and structure the debentures. The consortium also helped to develop Thailand’s debt market by encouraging greater understanding and confidence among all types of investors.
The Deal of the Year is awarded to a debt issue with outstanding creativity, transparency of information, and success of placement. This is the third consecutive year that quality papers underwritten by Bangkok Bank have won this award. The Most Creative Issue award was given to the debt issue with outstanding characteristics and a uniqueness that was widely and successfully accepted by the market.
“I am confident that the success of the DAD’s debentures will encourage other government units to raise funds through the issue of securitization debentures in the future,” Mr. Surabhan said.