Bangkok--5 Apr--EXIM Thailand
EXIM Thailand proved the confidence of foreign investors in Thai economy amidst internal political changes with the Bank’s success in selling FRN of 120 Million US dollars to Japanese financial institutions.
Mr. Sataporn Jinachitra, President of Export-Import Bank of Thailand (EXIM Thailand), said that the Bank, in cooperation with Mizuho International Plc, London, as arranger and lead manager, has successfully issued 5-year Floating Rate Notes (FRN) of USD 120 million. The FRN was sold out to Japanese financial institutions on April 3, 2006, amidst the political changes in Thailand, thanks to the 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.
According to EXIM Thailand President, this fund raising is a benchmark rate for other Thai financial institutions as the interest rate of the FRN is 0.10% over 6-month USD LIBOR, payable semi-annually and the underwriting fee is 0.10% of total issue size. This issue will in turn benefit exporters and Thai investors overseas since the fund is raised for loan extension to support Thai international business undertaking, apart from refinancing the Bank’s maturing debts.
April 5, 2006
Public Relations Division
Office of Top Management
About Export-Import Bank of Thailand
Export-Import Bank of Thailand is a specialized 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.
For further information, please contact Public Relations Division, Office of Top Management
Tel. 0 2271 3700, 0 2278 0047, 0 2617 2111 ext. 1140-6