Bangkok--19 Dec--Bangkok Bank
Bangkok Bank has issued Baht 9 billion of short-term debentures in three tranches maturing in five, seven, and nine months with interest rates of 4.625-4.75 percent per annum. The debentures are available at Bangkok Bank’s branches nationwide from now until December 27, 2006.
Bangkok Bank Executive Vice President Ruchanee Nopmuang said the debentures extended the bank’s ability to attract deposits and offered customers a choice of savings options with different maturity and interest rates.
“We are confident that the debentures will be an attractive investment option for customers because they offer a quick return and higher interest rates than fixed deposits of similar maturity. Investors also retain their liquidity as they have the option of selling the debentures before maturity in the secondary market,” Mrs. Ruchanee said.
The three tranches, each worth Baht 3 billion, are available for subscription at Bangkok Bank’s branches nationwide from December 18-27 and will be issued on December 28.
The first tranche matures in five months or 151 days and offers an interest rate of 4.625 percent per annum. Investors will receive the principal and interest upon redemption on May 28, 2007.
The second tranche matures in seven months or 215 days and offers an interest rate of 4.75 percent per annum. Investors will receive the principal and interest upon redemption on July 31, 2007.
The third tranche matures in nine months or 270 days and offers an interest rate of 4.75 percent per annum. The first interest payment will be made on June 28, 2007, six months after issue and investors will receive the principal and remaining interest upon redemption on September 24, 2007.
The debentures are being offered at Baht 10,000 apiece, which is their face value, with a minimum purchase of Baht 100,000, and are transferable.