Bangkok--30 Jun--HSBC Agence Fran?aise de Developpement (AFD), a French specialised financial institution with a permanent public service mission, has successfully completed the bookbuilding for its inaugural Thai Baht Bond. The 3-year bond worth Thai Baht 1.5 billion has been issued for institutional investors with coupon rate of 5.51%. Despite the volatile market environment, with AFD’s strong credit rating of “AAA” rated by S&P and Fitch Ratings, the book is well covered by institutional investors who are looking for superior credit quality papers. The coupon rate of 5.51% is equivalent to 3-year treasuries plus tight corporate bond spread at 30 bps. HSBC and Bangkok Bank act as Joint Lead Arrangers of this transaction. This transaction demonstrates HSBC’s expertise in navigating successful transactions despite the country’s current unfavourable political and economic situation. AFD is wholly-owned and controlled by the French State. Its main role is to provide bilateral aid granted by France to developing countries and oversea territories. The funds raised by AFD through the Bond issue will be utilized for its general business and to foster the development of its Official Development Assistance (ODA) loan commitments in Thailand, where it supports, together with its subsidiary dedicated to the private sector, PROPARCO, projects contributing to the fight against global warming and to the biodiversity protection, through partnerships with key players such as local governments and state-owned or commercial banks.