Bangkok--9 Oct--TMB Bank
TMB Bank Pcl announced today Fitch Ratings (Thailand) has assigned an 'A(tha)' National Long-term rating to the Bank’s subordinated unsecured debentures of up to THB10 billion, with a maturity of 10 years.
The new debentures will have coupon rates of 5.00%, 5.25% and 6.50% for years 1-3, years 4-5, and years 6-10 respectively and payable quarterly. TMB will give privilege to its existing holders of subordinated debentures No. 12 due in year 2015 to sell back the debentures and subscribe to the new debentures for the same amount. Existing holders who participate in the offer will immediately receive a higher coupon rate from 4% to 5%. If the existing holders wish to subscribe more new debentures, they will have first priority on allocation subject to first come first serve allotment mechanism. However, should there be any debentures remaining, the bank will allot such remaining debentures to new investors, also subject to first come first serve allotment mechanism.
The Sell back and subscription period is scheduled concurrently for 19-28 October 2009.
TMB Bank Public Company LimitedFounded on 8 November 1957, TMB Bank Pcl. operates a commercial banking business under a license granted by the Ministry of Finance, and with consent given by the Bank of Thailand. It also operates a securities business licensed by the Ministry of Finance and agreed to by the Securities Exchange Commission.
TMB aims to respond to the needs of its clients through its 486 branch network, 103 foreign exchange centers, 2,152 ATMs, as well as electronics banking systems. Its business encompasses commercial banking, offshore banking, investment banking, and other businesses as permitted by the regulatory authorities, including acting as an insurance agent for its alliance insurance companies.
Listed on the Stock Exchange of Thailand, TMB is the sixth largest bank, by total assets, in Thailand. As at 30 June 2009, its total assets are valued at THB 568,744 million.
www.tmbbank.com
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