Bangkok--11 Jan--EXIM Thailand
EXIM Thailand appointed Daiwa and Mizuho as joint lead managers for the selling of EXIM Thailand’s floating rate notes (FRN) worth 200 million US dollars to leading institutional investors in January 2010. The FRN issue is in response to the EXIM Thailand’s business expansion in 2010.
Dr. Apichai Boontherawara, President of Export-Import Bank of Thailand (EXIM Thailand), Mr. Yuichi Akai, Chairman of Daiwa Capital Markets Singapore Limited (Daiwa), and Mr. Tomohiro Watanabe, General Manager of International Finance Department, Mizuho Securities Company Limited (Mizuho), signed a subscription agreement to appoint Daiwa and Mizuho as joint lead managers for EXIM Thailand’s selling of 200-million-USD FRN with five-year maturity due 2015 at EXIM Thailand’s Head Office on January 11, 2010.
According to EXIM Thailand’s President, the FRN selling to be kicked off on January 14, 2010 is expected to be well received by leading institutional investors. The purpose of the FRN issuance is to use the fund raised for refinancing EXIM Thailand’s maturing debts in 2010 and expanding the Bank’s businesses, following EXIM Thailand’s satisfactory operating results. In December 2009, Fitch Ratings (Thailand) has affirmed EXIM Thailand’s long-term foreign currency issuer default rating (IDR) at ‘BBB’ with a stable outlook, as a result of the Bank’s improvement in financial performance in 2009, reduced non-performing loans (NPLs) and strong capital position. As state-owned financial institution with mandate to support and promote the growth of Thai export, investments abroad and investments for national development, EXIM Thailand’s ratings are correlated with the Thailand’s sovereign ratings.
For further information, please contact Public Relations Division, Office of Top Management
Tel. 0 2271 3700, 0 2278 0047, 0 2617 2111 ext. 1140-8