Krung Thai Bank took advantage of market conditions to launch an inaugural $500 million senior bond on Monday night. The Thai bank had completed roadshows in February, but held off launching a deal immediately as market conditions were choppy.
It is the first US dollar bond from a Southeast Asian bank this year. The initial guidance for the five-and-a half-year bond was Treasuries plus 175bp and this was revised to a final guidance of Treasuries plus 155bp to 160bp with the bonds pricing at the tight end.
Back in 2006, the bank had priced its Tier 1 bond shortly before tanks rolled down the streets of Bangkok...
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