Following strong demand from foreign banks, Thai Military Bank exercised its greenshoe option on the dual-tranche $80 million three-year loan last week, thereby increasing it to $100 million. Eight of the nine banks that joined arrangers ABN AMRO in the transaction were foreign banks. Krung Thai Bank's Singapore branch was the only Thai bank participating in the transaction, which was signed last week.
Although being aggressively priced and having a relatively longer tenor than those seen from banks coming to the market after a long time, the deal's success demonstrates the confidence in Thai Military Bank and the scarcity value associated with it. Proceeds from the loan will be utilized for general corporate purposes.
The...
