Thai Olefins priced its debut dollar-denominated bond in London on Friday night June 17 via lead managers Citigroup and Deutsche Bank. The $300 million 10-year issue priced inside of revised guidance.
The BBB-Baa3 rated transaction was priced at 99.469% on a coupon of 5.5% to yield at 5.57%. This equated to a spread of 149bp over 10-year US Treasuries.
Having kicked off roadshows in Hong Kong and Singapore earlier in the week with an initial guidance of around 155bp over US Treasuries, the leads were able to tighten the range as investor interest grew. Demand is said to have topped $500 million within the first...
