Bangkok Bank, HSBC and Thai Military Bank have closed Thailand's first ever future flow securitization with a multi-tranche Bt10.3 billion $250 million deal for the Thai Government. The deal represents the securitization of rental revenue of a future government office centre yet to be constructed in Bangkok.
The AAA Fitch Tris rated deal marks a number of firsts for the Thai securitization market. It is Thailand's first publicly offered securitization the first bond offered to both retail and institutional investors and is the largest and longest dated domestic securitization. It is also the first securitizations from a series of intended mega-projects planned by the Thai government.
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