Thailand's Kasikornbank buys back $16.69 million 8¼% bonds in offer

By Angela McDaniels

Tacoma, Wash., June 30 - Kasikornbank PCL said it received tenders for $16,688,000 principal amount of the $200 million 8¼% subordinated bonds due 2016 issued by its Cayman Islands branch during a modified Dutch auction tender offer.

The offer for up to $75 million of the bonds began on June 2 and expired at 5 p.m. ET on June 29, according to a notice filed by the bank with the Stock Exchange of Thailand.

Holders who tendered by 5 p.m. ET on June 15 will receive $1,030 per $1,000 principal amount of bonds, which includes an early tender premium of $20.

Holders who tendered after that time but before the offer expiration will receive $1,010 per $1,000 principal amount of bonds.

The Bangkok-based bank will also pay accrued interest up to but excluding the settlement date, which is expected to be July 2.

Barclays Bank plc and J.P. Morgan Securities Ltd. were the joint dealer managers, and Bank of New York Mellon was the tender agent.

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