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Krung Thai Bank resurrects $200 million offering of perpetual securities
By Reshmi Basu
New York, Oct. 4- Krung Thai Bank plans to bring back a $200 million offering of perpetual securities that it priced on Sept. 20, according to market sources.
On Sept. 22, the issuer withdrew the securities due to market volatility. The deal priced on the same day that Thailand's military ousted prime minister Thaksin Shinawatra.
Krung Thai Bank PCL sold the $200 million issue of 7.462% perpetual hybrid tier 1 securities (Ba1/BB+/BBB-) at a 210 basis point spread to mid-swaps.
Merrill Lynch & Co. led the sale of the securities, which were rated Ba1 by Moody's Investors Service, BB+ by Standard & Poor's and BBB- by Fitch Ratings.
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