Published on 4/2/2014 in the Prospect News Emerging Markets Daily and Prospect News Investment Grade Daily.
New Issue: Thailand's Siam Commercial Bank sells $750 million 3½% notes due 2019 at 180 bps spread
By Christine Van Dusen
Atlanta, April 2 - Thailand's Siam Commercial Bank Ltd. sold $750 million 3½% five-year notes (expected ratings: A3/BBB+/BBB+) at 99.6 to yield Treasuries plus 180 basis points, a market source said.
Barclays and Standard Chartered Bank were the bookrunners for the Rule 144A and Regulation S deal.
The issuer is a Bangkok-based lender.
| Issuer: | Siam Commercial Bank Ltd.
|
| Amount: | $750 million
|
| Maturity: | April 7, 2019
|
| Description: | Senior notes
|
| Bookrunners: | Barclays, Standard Chartered Bank
|
| Coupon: | 3½%
|
| Price: | 99.6
|
| Spread: | Treasuries plus 180 bps
|
| Trade date: | April 2
|
| Settlement date: | April 7
|
| Expected ratings: | Moody's: A3
|
| Standard & Poor's: BBB+
|
| Fitch: BBB+
|
| Distribution: | Rule 144A and Regulation S
|
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